Specifically, compared to the same period, personal income tax from real estate transfer activities was only 41.9%; personal income tax from securities transfer activities was only 50%; real estate registration fees were only 51.8%... Revenue from land use fees decreased sharply over the months. In the fourth quarter of 2022, the average revenue reached about 15,600 billion VND/month, while the average in the first 4 months of 2023 was only about 8,000 billion VND/month. Value added tax revenue was only 91.3% compared to the same period, showing signs of declining consumer demand. At the same time, special consumption tax revenue was only 91% of the same period.
Tax revenue fell in the first months of the year.
Evaluating the revenue collection results in April and the first four months of 2023, the General Department of Taxation said that the progress of state budget revenue collection has shown signs of decreasing month by month. Specifically, in January, revenue was about VND 95,400 billion; in February, revenue was about VND 85,300 billion; in March, revenue was about VND 85,000 billion; in April, revenue was about VND 80,000 billion.
In the first 4 months of the year, the state budget revenue managed by the tax authority was over VND 578,030 billion, equal to 42.1% of the ordinance estimate, equal to 100.7% of the same period. The budget revenue in the first 4 months of the year still ensured the estimated progress and had a growth rate compared to the same period. The increase in budget revenue was mainly due to many sources of provisional quarterly payments, unexpected sources and increases from one-time revenue in January (previous years, revenue was collected in the 4th quarter of the previous year, but now it is collected in the 1st quarter of this year). If excluding these revenues, the accumulated domestic revenue in the first 4 months of 2023 was only 88.7% compared to the same period.
In May, the General Department of Taxation will deploy revenue management, prevent revenue loss, strengthen inspection, examination, and collection of tax arrears; urgently accelerate the disbursement of state budget capital in 2023, especially information technology projects in the period of 2021 - 2025 approved by the Ministry of Finance ; projects under the socio-economic recovery and development program; continue to implement tax policy packages and solutions to support businesses and people to recover and develop production and business activities; at the same time, focus on completing the contents submitted to the Ministry on global minimum tax as required by the Government and the National Assembly.
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