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Wednesday, June 19, 2024

State budget revenue up over 10% in Jan-Apr

The Saigon Times

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HCMC – State budget revenue in the first four months of the year rose by 10.7% over the same period last year, the General Department of Taxation said on May 6.

In January-April, total state budget revenue reached nearly VND640.3 trillion, representing 43% of the estimated revenue for all of 2024.

Revenue from crude oil surpassed VND21.2 trillion, achieving 46% of the projected budget, while domestic revenue hit VND619 trillion, meeting 43% of its target.

In a bid to enhance transparency and efficiency in the gold market, the General Department of Taxation proposed promoting cashless transactions for gold trading, urging the State Bank of Vietnam to consider regulations mandating non-cash payments.

Aligned with the Government directives and Finance Ministry guidelines, the tax authority implemented various measures to ensure state budget targets are met. These initiatives include tax relief measures and fee reductions totaling VND25.51 trillion in the first four months.

VND10.9 trillion was allocated for value-added tax relief, VND13.2 trillion for environmental protection tax, and VND1.4 trillion for land rent fees.

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