The taxation sector collected more than 1.14 quadrillion VND (49.46 billion USD) in tax for the State budget in 2018, equal to 107.2 percent of estimates and up 12.3 percent from 2017.
The taxation sector collects more than 1.14 quadrillion VND (49.46 billion USD) in tax for the State budget.(Photo: VNA)
Hanoi (VNA) – Thetaxation sector collected more than 1.14 quadrillion VND (49.46 billion USD) intax for the State budget in 2018, equal to 107.2 percent of estimates and up12.3 percent from 2017, as heard a conference of the Vietnam General Departmentof Taxation (GDT) on January 10.
General Director of the GDT BuiVan Nam said 61 out of 63 localities in the country fulfilled and overfulfilledtheir tax collection targets, with 48 localities surpassing their targets bymore than 7.3 percent.
Deputy Prime Minister Vuong DinhHue highlighted that 2018 marked the first time tax collection surpassed themark of 1 quadrillion VND, adding that the growth in domestic revenue washigher than the GDP growth plus inflation, which demonstrated the strength ofthe economy.
The Government officialattributed the achievements to the setting of high target, the strongleadership of the Government and the efforts of the tax sector.
He said the National Assembly isscheduled to consider and approve the revised law on tax management, which willcreate opportunities for the sector.
The Deputy PM added that thesector should make recommendations on revising laws related to taxationpolicies following the tax reform orientation under the Party Politburo’s Resolution07-NQ/TW and in line with international practice.
He also requested the taxsector, in collaboration with the Finance Ministry, to make reports on the situationof foreign direct investment, helping the Government to submit to the Politburoa resolution on orientations for FDI attraction.
The sector should study andpropose to the Finance Ministry and Government taxation mechanisms and policiessuitable with the digital economy and its new business models.
General Director Nam said the sector hasassigned tax bureaus nationwide to strive to surpass tax collection target by atleast five percent in 2019.-VNA
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The taxation sector collects more than 1.14 quadrillion VND (49.46 billion USD) in tax for the State budget.(Photo: VNA) 
