Vietnam collects record tax revenue from lottery sales in 2023: ministry
Vietnam collects record tax revenue from lottery sales in 2023: ministry
Vietnam’s tax revenue from lottery sales reached an all-time high of VND45.8 trillion (US$1.9 billion) last year, according to the Ministry of Finance.
Vietnam recorded the highest-ever tax revenue from lottery sales in 2023. Photo: Khac Tam / Tuoi Tre |
The figure was up 22 percent or VND8.3 trillion ($339.7 million) over the target set by the law-making National Assembly.
The major contributors to the lottery tax revenue were 21 lottery companies in the south, such as those in Ho Chi Minh City, Binh Duong Province, and Dong Nai Province.
Ho Chi Minh City Lottery Co. Ltd. was projected to generate over VND11.37 trillion ($464.4 million) in turnover and nearly VND1.5 trillion ($61.3 million) in pre-tax profits in 2023.
It also looked to submit over VND3.8 trillion ($155.2 million) to the state coffers.
Meanwhile, Vinh Long Lottery Co. Ltd. in the namesake southern province yielded a revenue of some VND6.4 trillion ($261.3 million) and paid VND1.7 trillion ($69.4 million) in taxes, according to the Southern Lottery Council.
Long An Lottery Co. Ltd. reported lottery sales at around VND6.3 trillion ($257.2 million) and tax payments to the state budget at nearly VND2.4 trillion ($98 million) last year.
The respective figures of Ben Tre Lottery Co. Ltd. were VND6.3 trillion (257.2 million) and over VND1.76 trillion ($71.9 million).
Soc Trang Lottery Co. Ltd. submitted nearly VND1.43 trillion ($58.4 million) to the state budget in January-September last year, reaching 92 percent of the full-year target.
