Taxation sector fulfils 60% of tax collection estimate

Sunday, 2020-09-06 21:35:58
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Workers process lychee for export at a factory of the Vifoco Import Export JSC. (Photo: VNA)
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NDO/VNA – The taxation sector has collected over VND752.6 trillion (US$32.45 billion) for the State budget, equivalent to 60% of the yearly estimate and 91.9% of the figure of the same period last year, the General Department of Taxation reported.

Of the amount, about VND25.48 trillion came from crude oil, 72.4% of the estimate and 64.4% of the collection in the same period last year. Domestic revenues topped VND727.13 trillion, or 59.6% of the estimate and 93.3% compared to the same period last year.

The department also said total tax debt in the first eight months of this year had increased compared to the amount at the end of 2019.

It attributed the rise to delayed payment of land use fees and land lease, as well as the government’s policy to reschedule tax payment for enterprises hit by the COVID-19 pandemic.

Another reason is that many tax payers have encountered difficulties in business and production activities under the impact of the pandemic.