In 5 months, the revenue collection of Tax sector achieved 41% of current appropriation

In the first 5 months of 2018, the Tax sector revenue achieved more than 445,000 billion VND. Photo: TL

According to the latest report of the General Department of Taxation, in May, the tax sector collected more than 80.9 thousand billion VND. Hence, accumulated in the first 5 months of 2018, the total revenue of tax sector reached 445.783 billion VND. This revenue was equivalent to 41.7% of the current appropriation and increased by 12.1% over the same period of 2017.

In particular, revenue which is collected from crude oil achieved 23,965 billion VND (equal to 66.8% of current appropriation). According to the General Department of Taxation, this revenue is derived from the average price of crude oil in the first 5 months which was higher than $US 14.5/barrel. In addition, domestic revenue reached 421.818 billion VND (equal to 40.8% of the current appropriation).

Additionally, the revenue excludes land use fees, dividends, profit remaining and lottery proceeds of 342,606 billion VND (equivalent to 39.5% compared to the current appropriation, increased by 12.3% over the same period in 2017 ).

According to the report, by the end of May, there were 8 out of 17 revenues where tax achieved better returns (over 43%) compared to the current appropriation; 14/17 revenues and tax revenue have good growth rate compared to the same period last year. In that, there are some big revenues, such as personal income tax reached 47.1%, increased by 19.7%; land use fees reached 53.1%, rose by 9.3%; land rental reached 52.7%, increased by 6.7%; revenue collected from lottery reached 58.1%; revenue collection from granting rights for mineral mining and water resources reached 82.6%; revenues collected from SOEs increased by 9.1%; Non-state sector increased by 17.5% ...

According to the General Department of Taxation, generally, the task of state revenue collection of Tax sector has ensured the schedule. Particularly, the tax sector has made a drastic effort to direct and organize the implementation of budget revenue management tasks, focusing on central budget revenues. Based on the specific norms which have already been assigned by the General Department of Taxation, the tax authorities at all levels have concentrated on reviewing and speeding up the collection and monitoring of tax debts.

A representative of the General Department of Taxation said that, based on the achievements, in the future, the whole Tax sector will continue to implement the state revenue plan in line with the assigned targets. In that, focusing on the indicators of balancing central budget; promote and enhance the effectiveness of all aspects of management and further promote the simplification, modernization and reform of tax administrative procedures under the Action Program in order to improve management effectiveness and facilitation to taxpayers.

Besides that, directing the whole sector to accelerate the tax inspection and examination progress; To raise the effectiveness of the recovery of tax debts, the General Department of Taxation requests local tax authorities to take the lead of the Party Committees and administrations at all levels in implementing solutions on management and exploitation of resources. Also, intensifying to fight against loss of revenue in order to ensure promptly monitoring the amount of revenues generated into State budget.