CIT revenue in first two months records good result
Tax finalization in Hanoi: Urgent, serious but not negligent against Covid-19 epidemic | |
Customs’ revenue decreases 7.36% compared to 2019 | |
Ha Noi Tax Department pilots online tax booking app |
Central budget revenue in the first two month of 2020 was estimated at VND 115,900 billion. Photo: TL |
According to the General Department of Taxation, the revenue in the first two month saw a good result in progress and collection rate compared to a few recent years.As reported by the General Department of Taxation, budget revenue until the end of February 2020 of the Tax sector was VND248,229 billion or 19.8% of the estimate, equivalent to 113.9% compared to the same period last year.
The General Department of Taxation said that the increase in revenue was mainly due to good growth rate of 2019’s economic situation and increase in corporate income tax (CIT) revenue of the four quarter of 2019 in January (up 14.5% compared to same period last year).
In addition, localities also remitted revenue from land use fees and land rental fees in January; revenue from lotteries significantly increased because some lottery companies remitted 2019 after-tax profit in January (up 86.4% compared to the same period last year).
According to statistics by the General Department of Taxation, by the end of February, nine out of 19 revenues and taxes were good (more than 17%) of which there were some big revenues such as: FDI sector reached 20.8%, industry and trade and non-State sector reached 18.4%; personal income tax 18.8%; lotteries 33.6% and land use fees 22.5%.
In addition, eight out of 18 revenues reached less than 17% such as: State-owned enterprise sector was estimated at 16%; environmental protection tax 14.4%; registration fee 13.3%; fees and charges 15.3%; fees for granting mining right 9.5%.
If compared with the same period last year, there were 10 out of 18 revenues and taxes seeing good revenue growth, such as: FDI sector increased by 13.4%; non-State sector increased by 3.8%; personal income tax increased by 4%; environment protection tax increased by 20.8%; land rentalfees increased by 58%, and land use fee increased by 28.7%.
In particular, there were eight out of 18 revenues and taxes reaching results lower than the same period last year: State-owned enterprises sector was 96.5%; registration fee 90.5%; fees and charges 94.1%; and fees for granting mining rights 61.2%.
Handling of administrative violations in tax, treasury and customs agencies reviewed VCN- The Ministry of Finance has just issued Decision No. 179 / QD-BTC on theplan to review ... |
According to the General Department of Taxation, with such state budget revenue results, the central budget revenue in the first two months of 2020 was estimated at VND115,900 billion (equal to 19.5% of the estimate, equal to 117.5% compared to the same period last year). Along with that, local budget revenue was estimated at VND128,571 billion (or 19.5% of the estimate, 110.8% over the same period last year).
Related News
Nghi Son port border gate customs: Stimulating demand for import and export through the seaport
06:47 | 30/04/2024 Customs
Ta Lung Customs' revenue flourishes
10:31 | 24/04/2024 Customs
Import-export turnover across Lao Cai International Border Gate surges
15:35 | 24/04/2024 Customs
State-owned enterprises flourished
14:15 | 19/04/2024 Finance
Latest News
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
More News
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Strictly monitor market fluctuations to appropriately adjust prices
14:46 | 27/04/2024 Finance
Closely monitoring market fluctuations to consider appropriate time to adjust prices
09:30 | 26/04/2024 Finance
How does the Land Development Fund work effectively?
09:19 | 26/04/2024 Finance
Vietnam seeks to remove obstacles in upgrade of securities market
13:50 | 25/04/2024 Finance
Price stability from supply increase and transparency in trading in gold market
09:42 | 25/04/2024 Finance
SBV takes more actions to stabilise foreign exchange rates
13:43 | 24/04/2024 Finance
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT
10:35 | 24/04/2024 Finance
Corporate bond maturity in 2024 remains high: MoF
13:51 | 23/04/2024 Finance
Your care
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance