Budget revenue from taxes hits 76% of yearly estimate
The tax sector collected more than 1,048 trillion VND (nearly 43 billion USD) for the State budget in the first nine months of 2023, equivalent to 76.3% of the estimate for the whole year and 94.9% compared to the figure in the same period last year, the General Department of Taxation reported on October 4.
A woman pays tax at a collection point of Vietcombank's Can Tho city branch (Photo: VNA)
Hanoi (VNA) - The tax sector collected more than 1,048trillion VND (nearly 43 billion USD) for the State budget in the first ninemonths of 2023, equivalent to 76.3% of the estimate for the whole year and94.9% compared to the figure in the same period last year, the General Departmentof Taxation reported on October 4.
💝 Out of the 20 types of receipts and taxes, 13 achieved arelatively high level of collection (over 76%). Of which, revenue from the State-owned enterprise sector reached 80% while those from personal income taxand fees and charges were estimated at 78.4% and 82.4%, respectively.
Twenty-five out of the country’s 63provinces and centrally-run cities have completed over 76% of their yearlyestimates, the agency said. To continue to support people andbusinesses to overcome difficulties and accelerate economic recovery in 2023,the National Assembly and the Government have issued policies to reduce, exemptand extend taxes for them with a total amount of 148.3 trillion VND. General Director of the General Departmentof Taxation Mai Xuan Thanh said that it is expected that budget collection willstill face many difficulties in the last quarter of the year, thus the tax sector will strive to fulfill the assigned targets. It will synchronously and drastically implement solutions to strengthentax revenue management and prevent tax losses while expediting value-added tax refundsfor businesses in line with legal regulations, he said./.
The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD), equaling 62.7% of the yearly estimate and dropping by 7.8% from the same period last year.
The legal provisions related to State budget disclosure, accountability and people's participation in state management and the budget cycles are relatively complete, but there is still a number of gaps between legal documents and their actual implementation, according to research on the policies of State budget disclosure and engagement in the budget cycle.
The total State budget collection in the first eight months of this year was estimated at over 1,124 trillion VND (46.83 billion USD), or 69.45% of the estimate, down 8.8% year-on-year, according to the Ministry of Finance (MoF).
The total State budget revenue in the first eight months of this year topped 962 trillion VND (nearly 40 billion USD), equivalent to 70.1% of the estimate for the whole of this year and 93.9% compared to the figure in the same period last year, the General Department of Taxation reported on September 11.
The State budget revenue was estimated at over 1,223 trillion VND (50.8 billion USD) in the first nine months of this year, or 75.5% of the estimate, marking an annual decrease of 8.3%, according to the Ministry of Finance.
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A woman pays tax at a collection point of Vietcombank's Can Tho city branch (Photo: VNA) 
