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VAT refunds surpass VND127 trillion in Jan-Nov

By Nguyen Tan

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HCMC – Tax authorities had refunded VND127,783 billion worth of value-added tax by the end of November, achieving 68.7% of the estimate for tax refunds this year.

From January to November, tax revenue reached nearly VND1.34 quadrillion, equivalent to 96.7% compared to the same period last year, according to the Government’s news site at baochinhphu.vn.

Out of this total, VND56,544 billion came from tax revenue generated by crude oil, while VND1.28 quadrillion originated from domestic revenue.

During this period, the Government introduced numerous incentive tax policies, including tax reductions, exemptions, and payment deferments on land rent, totaling VND165,026 billion.

As of November 30, 2023, the refunded VAT amounted to VND127,783 billion, which represents 93% of the tax revenue collected during the same period last year.

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