Budget revenue from taxes hits 76% of yearly estimate

The tax sector collected more than 1,048 trillion VND (nearly 43 billion USD) for the State budget in the first nine months of 2023, equivalent to 76.3% of the estimate for the whole year and 94.9% compared to the figure in the same period last year, the General Department of Taxation reported on October 4.

Out of the 20 types of receipts and taxes, 13 achieved a relatively high level of collection (over 76%). Of which, revenue from the State-owned enterprise sector reached 80% while those from personal income tax and fees and charges were estimated at 78.4% and 82.4%, respectively.

Twenty-five out of the country’s 63 provinces and centrally-run cities have completed over 76% of their yearly estimates, the agency said.

To continue to support people and businesses to overcome difficulties and accelerate economic recovery in 2023, the National Assembly and the Government have issued policies to reduce, exempt and extend taxes for them with a total amount of 148.3 trillion VND.

General Director of the General Department of Taxation Mai Xuan Thanh said that it is expected that budget collection will still face many difficulties in the last quarter of the year, thus the tax sector will strive to fulfill the assigned targets.

It will synchronously and drastically implement solutions to strengthen tax revenue management and prevent tax losses while expediting value-added tax refunds for businesses in line with legal regulations, he said.