The Tax sector’s revenue collection reached 33% of current appropriation

Total revenue managed by Tax agency was estimated at VND490,196 billion.

Information was given at the briefing conference to evaluate task performance in the first quarter of 2024 and deploy solutions to carry out work in the second quarter, held by the General Department of Taxation on April 9.

In the first quarter, the General Department of Taxation focused on directing the entire sector to implement tax tasks and programs in 2024, strengthen revenue management, prevent revenue loss, and strive to complete the state revenue collection.

As a result, by the end of the first quarter, total revenue collection managed by tax authorities was estimated at VND490,196 billion, equal to 116.9% of the current appropriation of the first quarter, 33% of current appropriation, an increase of 10.9% compared to the same period in 2023. In particular, domestic revenue is estimated at VND474,460 billion, equal to 116.4% of the current appropriation of the first quarter, equal to 32.9% of current appropration, an increase of 11.5% over the same period in 2023.

In terms of revenues, there are 10 out of 20 revenues and taxes achieved quite good results compared to current appropriation (over 30%); there are 14 out of 20 revenues and taxes growing compared to the same period in 2023.

In terms of the management area, 35 out of 63 tax departments have reached over 30% of the current appropriation; 10 out of 63 tax departments reached 26% - 30%.

To achieve the above results, in the first 3 months of the year, the Tax sector continued to strictly implement solutions on tax extension, reduction, and exemption to support businesses, recover, and develop production and business. Accordingly, the Tax agency has exempted and reduced taxes and land rent for businesses of VND 18,012 billion.

Regarding tax refunds, the Tax agency has issued 4,472 decisions of VAT refund with a total tax refund amount of VND 31,892 billion, equal to 18.7% of current appropriation, an increase of 8% over the same period in 2023.

Regarding inspection and examination work, the Tax agency has carried out 6,849 inspections and examinations, reaching 100.7% compared to the same period in 2023. Also, checked 64,079 tax declaration dossiers at the Tax agency, equal to 80% compared to the same period in 2023.

The total amount of money proposed to be handled through inspection and examination is VND 6,019 billion, equal to 45.2% compared to the same period in 2023. The total amount of tax paid into the budget is VND 1,065 billion, equal to 50.5% of the increase of revenue collected through inspection.

Regarding tax debt management and tax debt collection, by the end of the first quarter of 2024, it is estimated to reach VND 26,868 billion, an increase of 23% compared to the same period in 2023. As of March 31, 2024, total tax debt is VND 186,022 billion, increasing 27.7% over the same period in 2023, rising 9.4%. In particular, receivable debt accounts for 55.6% of the total tax debt; the ratio of tax debt that can be collected on the revenue estimate for 2024 is 9.2%.

Regarding the results of implementing invoice issuance for each sale for petroleum business and retail activities, as of March 31, 2024, there were 15,931 petroleum retail stores in the whole country issuing electronic invoices for each sale, reaching 99.97% of the total number of petroleum retail stores.

To recognize outstanding achievements in the management and use of electronic invoices for petroleum business and retail activities, on April 8, 2024, the Minister of Finance awarded the Diploma Commendation from the Minister of Finance for 4 individuals and 7 groups under the General Department of Taxation.