Revenue from business and production by Hanoi Department of Taxation reduces

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State budget revenue in the first four months of 2020 by Hanoi Department of Taxation was impacted by the Covid-19 pandemic. Photo: Thuy Linh

According to the Hanoi Department of Taxation, the Covid-19 pandemic had a bad and large –scale impact on almost all enterprises and business households, making the business and production of taxpayers interrupted, causing State budget revenue of the department to reduce.

The budget revenue in the first fourmonths of 2020 by Hanoi Tax Department was VND 84,847 billion or 32.6% of the estimate, equal to 103.7% compared to the same period in 2019.

Revenue from crude oil was 1,747 VND billion, or 83.2% of the estimate, equal to 127.9% compared to the same period in 2019; total domestic revenue reached VND 83,100 billion or 32.2% of the estimate, equal to 103.3% compared to the same period in 2019. Revenue from the production and business sector in the first four months of 2020 reached VND 43,228 billion, or 29.5% of the estimate, equal to 88.8% over the same period in 2019.

According to the Hanoi Department of Taxation, for the Government's support package to be substantive and effective for the business community and taxpayers in the locality, the department has provided timely information to all officials and employees and 100% of taxpayers in the city with emails connected to the department.

As a result, on May 11, the Hanoi Department of Taxation received 27,261 applications for tax and land rent payment extension of taxpayers in the cityworthmore than VND 8,623.6 billion. In particular, the amount of organizations and enterprises were more than VND 8,604.5 billion (including VND 1,742.6 billion of VAT, VND 6,225.3 billion of corporate income tax and VND 636.6 billion of land rent) and the amount of business individuals was VND 19.1 billion (including VAT and personal income tax).

To ensure budget tasks in 2020, Hanoi Department of Taxation will focus on implementing tax management solutions to combat tax base erosion and profit shifting; managing fully and promptly the subjects and payables to the budget and proactively grasping the list of subjects of application and tax amount and land rent subject to payment extensions under the Government's Decree No. 41/2020 / ND-CP to have measures to monitor and urge payment as soon as the extended term is over, minimizing newly arising debts.

The department will also continue to coordinate closely, regularly and effectively with the departments, sectors and authorities of districts and towns in the city to solve problems of enterprises and investors related to debts of land use fees and land rent before June 30; speed up the implementation and settlement of procedures related to the determination of land use fees and land rent obligations so enterprises and investors make the payment to the State budget as soon as possible.

Hanoi Customs: Many solutions for revenue collection have been deployed to overcome the impact of Covid-19

In particular, tax agencies will follow the situation of production, business, revenues - cash flow, tax declaration and payment of taxpayers to promptly remove difficulties and obstacles; implement policies of the central and city (tax payment extension, exemption - reduction - refund and excluding late payment interest) on solving difficulties, supporting taxpayers to cope with the impacts of the Covid-19 pandemic; urge declaration and payment fully and promptly and increase revenue.