The Revenue Department got off to a good start by exceeding its target by 7.3% for the first three months of fiscal 2019, largely thanks to higher value-added tax (VAT) payments propelled by increases in imports and oil prices.
The department amassed 412 billion baht from October to December in 2018, 41.7 billion baht more or 11.3% higher than a year earlier, said Ekniti Nitithanprapas, director-general of the department.
Higher imports and oil prices were the main contributors to the strong tax revenue, Mr Ekniti said.
Improving private investment in tandem with state investment, the pickup in real estate and auto sales, and higher employment and salaries of private sector workers also bolstered the Revenue Department's tax collection, he said.
Mr Ekniti said recently that the department's tax-collecting efficiency had improved after the adoption of data analytics to sort out good taxpayers from those who evade tax payments.
The country's largest tax-collecting agency is testing blockchain to track VAT payments in its innovation lab with the aim of becoming an instrument to help verify VAT invoices.
The Revenue Department has set its sights on adopting machine learning and using artificial intelligence to learn and study tax-cheating practices to efficiently examine tax payments and compel more people to enter the formal tax system.
Adoption of new technologies like big data and a digital tax collection system is a priority for Mr Ekniti, who aims to use innovation to boost efficiency and enlarge the tax base.
He voiced confidence that the department's revenue target of 2 trillion baht could be achieved.
The 2-trillion-baht target represents 80% of the government's expected revenue for this fiscal year.
