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Sunday, February 25, 2024

Jan-Sept State budget revenue drops 8.3%

By Nguyen Tan

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HCMC – Vietnam’s State budget revenue in the year to end-September had declined by 8.3% over the same period last year, according to the Ministry of Finance.

The total State budget revenue in the January-September period amounted to nearly VND1,224 trillion, equivalent to 75.5% of the 2023 estimate.

The central Government achieved around 77.9% of its projected budget, while local budget revenues met only 72.6% of their projections.

Regarding domestic revenue, the total budget revenue collected by tax agencies reached VND75.6 trillion in September.

In the nine-month period, domestic revenue was estimated at VND1,013 trillion, equivalent to 76% of the estimate, down 3.2% versus the year-ago period.

According to the General Department of Taxation, the decrease in State budget revenue in the nine months was attributed to the difficulties faced by businesses and the implementation of financial support policies to prop up the economy.

During this period, the authorities have continued to implement various policies to support businesses and individuals, such as tax exemptions and reductions, and extending tax payment deadlines.

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