Budget revenue reached nearly 70% of the projected amount.

On August 5th, the Ministry of Finance announced the budget revenue situation for July 2024 and the first seven months of the year.

Specifically, total state budget revenue in July 2024 managed by the Tax authorities is estimated at 138,500 billion VND, reaching 9.3% of the projected target and 101.3% compared to the same period in 2023.

Of this, revenue from crude oil is estimated at VND 4,800 billion, equivalent to 10.4% of the projected figure and 115% compared to the same period in 2023; domestic revenue is estimated at VND 133,700 billion, equivalent to 9.3% of the projected figure and 100.9% compared to the same period in 2023.

For the first seven months of 2024, total state budget revenue managed by tax authorities is estimated at nearly 1.02 trillion VND, equivalent to 68.6% of the projected target and 114.9% compared to the same period last year.

Revenue from personal income tax reached 72.1% of the projected amount, an increase of 15.1% compared to the same period last year.

Of this total, revenue from crude oil is estimated at VND 34,377 billion, equivalent to 74.7% of the projected figure and 97.3% compared to the same period last year; domestic revenue is estimated at VND 985,325 billion, equivalent to 68.4% of the projected figure and 115.7% compared to the same period last year. Domestic tax and fee revenue is estimated at VND 762,442 billion, equivalent to 70.3% of the projected figure and 111.2% compared to the same period last year.

Fourteen out of twenty revenue items and tax categories performed well, including several major ones such as: Revenue from foreign-invested enterprises; Revenue from the non-state economic sector; Personal income tax; Fees and charges; Revenue from land and water surface leases; and Revenue from lottery activities.

Notably, revenue from personal income tax reached 72.1% of the projected amount, an increase of 15.1% compared to the same period last year, mainly due to increased personal income tax revenue from real estate transfers (up approximately 65%) and personal income tax revenue from securities transfers (up approximately 32.6%).

Besides the personal income tax revenue figures, the General Department of Taxation (Ministry of Finance) also has information regarding delays in personal income tax refunds.

According to the General Department of Taxation, some cases of delayed tax refund processing are due to taxpayers submitting tax returns to the wrong tax authority; under-declaring taxable income; incorrectly declaring the period of dependent deductions or declaring dependents who do not meet the eligibility criteria for deductions; under-declaring deductible mandatory insurance contributions; incorrectly declaring the amount of personal income tax withheld or provisionally paid during the year compared to the data compiled by the tax authority; or providing incomplete tax withholding or personal income tax payment documents...

In the coming period, the General Department of Taxation will continue to direct tax authorities to actively implement programs and plans for disseminating information and providing support through various forms to assist and resolve difficulties for taxpayers in understanding policies and completing tax settlements in accordance with regulations.

Source: https://www.nguoiduatin.vn/thu-ngan-sach-dat-gan-70-du-toan-204240805171400221.htm