The information was released at a virtual meeting held by the General Department of Taxation on December 24, to review tax collection in 2021 and set out plans for 2022.

Total tax revenues as of December 24, reached 1.5 quadrillion VND (66.1 billion USD), exceeding 12.47 percent of the yearly estimate.

The General Department of Taxation said that 60 out of 63 provincial tax departments have exceeded the tax estimate set for 2021.

General Director of Taxation Cao Anh Tuan said that the taxation sector has completed its tasks in 2021, regarding tax collection, institution and policy building, tax system reform, improvements to the capacities of tax agencies, tax management and others.

The taxation sector is assigned to collect over 1.17 quadrillion VND in 2022, thus the sector should make more efforts to fulfil its task, as 2022 is forecast to be a difficult year due to the Covid-19 pandemic, according to Minister of Finance Ho Duc Phoc.

“The stimulus package on tax exemption and reduction in 2022, will be much larger than in 2021, which is a challenge for the financial sector in general and the tax sector in particular,” said the Finance Minister.

The General Department of Taxation set out a number of solutions to achieve the set target in 2022 with the focus on enhancing the tax debt management and collection, renewing tax inspection and examinations, increasing the application of information technology, promoting electronic tax inspection, and others.

FDI enterprises recover quickly, pay high taxes

(BGO) - In May and June this year, the Covid-19 outbreak in Bac Giang province had negative impacts on the activities of busineses, including foreign direct investment (FDI) enterprises, in industrial parks. However, with their efforts to overcome difficulties, these enterprises quickly restored production and business, making positive contributions to the state budget.

Seven out of 16 taxation collections exceed yearly estimation

(BGO) – According to the Taxation Department in Bac Giang province, amid the impact of Covid-19 pandemic this year, seven out of 16 taxation collections exceeded the assigned yearly estimation.

Tax payment and land rent extension: Timely support for production and business

(BGO) – In late April, the Government issued Decree No. 52/2021/ND-CP on extending the deadlines for paying value added tax (VAT), corporate income tax (CIT), personal income tax and land rent in 2021. After more than 3 months of implementation in Bac Giang province, this policy is considered as a "remedy" to help businesses affected by the Covid-19 pandemic overcome difficulties and stabilize production and business.

Bac Giang exceeds yearly plan on import export taxation collection

(BGO) – According to the Customs Sub-Department controlling the industrial parks in Bac Giang province, the state budget collection has hit over 1,185 billion VND (52 million USD) so far, exceeding the assigned target and representing over 154 percent of the year on year figure.

Vietnam considers $933 mln tax break

The government is considering a VND21.3 trillion ($932.66 million) tax break, including value-added and corporate income tax, to boost economic recovery after the fourth Covid-19 wave.

Source: NDO