Domestic revenue collection starts to decline

Professional activities at Dien Bien Tax Department. Photo: TL

Among the total, domestic revenue reached VND 408.76 thousand billion, 32.3% of the current appropriation, down 3.7% over the same period in 2019 (the same period in 2019 hit 36.2% of the current appropriation, up 13.8%).

The General Department of Taxation issued a document to direct local tax departments to urgently organise the implementation of Decree No. 41/2020/ND-CP of the Government on extending deadline for paying tax and land rents for enterprises, organizations, households and individuals affected by the Covid-19 pandemic, and fullfil well the communication and dissemination of policies.

Along with that, guiding and facilitating taxpayers to declare and send request documents for extending the deadline via online, by post or directly transaction at the tax office; handling the extension for taxpayers in accordance with the prescribed regime, ensure timely, strengthen inspection and supervision, and avoid taking advantage of policies to make profit from the budget.

It is estimated that 47/63 localities in the country achieved revenue collection by more than 30% of the current appropriation, of that 32 localities reached more than 34% of the current appropriation; 28/63 localities reached a higher result over the same period, while 35/63 localities were lower than the same period.

Revenue collected from crude oil was estimated at VND 18.3 thousand billion, 52.1% of the current appropriation, up 0.9% over the same period in 2019. Average payment of crude oil in four months was US$58/barrel, lower than $2/barrel compared to the estimated price, equal to about 82% compared to the same period in 2019; the output is estimated at 3.2 million tonnes, 35.4% of the plan, 84.1% over the same period in 2019.

Revenue collected from import and export activities was VND 63.9 thousand billion, 30.8% of the current appropriation, down 19% over the same period in 2019, on that basis, the total amount of tax collection is estimated at VND 101 thousand billion, equaling 29.9% of the current appropriation, down 12.3% over the same period in 2019. VAT refund under the regime is about VND 37 thousand billion, equal to 28.5% of current appropriation.

In the first four months, total import and export turnover of goods was estimated at $162.8 billion, up 3.4% over the same period in 2019, with import turnover of some items with large revenues collection down such as: petrol and oil of all kinds decreased by 40.5%, completed automobiles by 36.6%, iron and steel decreased by 6.4%. Hence it affected to reduce the revenue collection of this region. Customs authorities have enhanced post-clearance audit; closely coordinate with competent forces to fight against smuggling, trade frauds and counterfeit goods; actively handling and recovering tax debts.