Of the total, domestic collection was over 868 trillion VND, equivalent to 75.7% of its plan for this year. Meanwhile, as of the end of July, the sector completed its central budget collection target by 75.8% and local collection by 78.9%.

Staff at Da Nang Customs Department.

The General Department of Taxation attributed the results to the good economic growth in the first months of this year thanks to the recovery of business and production activities amid controlled pandemic situation.

Along with rolling out drastic measures to strengthen tax management, the sector has applied solutions to support people and enterprises to promote business and production, including the reduction of environmental protection tax on fuels as well as the cut of some fees.

The department forecast many difficulties and challenges in budget collection in the time to come. In the context, it has directed taxation agencies to review income sources and continue to speed up administrative reform and the digitalization of tax management to support tax payers.

Finance ministry proposes tax cuts on gasoline

The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down.

Enterprises recover, well implement tax policy

(BGO)- Covid-19 pandemic outbreak in Bac Giang province in the middle last year adversely impacted operation of almost companies. However, thanks to the great efforts to overcome difficulties, several enterprises have recovered their production and business with dramatically increased turnovers and made positive contribution to the state budget.

6 out of 16 tax revenues in Bac Giang surpass from 5 to 37 percent against the same period

(BGO)- According to the Taxation Department of Bac Giang province, the total domestic tax revenue in Bac Giang province in the first 5 months this year is estimated at 6.619 trillion VND (285 million USD), up 6 percent against the same period last year and equal to 53 percent of the yearly tax estimate.

Vietnam approves tax system reform strategy until 2030

Deputy Prime Minister Le Minh Khai has signed a decision on approving the tax system reform strategy until 2030 with the goal of streamlining tax management and expanding the tax base.

Q1 personal income tax collection up 20 percent

First quarter personal income tax collection grew 20 percent year-on-year to VND50.7 trillion ($2.22 billion), achieving 43 percent of the year’s target, the General Department of Taxation says.

Source: NDO/VNA