The bulk of tax collection comes from three main agencies under the Finance Ministry-the Revenue Department, the Excise Department and the Customs Department. The current decline in oil prices will curb tax collection, notably in terms of value added tax on imported oil and the petroleum income tax. But cheap fuel could also spur consumption and lower the cost of doing business, which may make businesses more profitable and ultimately benefit the Revenue Department. During the first two months of fiscal
2016, the Revenue Department collected 231 billion baht in tax revenue, 8.59 billion shy of the target.