Tax revenue: 11/17 tax revenues reached over 66%

	Tax revenue reached more than 91% of the estimate
	In the first 8 months of 2017, Tax revenues of Ha Noi Taxation Department reached 62.5% of the estimate
	Tax revenues increased highly thanks to FDI enterprises

In August 2018, the tax revenue gained VND 73,500 billion. Photo TL.

According to data from the General Department of Taxation, in August 2018 the tax sector collected VND 73,500 billion. Thus, the cumulative revenue in the first eight months of 2018 for the tax sector reached more than VND 724 trillion. This accounted for 67.7% of the estimate and increased 15.7% compared to the same period last year.

In particular, the revenue from crude oil was estimated at VND 40,876 billion (equal to 113.9% of the estimate, up 35.1% over the same period of 2017); Domestic revenue was estimated at VND 683,676 billion (equal to 66.1% of the estimate, equal to 114.7% over the same period last year). The revenue excluding land use fees, dividends, profit and the revenue from lottery were estimated at VND 546,146 billion, equal to 62.9% compared to the estimate, up 15.7% over the same period last year.

According to the General Department of Taxation, in general, in the first eight months of this year, the tax revenue managed by the tax agency was quite good over recent years both in terms of progress and revenue growth. The main reason was due to the price increase of crude oil with an average price of 73 USD / barrel during the eight month period, so that the budget from crude oil reached 113.9% of the estimate, up 35.1% over the same period last year.

Along with that, the real estate market was vibrant, the localities actively promoted the activities of land allocation, land lease, auction of land use rights and recovery of land use debts from projects which were launched in the previous years, so that the budget revenue from land in most localities was quite good, estimated at 93.3% of the estimate, up 20.3% over the same period last year.

According to the report, 11 out of 17 tax revenues were good (over 66%), of which some big revenues were personal income tax (estimated at 69.4%); Land use fees (estimated at 93.2%); Land rental fees (estimated at 88.4%); Lottery (estimated at 79%, authorization of exploitation of minerals and water resources (estimated at 105%); other revenues (estimated 87.5%); Dividends and profits (estimated at 67.2%) ...

If compared to the same period last year, 15 out of 17 tax revenues had good growth such as for revenues from the state enterprise sector; from FDI sector; from personal income tax and from registration fee.

To gain these results, the whole tax sector has focused on directing and organizing the implementation of budget revenue management tasks under the direction of the Government, the Prime Minister and the Ministry of Finance.

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At the same time, the General Department of Taxation has also continued to upgrade the centralized tax management system (TMS) to meet the newly emerging operational requirements: reviewing and standardizing enterprise registered information, data on tax registration errors, and kept upgrading the electronic portal to provide tax services for taxpayers on tax registration, declaration and payment.