Domestic revenue in the first 9 months is expected to reach 74.5% of the estimate

	Taxation: Budgetary revenues in the first 6 months of 2018 reached 49.3%
	First half of 2018: Domestic revenue of 36 provinces reached over 53% of the estimate
	Domestic revenue has not reached expectations

Although the progress of the central revenue collection is higher than the 2 recent years, revenue only reaches 70.1% of the estimate. Photo: T.L

According to the General Department of Taxation, the total revenue collected by the Tax sector until the end of September 2018 is expected at 74.5% of the estimate, a year on year increase of 15.4%, achieving positive result compared to the recent years both in terms of progress and growth. Of which, revenue from crude oil was significant, the average revenue in the first 9 months is expected to reach US$ 73.8/barrel, so this revenue reached 134% of the estimate, up 42.5%.

In addition, the real estate market has prospered, localities have actively promoted the land allocation, land lease, auction of land use rights and recovery of land use fees, thus, revenue from land in localities was expected to reach 105% of the estimate, a year- on- year increase of 17.2%.

However, the General Department of Taxation also said that if excluding revenue from crude oil and land, revenue in the first 9 months was expected to reach lower than the estimate (accounting for 68.6%, an increase of 13.4%), mainly due to the low revenue from business operations, it was expected to reach 64.9% in the first nine months. Although the progress of the central revenue collection is higher than the 2 recent years, revenue only reaches 70.1% of the estimate.

The collection progress in some localities was lower than the average progress of the whole country, including major localities allocated by central budget.

The General Department of Taxation said that according to the forecast, besides the favorable factors, the economic situation from now to the end of the year may have unpredictable risks such as the expansion of international trade disputes, the impact of natural disasters and epidemics.

Therefore, for the remaining tasks of quarter IV/2018, in order to strive to exceed at least 5% of the ordinance estimate of domestic revenue in 2018 under the direction of the Minister of Finance, the General Department of Taxation has sent official letters to 63 local tax departments and requested them to coordinate with local agencies to drastically implement tax administration measures.

In which, the leader of the General Department of Taxation requested tax divisions and branches in these localities to continue drastic measures for revenue collection and strive to complete the target. To closely monitor the budget collection, specifically report and give an analysis of each area, each region and each tax, and sum up the report on the results of revenue collection.

Tax authorities at 63 localities continue accelerating, urging and supervising for tax payers’ declarations, focusing on checking for mistaken declarations, business sectors that have signs of mistakes or inaccurate declarations of taxable amount, actively requesting enterprises to accurately and promptly pay taxes into the State budget.

Domestic revenues are relatively high thanks to land revenues and fees VCN- According to the General Department of Taxation, the progress of budget estimation in the first 4 ...

The tax authorities shall review arising corporate income tax and the remaining profits of 2017, and the first 3 quarters of 2018 in order to urge the taxpayers to accurately and promptly pay taxes .

Tax authorities at all levels shall intensify inspection and supervision to ensure the quantity and quality. To enhance the efficiency of the average tax arrears on each inspection; Select units with high risk and high tax arrears for inspection. To promptly urge to remit revenue into the State budget revenue through inspections, including conclusions and recommendations to the State Audit Office and the Government Inspectorate.

Also, the General Department of Taxation’s leader also requested local tax departments to assign the task of tax collection to each tax department’s leader, each head of division and tax officer in charge of tax debt administration and tax debt enforcement.