Business

Tax revenue up 4.4% year-on-year in January

Tax revenue in January was estimated at 165.7 trillion VND (7.06 billion USD), or 12.1% of the ordinance estimate, up 4.4% year-on-year, the General Department of Taxation reported on January 31.
Tax revenue up 4.4% year-on-year in January ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Tax revenue in January was estimated at 165.7 trillion VND (7.06 billionUSD), or 12.1% of the ordinance estimate, up 4.4% year-on-year, theGeneral Department of Taxation reported on January 31.

Accordingly, revenuefrom crude oil hit 5.3 trillion VND, equal to 12.6% of the estimate and 167.7%of the figure in the same period last year. Domestic revenue was estimated at 160.4 trillionVND, equivalent to 12% of the ordinance estimate and 103.1% of the figure a year ago.

Revenue from State-owned enterprisesaccounted for 13.2% while that from foreign-invested sector 14.1%, individualincome tax 8.1%, fees and bills 10.2%, land use tax 6%, and environment protectiontax 3.1%.

The State, non-State and foreign-invested sectors recorded respective growth of 15.3%, 21.1% and 18.3% in revenues to the State budget. 

This year, the taxsector was assigned to collect over 1.37 quadrillion VND in taxes, 42 trillionVND of which will be from crude oil and the remainder from domesticcollection./.

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