The country's tax revenues in the first five months of this year continued to grow despite reduction in tax collection from crude oil, according to the General Department of Taxation.
During this period, domestic tax collections were estimated to total 283.2 trillion VND (13 billion USD), representing an increase of 16.3 percent over the same period last year, including 42.4 trillion VND (1.94 billion USD) in May.
Taxes from crude oil, however, dropped by 34 percent against the same period to 30.3 trillion VND (1.39 billion USD), reaching only 32.6 percent of the target for the full year.
Meanwhile, in the first five months, tax collection from other export and import activities gained a year-on-year surge of 6.5 percent to 66 trillion VND (3.03 billion USD).
According to the Ministry of Finance, the domestic economy has reacted positively recently, but the economy is still faced with difficulties that could affect tax collections.
Therefore, the ministry would track the economic development in the near future to manage tax collection activities for reaching the yearly target.
The ministry would also implement solutions to increase tax revenues and prevent individuals and corporates from evading taxes.
The General Department of Taxation is also required in June to implement measures to collect more tax revenues and promote inspection of tax payment and after customs clearance.
The department will implement solutions against pricing transfers and tax arrears.
The tax revenues are expected to reach 167.6 trillion VND (7.7 billion USD) in the second quarter and 345.9 trillion VND in the first half of this year, the ministry said.
The tax sector planned to collect 731.6 trillion VND (33.56 billion USD) this year, of which 93 trillion VND (4.27 billion USD) would be from crude oil.-VNA
During this period, domestic tax collections were estimated to total 283.2 trillion VND (13 billion USD), representing an increase of 16.3 percent over the same period last year, including 42.4 trillion VND (1.94 billion USD) in May.
Taxes from crude oil, however, dropped by 34 percent against the same period to 30.3 trillion VND (1.39 billion USD), reaching only 32.6 percent of the target for the full year.
Meanwhile, in the first five months, tax collection from other export and import activities gained a year-on-year surge of 6.5 percent to 66 trillion VND (3.03 billion USD).
According to the Ministry of Finance, the domestic economy has reacted positively recently, but the economy is still faced with difficulties that could affect tax collections.
Therefore, the ministry would track the economic development in the near future to manage tax collection activities for reaching the yearly target.
The ministry would also implement solutions to increase tax revenues and prevent individuals and corporates from evading taxes.
The General Department of Taxation is also required in June to implement measures to collect more tax revenues and promote inspection of tax payment and after customs clearance.
The department will implement solutions against pricing transfers and tax arrears.
The tax revenues are expected to reach 167.6 trillion VND (7.7 billion USD) in the second quarter and 345.9 trillion VND in the first half of this year, the ministry said.
The tax sector planned to collect 731.6 trillion VND (33.56 billion USD) this year, of which 93 trillion VND (4.27 billion USD) would be from crude oil.-VNA
