The total state budget revenue reached 651.7 trillion VND (28.7 billion USD) in the first half of this year, equivalent to 49.4 percent of the estimate and up 14.3 percent year-on-year, Deputy Minister of Finance Huynh Quang Hai reported at a meeting in Hanoi on July 18.
Hanoi (VNA) – The total state budgetrevenue reached 651.7 trillion VND (28.7 billion USD) in the first half of thisyear, equivalent to 49.4 percent of the estimate and up 14.3 percentyear-on-year, Deputy Minister of Finance Huynh Quang Hai reported at a meetingin Hanoi on July 18.
Revenue from crude oil achieved 82.4 percent of itsestimate value, which was up 25.3 percent against the same period last year.Revenue from export-import activities and domestic revenue fulfilled 54.9percent and 47.6 percent of their estimates, representing year-on-yearincreases of 6.9 percent and 15.5 percent, respectively.
However, the Ministry of Finance said revenue from state,non-state, and foreign-invested businesses remained low, accounting for only 43.7percent, 47.8 percent, and 38.7 percent of the estimates.
Of the total revenue, the central budget collectionmade up 46.2 percent of the estimate, as compared with 41.5 percent in thecorresponding time last year, and the local budget collection was equivalent to54 percent of the estimate.
Meanwhile, budget spending stood at about 649.2trillion VND (28.6 billion USD), or 42.6 percent of the estimate.
Hai said the ministry will continue to buildinstitutions and policies, and make the best use of incentives to promoteproduction and business, thus giving a boost to the national economy in theremaining months of the year.
At the same time, the ministry will step upadministrative reform and raise the efficiency of state management, especiallyin the tax and customs sectors, while improving the business environment and nationalcompetitiveness in line with the Government’s resolutions.
The ministry aims to exceed the estimate of Statebudget collection set by the National Assembly by 3 percent, the officialstressed.
To that end, the ministry will work harder toprevent revenue losses, smuggling, trade fraud, and tax avoidance. It will alsointensify tax inspections, handle tax debts, increase price and marketmanagement, improve the quality of the financial service market, and help finaliseaccounting and auditing markets.-VNA
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Illustrative image (Source: doanhnhanviet.net.vn) 
