Excise Department Reveals Revenue Exceeding Target by 8.3 Billion Baht in First 4 Months

On February 17, Pornchai Theeravej, Director-General of the Excise Department, disclosed that overall revenue collection remains on target. In the first 4 months of fiscal year 69 (October 68 - January 69), the department collected 191 billion baht, which is 8,300 million baht or 5% above budget estimates. Key factors include accelerated vehicle production and imports before new tax structure changes in January 69, resulting in higher-than-normal vehicle volumes in December 68 and positively impacting early-year revenue. This was further supported by private consumption recovery, government economic stimulus measures, and expanding tourism, which benefited certain product categories. The automotive market is clearly transitioning from internal combustion engines to electric and hybrid vehicles, with varying tax implications for different vehicle types.