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Excise tax misses six-month target on higher use of diesel.
Apr. 5--Excise tax collections have fallen below the target in the first half of fiscal year 2005, due to the increasing use of diesel-engine cars.
Varathep Ratanakorn, deputy finance minister, said excise tax collections from Oct 1 to march 31 totalled 143.9 billion baht, 7.5 percent below the target of 155.65 billion baht. However, the amount was 3.7 billion baht, or 3 percent, higher than the 140.2 billion baht collected in the same period last year.
The lower-than-expected collection resulted from changes in the tax structure for automobiles and the subsidies on diesel oil, which resulted in a shift toward smaller or diesel-engine cars.
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Source: HighBeam Research, Excise tax misses six-month target on higher use of diesel.