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COVID-19 batters Phuket tax revenues


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COVID-19 batters Phuket tax revenues

By The Phuket News

 

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Tax revenues collected in Phuket plunged after the COVID crisis gripped the island’s economy. Image: The Phuket News

 

PHUKET: The economic impact of COVID-19 has halved the tax revenues collected by the local office of the Revenue Department, despite a major bump from the outstanding tax payments collected from last year.

 

According to figures provided directly to The Phuket News by the Phuket Area Revenue office, total tax receipts from January through August year on year fell by just over 46%.

 

January began with an year on year increase of 5.38% rising from B1.033 billion to B1.092bn, before February saw tax revenues fall by -5.22%, from B1.086bn to B1.032bn.

 

Full story: https://www.thephuketnews.com/covid-19-batters-phuket-tax-revenues-77640.php

 

 

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-- © Copyright Phuket News 2020-10-15
 
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Overall, year on year from January through August:

Personal Income tax receipts fell by -40.83% (from B1,928bn to B1.369bn),

Corporate income tax fell -68.94% (from B2.862bn to B1.694bn), and

VAT receipts fell -32.46% (from B3.964bn to B2.993bn).

 

Ponder the implications behind those numbers for a minute.

 

 

Edited by impulse
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Line maker has "hit the fly" after July! Maybe there is line in makers face also, but should go much down way like cow's tail!

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From the previous article

'Thailand's deputy PM and health minister was basking in praise after the WHO singled out the country for its strong leadership in response to the pandemic.'

and the cost is? See this article and it is not just Phuket. It will be all over Thailand. Some people may not like foreigners on the ground, but the country and the people need them.

Domestic tourists do not spend that much money in the local area.

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Even if you paint it that 20% of GDP is generated by Foreign Tourists , theres still 80% of the Thai economy that has nothing much to do with it.

80% is a substantial whack.

Its misguided to walk down Bangla , or Beach rd Chaweng , and conclude  ALL Thailand is  the same and on in great difficulty .

When I visit Krabi Town , Trang , or Nakhon Sri Tammerat ,  its business as usual .

Some  big towns  like NST and Haad Yai  , are even busier with the many returnees (  relocating from the troubled South and  the Tourist islands )  and rubber  is up in demand and price as well. 

 

Edited by zaZa9
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1 hour ago, Bob12345 said:

 

Nice graph but what does it show ?   What are the different coloured lines ?   Does it relate to the numbers cited in any way ?   or is it all BS  ?

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On 10/15/2020 at 9:38 AM, impulse said:

Overall, year on year from January through August:

Personal Income tax receipts fell by -40.83% (from B1,928bn to B1.369bn),

Corporate income tax fell -68.94% (from B2.862bn to B1.694bn), and

VAT receipts fell -32.46% (from B3.964bn to B2.993bn).

 

Ponder the implications behind those numbers for a minute.

 

 

I prefer to to ponder about the numbers and registered tax payers....

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