Tax revenue estimated at more than VND165,000 billion in first month

	Tax revenue from real estate transfer surges
	HCM City Tax Department collects additional tax revenue of about VND2,000 billion
	There has been no loss of tax revenue from donated and gifted cars

The Tax agency will develop tax supporting solutions and extend payment deadline of tax, land rent in 2023. Photo: TCT.

Specifically, revenue from crude oil is estimated at VND5,300 billion (equivalent to 12.6% of the assigned target and exceeding 67.7% compared to the same period in 2022); domestic revenue is estimated at VND160,400 billion (equivalent to 12% of the assigned target, exceeding 3.1% over the same period in 2022).

According to the General Department of Taxation, compared with the estimate, eight of 19 tax revenues achieved goods results, (over 8%), including some large revenues such as state-owned enterprises 13.2%; foreign-invested enterprises 14.1%; personal income tax 8.1%.

11 of 19 revenues reached less than 8% such as registration fee revenue 7.2%; land use fee 6.0%; green tax 3.1% due to the implementation of Resolution No. 20/2022/UBTVQH15 on reducing the green tax rate for gasoline (except ethanol), diesel oil, fuel oil, lubricants, grease, oil fire, jet fuel; non-agricultural land use tax 4.4%; real estate transfer 5.2%; the fee for granting the right to exploit mineral resources 2.0%.

Notably, compared with the same period, six of 19 revenues and tax rates increased such: revenue from the state-owned enterprise sector rose 15.3%; revenue from foreign-invested enterprises rose 18.3%; revenue from the non-state economic sector rose 21.1%; revenue from lottery activities rose by 25.3%; and other budget revenues rose 85.7%.

The General Department of Taxation said that the tax agency will closely monitor and evaluate the economic situation in the country and the world; analyze the impacts of the fiscal and monetary policies offered by countries on the production and business activities of domestic enterprises to identify risks and promptly advise the Ministry of Finance and the Government to develop scenarios and solutions to actively managing collection in February and the first quarter of 2023.

The Tax agency will develop supporting solutions and extend the payment deadline of tax and land rent in 2023; and continue to reform and modernize the tax system, simplify tax administrative procedures, maintain online tax declaration and payment, refund services and the electronic invoice system.

The General Department of Taxation will also drastically and effectively implement tax management for e-commerce activities, digital platform business, anti-transfer pricing, and anti-revenue loss; continue to effectively operate the electronic portal for foreign suppliers and the portal to receive information from domestic e-commerce trading floors to increase revenue.

Impressive growth in budget revenue VCN - The Government's support policies have been working well; businesses have accelerated their production and business ...

Especially, the tax agency will continue to implement projects on digitization such as tax payment services for land, business households and individuals; online declaration and payment of registration fees for cars and motorbikes; pilot online tax declaration for house rental activities; promote online tax lookup, registration, declaration and payment services to individual taxpayers, especially focusing on disseminating the e-Tax Mobile application; work with commercial banks to have full data on taxpayers to control their income and tax obligations and avoid revenue-loss.