General Department of Taxation: State Budget collection continuously gets low result in 7 months

Enterprise does procedure at HCM City Tax Department. Photo: Nguyễn Huế

In particular, collection from crude oil was reached 3,500 billion vnd, equivalent to 9.1% appropriation and 103.2% compared to the same period that based on payment output was reached 1,130 thousand tons, payment price for oil in July reached $US 48/ barrel, lower than cost estimated by $US 2/ barrel and higher than the same period by $US 5.9/barrel.

Domestic revenue is estimated at 79,300 billion vnd, equaling 8.5% of appropriation and 94.4% of the same period last year. The revenue excluding land use fees is estimated at 73,300 billion vnd, equaling by 8.5% compared to an estimate based on the ordinance and 96.8% over the same period.

Thus, after the first seven months of 2017, the tax system earned 549,396 billion vnd, equaling 56.7% of the appropriation, increased by 10.1% over the same period (excluding revenue from the sale of State shares in enterprises).

In that, revenue collection from crude oil is estimated at 27,101 billion vnd, equal to 70.8% of the appropriation, increased by 16.2% over the same period. Revenue from crude oil is achieved quite well that is mainly due to average payment price of oil in 7 months was estimated at $US 53.7/barrel, higher than the estimated price by $US 3.7/ barrel and rose by 32.9% over the same period. Payment volume in the first seven months was estimated at 7,938 thousand tons, equaling 64.6% of the appropriation, equal to 88.6% over the same period.

Domestic revenue was estimated at 522,295 billion vnd, equaling 56.1% of the appropriation, increased by 9.8% over the same period. Revenue which is excluded from land use fees is estimated at 462,744 billion vnd, equal to 53.4% of the appropriation, increased by 7.7% over the same period of 2016.

In general, if it does not include incomings related to land, fees, and charges, the results of domestic revenue in 7 months is lower in terms of collection progress and growth rate over the same period in recent years.

In comparison with the appropriation, there are 9 out of 17 incomings, tax types are achieved quite good (over 58%) such as personal income tax is 60.8%; Land use fee is 93.5%; fee collection is 74%; 58.6% is collected in the commune; collection from lottery is 77.9%.

The 8 out of 17 remaining incomings have not guarantee progress of budget implementation such as: State enterprises sector is estimated at 48.3%; FDI sector is estimated at 50.1%; The industrial and non-state sector is estimated to reach 53.8%; Earning dividends and remaining profit are estimated at 40.3%; Registration fee is estimated at 54.4%; Environmental protection tax is estimated at 52.6%; another budget collection is estimated at 41.7%; collecting from granting mining rights is estimated at 57.4%.

Moreover, in comparison with the same period, there were 9 out of 17 incomings, tax types have growth rate in collection including FDI sector increased by 5.3%; The industry and non-state sector increased by 12.3%; Personal income tax increased by 19.4%; Land use fee increased by 29.8%; Land rents increased by 15.2%; Fees and charges collection increased 2.66 times;…

Meanwhile, 8 out of 17 revenues, tax types are lower than the same period that was collected from central government business enterprise by 95.4%; Agricultural land use tax was 73.3%; Non-agricultural land use tax was 78.7%; Collection from selling house was by 59%; Collection of environmental protection taxes was 95.7%; Registration fee was 93.3%, mineral mining license was 87%; Earnings and dividends were equal to 88.2%.

On central budget revenue, in July, this revenue was about 38,712 billion vnd, equaling 8% of appropriation, lower than the same period by 1.6%.

Up to now, the central budget collection of taxation sector has just reached 237,700 billion vnd, equaling 48.9% of the appropriation, increased by 18.2% over the same period last year, collection is progressing slowly in recent years (2016 achieved by 51.5%, 54.4% in 2015, 64% in 2014), collecting slower than the general budget progress (estimated at 56.7% of the appropriation) and slower than local budget progress (estimated at 64.6% of the appropriation).