Tax sector collects VND672.878 billion

	Tax sector strives to complete plan on implementation of e-invoices nationwide
	Domestic revenue increases 13% in the first four months
	Tax sector launches second phase of e-invoices

The Tax Department has conducted tax management through inspection, examination and debt management. Photo: Thuy Linh.

According to the latest report of the General Department of Taxation, the total state budget revenue in May 2022 managed by the tax agency is estimated at VND99.100 billion or 8.4% of the assigned target, exceeding 12.5% of the tax revenue of the same period in 2021.

From January to May 2022, the tax sector collected VND672,878 billion or 57.3% of the assigned target, up 16.5% year-on-year.

16 of 19 tax revenues saw good results (over 45%). Notably, revenues from the production and business sector reached 54.7% of the estimate, up 11.5% year-on-year. Of which, revenue from the state-owned sector is estimated at 50.6%; FDI sector is estimated at 50.6%; and non-state sector and services is estimated at 60.4%. 44 of 63 cities and provinces recorded good growth rate of over 50%.

The above results thanked to the good economic growth, the good control of pandemic and the recovery of production and business activities. The Government's supportive policies have been effective, encouraging businesses to speed up their production and business activities. The number of new enterprises and enterprises restoring operations in the first four months of 2022 rose by 26.9% year-on-year (there are 20,100 new enterprises and enterprises restoring operations each month on average), said the General Department of Taxation.

Besides, domestic consumption demand in the last months of 2021 and early 2022 surged creating momentum for our country's economy to maintain its growth rate. Another reason is world’s oil price which has been maintained at a high level; Brent oil prices are in the range of 107-110 US$/barrel, which has had a positive impact on the revenue from crude oil in the first five months of 2022.

In addition to objective factors that positively affect budget collection, the tax sector has conducted tax management through inspection, examination and debt management and enforcement.

Furthermore, the tax sector has strengthened administrative reform, modernization and electronicization at all stages of tax administration. Accordingly, following the successful completion of phase 1 e-invoices, on April 21, the tax sector launched e-invoice program for phase 2 in 57 cities and provinces and strived to implement e-invoices nationwide before July 1, 2022.

Moreover, the tax sector is running two applications, including an electronic portal for foreign suppliers and eTax Mobile. So far, there have been 129,400 downloads and installations of eTax Mobile application on both Android and iOS operating systems. Almost 50,524 accounts registered for electronic transactions through the eTax Mobile. 30,972 transactions were conducted through the commercial banking system with a total amount of over VND200 billion.

Tax sector launches e-invoices VCN – The Tax sector has urgently prepared conditions to apply e-invoices in the second phase in ...