Tax revenue grows 8.5 per cent year-on-year
Tax revenue grows 8.5 per cent year-on-year
The total budget revenue managed by the tax authorities is estimated at VND1.46 quadrillion (US$61.6 billion), equal to 124.3 per cent of the ordinance's estimate, an increase of 8.5 per cent over the same period last year.
In which, domestic revenue is estimated at VND1.39 quadrillion, equaling 121 per cent of the ordinance estimate, a year-on-year increase 6.6 per cent.
Domestic tax and fee collection is estimated at VND1.06 quadrillion, equal to 116.4 per cent of the ordinance's estimate, a growth of 5.3 per cent compared to the implementation last year.
“In 2022, the whole industry has reduced taxes for businesses by an estimated VND233 trillion, but still achieved impressive revenue. This is a great success demonstrating the efforts, solidarity and creativity of the localities," said the Minister of Finance Ho Duc Phoc at a conference to review tax works for this year and deploy tasks for next year last week.
The Minister asked tax agencies to continue paying attention to the issue of value-added tax refunds.
When finalising the Tax Laws and guiding documents, it was necessary to pay special attention to this issue and clearly define the responsibilities of the units in implementing VAT refund, he said.
Regarding digital transformation in the tax field, the Minister said that the General Department of Taxation had done very well and continued to promote and build a tax data centre for risk management and effective tax management.
The Minister also noted that tax authorities needed to continue to implement drastically and effectively the fight against transfer pricing and tax evasion, but must actively support businesses, create conditions to nurture revenue sources, and help businesses have conditions for implementing tax obligations to the State.
Besides, the tax agencies also need to perfect tax policies and laws; diversify communication methods and raise awareness of tax laws for taxpayers and businesses; strengthen co-ordination with customs agencies, the State Bank of Vietnam, the Ministry of Public Security and relevant agencies in tax administration, in particular, taking care of human resource training and attracting talents.
