Tax sector's budget revenue increases by nearly 11% in first quarter

The tax sector’s total state budget revenue in the first quarter of 2024 was estimated at 490.2 trillion VND (19.64 billion USD), equal to 33% of the estimate for the year, and 10.9% higher than the figure of the same period last year, the General Department of Taxation announced on April 9.

Of the total revenue, domestic revenue was estimated at 474.46 trillion VND, equal to 32.9% of the estimate for 2024, an increase of 11.5% over the same period in 2023.

Regarding the implementation of tax policies to support people and businesses to recover and develop production and business after the COVID-19 pandemic, the total amount of tax and land rent exempted and reduced in the first three months of 2024 was estimated at 18 trillion VND.

Regarding the implementation of the e-invoice policy, by the end of the first quarter, tax agencies received and processed 7.12 billion e-invoices, including 2 billion invoices with the tax authority's verification codes and more than 5.12 billion invoices without the codes.

By the end of the first quarter of 2024, 50,303 businesses had registered to use e-invoices generated from cash registers. More than 252.8 million invoices were generated from cash registers.

As of March 31, 15,931 petrol stations nationwide had issued electronic invoices for each sale or 99.97% of the total number of petrol stations across the country.