Investment News

Budget revenue exceeded plan


Budget revenue managed by the tax agency is expected to reach 1.45 million billion VND, exceeding the estimate by 5.5% in the context of many difficulties for businesses and people.

At the Tax Industry Summary Conference on the afternoon of December 21, Ms. Pham Thi Tuyet Lan, Director of the Tax Collection Estimation Department (General Department of Taxation), said that by December 20, total budget revenue reached more than 1.39 million billion. VND, 1.7% higher than estimate.

The tax industry estimates that by the end of this year, it will collect 1.45 million billion VND, exceeding the estimate by 5.5%. However, total budget revenue in 2023 will decrease by 4.6% compared to 2022.

Explaining that tax revenue exceeded estimates, the tax industry said that in 2023, the world economic and political situation will become complicated and unpredictable, domestically, many fields will face difficulties... so as not to affect When it comes to budget collection, this agency offers many solutions. Specifically, strengthening revenue management, preventing revenue loss, promoting administrative procedure reform, reviewing processes, focusing on inspection, examination, and tax debt collection, and strictly controlling the tax declaration situation. declare, pay taxes, refund taxes...

At the same time, to support businesses and people in the difficult economic context, the tax industry has exempted more than 165,000 billion VND in taxes and land rent.

This agency has also extended payment deadlines, allowed gradual payment of debt to businesses with outstanding tax debt, and enforced enforcement on units that have the ability to pay but are tardy. During the year, tax recovered was more than VND 41,550 billion.

The General Department of Taxation added that as of December 20, 74 foreign suppliers, including large digital platforms such as Facebook, Google, and Netflix, paid VND 8,096 billion through the electronic portal. Of which, 6,896 billion VND is declared and paid directly, the remaining amount is deducted and paid on behalf of Vietnamese parties. This amount increased more than 2 times compared to last year's amount paid by these platforms through the electronic portal.

According to the tax industry, there are 357 e-commerce platforms providing information of individuals and business organizations through this channel. The tax agency has collected and handled 175 billion VND in violations from 179 businesses and 1,061 individuals doing business on the e-commerce platform.

In 2024, the National Assembly assigns State budget revenue of more than 1.48 million billion VND, of which domestic revenue accounts for 96%, the rest is revenue from crude oil and other items.

The economic forecast is still difficult, the tax industry said it will monitor the situation to have solutions to manage revenue, prevent budget loss and support people and businesses to restore production and business.

According to