Tax revenue reached nearly 36% of the estimate

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Budget revenue in April managed by tax authorities was estimated at VND 114,100 billion, accounting for 9.8% of the draft ordinance. In the photo: Operations at District 1 Tax Branch (Ho Chi Minh City Tax Department).

According to data from the General Department of Taxation, budget revenue in April managed by tax authorities was estimated at VND 114,100 billion, accounting for 9.8% of the draft plan, equal to 114.7% compared to in the same period of 2018. Accumulated for four months, total tax revenue was estimated at VND 419,710 billion, accounting 35.9% of the goal and up by 15% compared to the same period in 2018.

Revenue from crude oil was estimated at VND 18,291 billion, equal to 41% of the estimate, equal to 97.8% over the same period last year on the basis of the average crude oil price in the first four months of the year being estimated at US$65 per barrel, equivalent to 100% of the estimate, equivalent to 94.5% over the same period and the output being estimated at 3.9 million tonnes, equal to 37.3% of the estimate, equal to 98.3% of the same period last year.

Domestic revenue was estimated at VND 401,419 billion, accounting for 35.7% of the draft plan, up 16%. Revenue excluding land use fees, dividends and remaining profits and revenue from the lottery was estimated at VND 339,020 billion, equal to 35.7% of the draft ordinance, an increase of 18.5%.

With this result, in four months, the central revenue was estimated at VND 193,300 billion, accounting for 34.1 % of the estimate, up 19.5% over the same period last year; Local budget revenue was estimated at VND 226,410 billion, 37.7% of the estimate, up 11.5% over the same period last year.

From the beginning of the year until now, the Tax sector has strictly implemented tax debt management. The General Department of Taxation issued Official Letter No. 1608 / TCT-QLN dated April 23to provincial and municipal Tax Departments on strengthening tax debt management and enforcement of tax debt recovery. Since then, as of April 30, the tax authorities collected VND 10,350 billion. This revenue was equal to 26.7% of 90-day debts and over 90-day debts as of April 31, 2018, a year-on-year increase of 1.6%. Of which, revenue collected by debt management measure was VND 7,814 billion; by debt enforcement measure was VND 2,536 billion.

The report of the General Department of Taxation also showed the total tax debt amount (as of April 30, 2019) was VND 84,628 billion. In which, the 90-day and over 90-day tax debts (recoverable debts) were VND 46,491 billion (accounting for 54.9% of the total tax debts, rising by 20% compared to December 31, 2018).

Taxes and fees were VND 19,890 billion, accounting for 23.5% of the total tax debts ; land-related debts were VND 10,184 billion, accounting for 12% of the total tax debts; fines for administrative violations and late tax payment were VND 16,417 billion, accounting for 19.4% of total tax debts.

In addition, irrecoverable tax debts (of those who are dead, missing, lost civil act capacity, related to criminal obligation, dissolved, went bankrupt, stop operation orno longer operate at the registered business address) were VND 38,137 billion.

Besides promoting tax debt recovery, the General Department of Taxation has also conducted inspections well. By the end of April, the whole Tax sector conducted 13,046 inspections at taxpayers' offices, reaching 14.97% of the plan for 2019 and checked 84,090 tax declaration dossiers at the tax office.

The total amount proposed for handling through inspections was estimated at more than VND 9,563 billion, equal to 106.22% compared to the same period of 2018. Of which, total additional tax revenue through inspections exceeded VND 2,650 billion, reducing a deduction of more than VND 425 billion and a loss of more than VND 6,487 billion. The total tax amount contributed to the budget was more than VND 1,206 billion.

In April, the Tax sector issued 1,571 tax refund decisions worth a total amount of VND 10,243 billion, equal to 9.11% of the estimate assigned by the National Assembly 2019. Of which, export refunds made up 1,370 decisions with a total amount of VND 7,240 billion; investment refund was 141 decisions with a total amount of VND 2,722 billion; others were 60 decisions with a total amount of VND180 billion.

The General Department of Taxation also said that in the first four months of 2019, the tax sector issued 6,263 tax refund decisions with total amount of VND 38,301 billion. This refund was equal to 34.08% compared to 2018, equal to 34.41% of the value-added tax refund estimate assigned by the National Assembly in 2019.

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Regarding the refund of value added tax through the State Treasury, the total refund from January 1to April 30was VND 36,161 billion.