State budget collections down 1.2 percent in Q1

Illustrative photo (Source: VNA)

Hanoi (VNA) - State budget collections managed by tax agencies were estimated at 347.34 trillion VND (15.02 billion USD) in the first quarter of this year, equal to 31.1 percent of the estimate and down 1.2 percent year-on-year, according to the General Department of Taxation.

Collections from crude oil reached 8.02 trillion VND, or 34.6 percent of the estimate, while the remainder came from domestic revenue, equal to 31 percent of the estimate and up 1 percent against the same period last year.  

The production and business sector, covering State-owned, foreign-invested, and private enterprises, contributed 191.25 trillion VND, a year-on-year increase of 12.5 percent.

During the opening quarter, debt collections hit 9.07 trillion VND, or 30.1 percent of the target.

To fulfil budget collection tasks set for 2021, the department said it will focus on removing difficulties facing enterprises, improving the business environment, and attracting investment./.