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The Ministry of Finance (Abrv: MOF; Thai: กระทรวงการคลัง, RTGS: Krasuang Kan Khlang) is a cabinet ministry in the Government of Thailand.
| กระทรวงการคลัง | |
"The Seal of the Bird of Paradise" used as the Ministry's seal | |
 Ministry of Finance | |
| Ministry overview | |
|---|---|
| Formed | 14 April 1875 |
| Preceding agencies |
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| Jurisdiction | Government of Thailand |
| Headquarters | Phaya Thai, Bangkok |
| Annual budget | 242,948M baht (FY2019) |
| Minister responsible |
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| Deputy Ministers responsible |
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| Ministry executive |
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| Website | https://www.mof.go.th/th/home |
| Footnotes | |
| https://twitter.com/mofthailand, In Twitter | |
Considered to be one of the country's most important ministries, the Ministry of Finance has many responsibilities over public finance, taxation, the treasury, government properties, operations of government monopolies, and revenue-generating enterprises. The ministry is also vested with the power to provide loan guarantees for the governmental agencies, financial institutions, and state enterprises.[1]
The head of the ministry is the Minister of Finance (Thai: รัฐมนตรีกระทรวงการคลัง). He is a member of the Cabinet of Thailand and therefore appointed by the King of Thailand on the advice of the prime minister. As of 2020[update], the Minister of Finance is Mr Apisak Tantivorawong.[2] The MOF permanent secretary is Prasong Poontaneat.[3]
The MOF was allocated 242,948 million baht in the FY2019 budget.[4]
The ministry has existed in form since the 15th century during the Ayutthaya Kingdom. Then, the ministry was called the "Kromma Khlang" (Thai: กรมคลัง, Literally: Finance Department) finally upgraded to “Krom Phra Khlang” (Thai: กรมพระคลัง, sometimes written as "Berguelang" or "Barcelon" by foreign authors). The "Phra Khlang" or minister responsible had wide-ranging powers including those related to taxation, trade, monopolies, tributes, and even foreign affairs.
Most of these features were retained during the Rattanakosin era. In 1855 King Mongkut signed the Bowring Treaty with the United Kingdom. The treaty exposed Siam to modern trade and international commerce; the king was forced to set customs duty rate at no more than three percent; the country was at a disadvantage, but international trade grew. Soon the king was forced to set up a Customs House (Thai: ศุลกสถาน) and the Royal Thai Mint to deal with new challenges.
During the reign of King Chulalongkorn (Rama V), the ministry took its present shape. The king issued a royal decree in 1875 consolidating all powers and agencies under one ministry with a more focused portfolio. He appointed one of his uncles, Prince Maha Mala as the first minister of the Ministry of Finance. The ministry formally came into its own in 1933 via the Civil Service Reform Act of 1933. The Royal Treasury Ministry was then changed to the Ministry of Finance which now consists of 10 departments and 14 state enterprises.[5]
The MOF played a key role in the COVID-19 pandemic in Thailand as it was responsible for disbursing aid to needy citizens.[6]
This is a list of ministers of finance of Thailand:[7]
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