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Sunday, June 16, 2024

State budget revenue up in Jan-Jul

The Saigon Times

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HCMC – The State budget revenue in the January-July period of this year totaled over VND911 trillion, meeting 77.5% of the full-year target and rising 17.2% year-on-year, according to the General Department of Taxation under the Ministry of Finance.

Growing business and production contributed to the budget collection gain, resulting from the success in fighting Covid-19 and the effectiveness of the Government’s Covid support policies, the local media reported.

Of the total, domestic revenue accounted for VND868 trillion, a year-on-year increase of 15%.

The index of industrial production in the year to July had improved 8.8% year-on-year, while the country’s export revenue picked up 16.1% year-on-year and its import turnover rose by 13.6%.

During the seven-month period, Vietnam’s total retail sales of goods and services ticked up 16% year-on-year, the highest growth rate in five years.

Besides, the country also saw the tourism sector rebound strongly in the January-July period, with 954,000 international travelers to Vietnam, a 10-fold year-on-year surge.

Over the past seven months, the taxation agency offered multiple support programs to residents and firms to overcome the pandemic and further develop. The total amount of reduced and exempted taxes was some VND35.6 trillion, while extended tax payments amounted to VND43 trillion.

In addition, the State budget lost VND763.5 billion during the seven-month period due to the cut in environmental production tax on jet fuel.

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