Seven-month State budget collection up 13.4 percent
Revenue to the State budget totaled 775 trillion VND in the first seven months of this year, equivalent to 58.7 percent of the yearly estimate and up 13.4 percent year-on-year, said the Ministry of Finance.
Hanoi (VNA) - Revenueto the State budget totaled 775 trillion VND (over 32.2 billion USD) in thefirst seven months of this year, equivalent to 58.7 percent of the yearlyestimate and up 13.4 percent year-on-year, said the Ministry of Finance onAugust 7.
Domestic revenue is estimated at 621.5trillion VND (nearly 26.9 billion USD), an increase of 14.3 percent from thesame period last year. The figure was equal to 56.5 percent of the projectionfor the whole year.
Revenue from crude oil surged 34.3 percentyear on year to 35.4 trillion VND (over 1.5 billion USD), accounting for 98.5percent of the yearly projection, while import-export activities brought in 172.5trillion VND (over 7.4 billion USD), representing a year-on-year rise of 3.4percent.
The export-import activities in the period under review maintained stable growth,with total value up 12.7 percent against the same period last year.
According to the ministry, State budget spending was at 759.7 trillion VND(over 32.6 billion USD), equal to 49.9 percent of the yearly projection and up9.8 percent compared to the same period last year.
Of this, development investment spending, debtpayment, and regular spending were 150.45trillion VND ( nearly 6.46 billion USD), 68.8 trillion VND (2.95 billion USD), and534 trillion VND (22.9 billion USD), up 26 percent, 10.4 percent, and 5.1percent compared to the figures of the same period last year, respectively.
Theministry said tax authorities have carried out over 30,000 inspections andcollected nearly 5.8 trillion VND (nearly 249 million USD) for the Statebudget. They also worked to prevent transfer pricing and reduce losses with a totalvalue of over 9 trillion VND (386.3 million USD) and retrieved 18 trillion VND (772.6million USD) in tax debt.
In addition, customs agencies have conducted 4.400 post-clearanceinspections, collecting 1.48 trillion (63.5 million USD) for the Statebudget.-VNA
Total revenue of the State budget reached 215.76 trillion VND in the first two months of 2018, equivalent to 16.1 percent of the yearly estimate and up 12.7 percent year-on-year, said the Ministry of Finance.
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Illustrative image (Source: VNA) 
