State budget collection rises 18.2% in two months

Wednesday, 2019-03-06 21:24:53
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Total state budget revenue estimated at nearly US$10.6 billion in January-February. (Photo for illustration)
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NDO/VNA – Total state budget revenue was estimated at nearly VND246.5 trillion (US$10.6 billion) in the first two months of 2019, up 18.2% year-on-year and equivalent to 17.5% of the target for the whole year.

According to the Ministry of Finance, domestic revenue was estimated at VND204.8 trillion (US$8.8 billion), growing 19% from the same period last year. The figure was equal to 17.4% of the estimate.

Earnings from crude oil fell 1.7% to approximately VND8.7 trillion (US$374 million), accounting for 19.5% of the estimate.

In the period, state budget spending was at VND195.4 trillion (US$8.4 billion), or 12% of the estimate and up 9.6% year-on-year.

The ministry said that it will work to ensure sufficient capital for the implementation of socio-economic targets.

It has also asked the General Department of Taxation and the General Department of Vietnam Customs to carry out efficient state budget collection measures, step up inspections on tax collection and post custom clearance, as well as enhance the management of tax debts.