Tax revenue in five months hits almost 21.73 billion USD
The tax sector’s state budget revenue was estimated at nearly 500 trillion VND (21.73 billion USD) in the first five months of this year, equal to 97.6 percent of the figure of the same period last year.
The COVID-19 pandemic has a significant impact on tax collection. (Photo: baochinhphu.vn)
Hanoi (VNA) – The tax sector’s state budget revenue was estimated at nearly 500trillion VND (21.73 billion USD) in the first five months of this year, equalto 97.6 percent of the figure of the same period last year.
Datapublished on June 4 by the General Department of Taxation showed that the tax sector’sestimated State budget revenue last month was 58 trillion VND, equal to only63.1 percent of the same month last year.
Ofwhich, revenue from crude oil gained only 25.1 percent of the same period lastyear. Domestic revenue is estimated at 65.8 percent of the same period lastyear.
TheCOVID-19 pandemic has had a significant impact on tax collection. The GeneralDepartment of Taxation has supported businesses to overcome difficulties andhave solutions to ensure the revenue target.
TheGeneral Department of Taxation said the reason was the Government'snationwide social distancing decision, requiring non-essential businessesto close and others to limit activities, which has affected businesses andState budget revenue in April and May.
Inaddition, the implementation of the Government’s Decree 41/NĐ-CP on theextension of deadlines for tax and land use fee payments to support businessessuffering from the COVID-19 pandemic also caused a sharp decline in budgetrevenues.
Thedecrease in five-month revenue is also partly attributed to the implementationof Decree 100/2019/NĐ-CP with severe sanctions for drivers who consumed alcohol.
Thishas led to a sharp decrease in alcohol consumption in many localities./.
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The COVID-19 pandemic has a significant impact on tax collection. (Photo: baochinhphu.vn) 
