Thailand's government has reported a revenue collection shortfall for the first eight months of fiscal year 2025, amounting to 0.7% or 12.7 billion baht below the established target.

According to a report from the Finance Ministry, net revenue for the period—from October 2024 to May 2025—reached 1.70 trillion baht after accounting for tax refunds and the allocation of value-added tax (VAT) revenue to local administrative organizations.

This figure reflects an increase of 28.8 billion baht, or 1.7%, compared to the same period in the preceding year.

The shortfall was largely attributed to declines in collections from vehicle excise tax, corporate income tax, and import-related VAT.

Notably, some corporate taxpayers opted to file their corporate income tax returns online, deferring payments to a deadline set for early June.

All three principal tax-collecting agencies—the Revenue Department, the Excise Department, and the Customs Department—reported collections that fell short of targets during the first eight months.

The Revenue Department's collections totaled 1.353 trillion baht, which is 0.6% below target; the Excise Department collected 354 billion baht, falling 10.6% short of its goal; and the Customs Department gathered 75.8 billion baht, which is 7.1% below its target.

In contrast, state-owned enterprises contributed significantly, bringing in 130 billion baht, which exceeded their target by 21.5%.

Additionally, other governmental agencies that generate revenue and are required to remit funds to the state contributed 137 billion baht, surpassing their target by 14.7%.

Looking ahead, the Finance Ministry indicated plans to monitor and manage revenue collection efforts to bolster the country's fiscal health and facilitate the implementation of government policies.