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For the first eleven months, the Tax sector collected VND 997,397 billion, equalling 93.2% of the estimate.

For the first eleven months, the Tax sector collected VND 997,397 billion, equalling 93.2% of the estimate, up 14.5% over the same period in 2017. Of which, revenue from crude oil was estimated at VND 57,932 billion, equalling 161.4% of estimate, up 41.1%; domestic revenue was estimated at VND 939,465 billion, equalling 90.8% of estimate, up 13.1%; revenue excluding land use fees, dividends and profits from lottery was estimated at VND 755,608 billion, equalling 87.1% of the estimate, up 16.1% over the same period last year.

According to statistics, 9 out of 17 revenues and taxes (91%) achieved significant results, of which some of the revenues completed the estimates such as revenue from land use fee was estimated at 125.8%; revenue from land rental fee was 137.3%; revenue from granting the exploitation right of mineral and water resource was 129.3% and revenue from the lottery was 99.9%. Compared to the same period, 14 out of 17 revenues gained good growth rate. Of the total domestic revenue in 11 months, the central budget revenue was estimated at VND448,000 billion, equal to 88.8% of the estimate, up 15.7%; the local budget revenue was estimated at VND 549,397 billion, equalling 97.1% of the estimate, up 13.5% over the same period in 2017.

According to the General Department of Taxation, the total revenue of the 11 months gained good results both in progress and rate (in the 11 months of 2017, the revenue reached 85.5% of the whole year, up 15.7% over the same period last year. Similarly, in 2016, the revenue reached 84.7%, up 7.2%, and in 2015, the revenue reached 87.1%, up 10.8%). The main reason was the significant increase in crude oil prices and the real estate market which was so exciting with transactions of land lease, transfer and auction as well as debt recovery of land use fee from projects deployed in previous years.

However, if excluding revenues from crude oil and land, the budget revenue was lower than the estimate (by 86.3% of the estimate, up 13.1% over the same period), mainly due to revenue from business and production, which reached the lowest rate in recent years

Therefore, in order to ensure the progress of revenue collection, in the remaining month of the year, the General Department of Taxation requires the whole sector to make great efforts to fulfil this political task. Accordingly, the targets that need to be completed are: ensuring the state budget revenue in excess of desired target set out; boosting and enhancing the effectiveness of all aspects of management; further strengthening tax administrative reform under the action program to raise management efficiency and facilitate taxpayers.

Moreover, the General Department of Taxation requests local tax agencies to review, synthesize and update accurately the tax debts for each enterprise, each area, ensuring the good performance of tax debt recovery to the State budget.

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Especially, determining the remaining month as a rush period to assess the performance of the task in 2018, and as a period for preparation of action program for 2019, the General Department of Taxation requests each civil servant to proactively promote the spirit and responsibility for the tasks; each tax agency to make all efforts to fulfil the assigned tasks, contributing to winning political tasks of the whole sector.