Taxation sector fulfils 60 percent of tax collection estimate

Workers process lychee for export at a factory of the Vifoco Import Export JSC (Photo: VNA)

The taxation sector has collected over 752.6 trillion VND (32.45 billion USD) for the State budget, equivalent to 60 percent of the yearly estimate and 91.9 percent of the figure of the same period last year, the General Department of Taxation reported.

Of the amount, about 25.48 trillion VND came from crude oil, 72.4 percent of the estimate and 64.4 percent of the collection in the same period last year. Domestic revenues topped 727.13 trillion VND, or 59.6 percent of the estimate and 93.3 percent compared to the same period last year.

The department also said total tax debt in the first eight months of this year had increased compared to the amount at the end of 2019.

It attributed the rise to delayed payment of land use fees and land lease, as well as the government’s policy to reschedule tax payment for enterprises hit by the COVID-19 pandemic.

Another reason is that many tax payers have encountered difficulties in business and production activities under the impact of the pandemic./.