Cumulative state budget revenue for 10 months equals 116.3% over the same period in 2023

According to the General Department of Taxation, the accumulated state budget revenue in the first 10 months of 2024 managed by the tax authority is estimated at VND 1,408,486 billion, equal to 94.8% of the ordinance estimate, equal to 116.3% over the same period. Of which, the total state budget revenue in October 2024 managed by the tax authority is estimated at VND 158,800 billion, reaching 10.7% of the ordinance estimate, equal to 98.9% over the same period in 2023.

Director General Mai Xuan Thanh gave a directive speech

Accumulated state budget revenue for 10 months equals 116.3% over the same period

The General Department of Taxation said that in October, the unit focused on directing the entire industry to promote the implementation of revenue management, prevent revenue loss, review and accelerate progress and determined to complete as many key projects and tasks as possible under the 2024 tax work program. Specific results:

Total state budget revenue in October 2024 managed by tax authorities is estimated at VND 158,800 billion, reaching 10.7% of the ordinance estimate, equal to 98.9% over the same period in 2023 (of which: Revenue from crude oil is estimated at VND 4,800 billion, equal to 10.4% of the estimate, equal to 77.3% over the same period in 2023; Domestic revenue is estimated at VND 154,000 billion, equal to 10.7% of the ordinance estimate, equal to 99.8% over the same period. Domestic tax and fee revenue is estimated at VND 110,700 billion, equal to 10.2% of the ordinance estimate, equal to 91.1% over the same period in 2023).

Total accumulated state budget revenue in the first 10 months of 2024 managed by the Tax authority is estimated at VND 1,408,486 billion, equal to 94.8% of the ordinance estimate, equal to 116.3% over the same period (of which: Revenue from crude oil is estimated at VND 48,857 billion, equal to 106.2% of the estimate, equal to 94% over the same period in 2023; Domestic revenue is estimated at VND 1,359,629 billion, equal to 94.4% of the ordinance estimate, equal to 117.3% over the same period in 2023).

17/20 revenue items and taxes achieved quite well compared to the estimate (over 88%), in which some large revenue items such as: Revenue from the non-state economic sector is estimated at 94.3%; Personal income tax is estimated at 98.7%; Fees - charges are estimated at 98.5%; Land and water surface rental revenue is estimated at 154.3%; Revenue from lottery activities is estimated at 99.3%;...

38/63 localities have achieved good progress in implementing the budget (over 88%). 55/63 localities have increased revenue, while only 8/63 localities have lower revenue than the same period in 2023.

Strengthening the implementation of tax management policies and functions

In the first 10 months of 2024, the General Department of Taxation focused on developing legal documents in accordance with legal regulations. Of which, 2 Decrees and 2 Circulars have been completed. 3 Decrees and 6 Circulars are being implemented.

In particular, to continue supporting people and businesses, accelerating economic recovery in 2024, the tax authority continues to effectively implement policies on exemption, reduction, and extension for businesses and people with the total amount of tax and land rent exempted, reduced, and extended in the first 10 months of 2024 estimated at VND 133,965 billion, of which: The amount of tax and land rent extension is about VND 70,816 billion; The amount of tax and land rent exempted and reduced is about VND 63,149 billion.

In parallel, the General Department of Taxation has focused on implementing groups of tasks, such as: Performing tax management functions; Applying information technology in tax management; Managing e-commerce tax (e-commerce) and has achieved remarkable results. Specifically:

Regarding tax inspection and examination: In the first 10 months of the year, the tax authority conducted 52,145 inspections and examinations, reaching 78.21% of the 2024 plan and 99.14% compared to the same period in 2023; inspected 409,625 records, equal to 83.13% compared to the same period in 2023. The total amount of money recommended for handling through inspection and examination was VND 51,362.1 billion, equal to 105.46% compared to the same period in 2023.

Regarding tax debt management: Tax debt collection in October 2024 reached VND 2,051 billion. Accumulated collection by the end of October 2024 was VND 58,143 billion, an increase of 33% over the same period in 2023.

Tax debt collection in October 2024 reached 2,051 billion VND. Accumulated collection by the end of October 2024 was 58,143 billion VND, an increase of 33% over the same period in 2023.

About work register, declare tax: Nationwide, there are 948,689 businesses in operation, an increase of 2.8% compared to December 31, 2023. 99.6% of businesses have used electronic tax declaration services with the number of electronic tax declaration records received being 13,537,751 records.

Regarding tax refund management: In the first 10 months of 2024, the tax authority issued 15,631 value-added tax refund decisions with a total refund amount of VND 118,119 billion, equal to 69.1% of the value-added tax refund estimate for 2024, equal to 105% over the same period in 2023.

Overview of the General Department of Taxation's meeting

About implementation Electronic invoice : By the end of October, the number of electronic invoices received and processed by tax authorities was estimated at 10.58 billion, of which 2.59 billion were coded invoices, more than 6.97 billion were uncoded invoices, more than 1.97 million were generated invoices, and more than 1 billion were generated electronic invoices from cash registers.

Result electronic invoice implementation Initialize from cash register: Accumulated from the implementation to the end of October 2024, 86,170 businesses have registered to use electronic invoices generated from cash registers, reaching 46.4% of businesses whose main business lines are subject to the implementation of electronic invoices generated from cash registers. Continue to maintain the implementation of electronic invoices issued for each sale for 100% of petroleum businesses nationwide.

Regarding the implementation of electronic tax registration and payment services via Etax Mobile application: Since its launch, there have been 1,905,631 downloads, installations and uses of the application, an increase of 197.7 times compared to the end of 2023; the number of transactions via Commercial Banks is 3,196,108 transactions with a total successful payment of VND 7,194.5 billion.

Result E-commerce tax management: In the first 10 months of 2024, the amount of tax paid by organizations and individuals with e-commerce business activities was about 94.6 trillion VND, an increase of 17% compared to the average tax amount in the first 10 months of 2023.

The e-commerce information portal has recorded 412 e-commerce trading floors providing information. Accordingly, there are more than 191 thousand organizations and individuals doing business on e-commerce floors with a total transaction value of nearly 72 thousand billion VND.

To date, 116 foreign suppliers (foreign suppliers) have registered, declared and paid taxes via the Electronic Information Portal for Foreign Suppliers. As of the end of October 2024, the state budget revenue from foreign suppliers was VND 19,774 billion. In 2024 alone, the revenue was VND 8,200 billion, an increase of 18.9% over the same period in 2023.

Focus on the final sprint of 2024

Based on the reports of the leaders of the units and the statements of the Deputy Directors General of the General Department of Taxation, at the conference to review the implementation of the tax work program in October, the plan to deploy tasks and the tax work program in November 2024, General Director Mai Xuan Thanh affirmed that in the context of the complicated developments in the world , which are forecast to continue to have significant impacts on Vietnam, the determination of the Tax sector in completing the task of collecting the state budget will have to be multiplied and the whole sector needs to continue to promote the highest sense of responsibility.

“To focus and make efforts in revenue management, striving to achieve the highest revenue according to the direction of the Government and the Ministry of Finance , we must continue to make efforts, especially in some localities where revenue has not met the estimated requirements. However, in addition to the collection task, the Tax Departments need to pay special attention to continuing to implement policies on tax, fee, land rent exemption and reduction and promptly remove difficulties for businesses and people to develop production and business activities, develop stably, promote economic growth, and create sustainable revenue sources for the state budget” - Director General Mai Xuan Thanh directed.

The General Director acknowledged the achievements of the Tax sector in synchronously and drastically implementing solutions to strengthen revenue management and combat revenue loss, associated with promoting administrative procedure reform, focusing on inspection and examination; debt collection management and urging; tax refund; strongly applying information technology; and implementing discipline and order in performing public duties.

However, General Director Mai Xuan Thanh said that although there have been positive signs in the state budget revenue results for 2/3 of the year 2024, the difficulties in the last 2 months of the year are still very great and it is necessary to continue to focus on directing the entire industry to promote the implementation of revenue management, prevent revenue loss, review and accelerate progress and be determined to complete the maximum number of projects and key tasks under the 2024 tax work program.

Accordingly, the entire Tax sector needs to focus on implementing a number of key tasks to strive for the best results in carrying out assigned political tasks, thereby creating a premise for tax work in 2025. Specifically:

One is, Continue to closely follow the direction of the Government, Prime Minister, Ministry of Finance, Minister of Finance; Closely monitor the collection progress, evaluate and analyze the collection situation in each locality, each collection area, revenue item, tax. Focus on directing and operating the state budget collection in the last months of 2024, striving to complete the collection task according to the assigned estimate under the direction of the Prime Minister in Official Dispatch 85/CD-TTg dated September 2, 2024 on managing the budget estimate.

Second, Continue to coordinate with media agencies, newspapers, radio and television to organize propaganda on the contents in the implementation of tasks and tax work such as: Tax refund work and difficulties and risks in value added tax refund; The situation of illegal purchase and use of invoices and the efforts of tax authorities in preventing and combating invoice fraud; Application of information technology in combating fake invoices; Tax management work for e-commerce, difficulties and challenges in tax management work for livestream sales activities.

Third, Continue to review and closely monitor tax refund settlement in localities and promptly advise on measures to enhance the effectiveness of value-added tax refund management, coordinate with units to remove difficulties and speed up tax refund settlement in the last months of the year.

Four is, Focus on speeding up the implementation of inspection and examination plans; Continue to promote and closely follow the implementation of inspection and examination topics to prevent budget loss.

Five is, Direct and urge local Tax Departments to implement debt management, fully apply measures to urge and enforce tax debt collection, urge tax and land rent payments to be extended according to tax support policies, and avoid debt and late payment.

Sixth, Continue to review and require foreign suppliers with cross-border service business activities in Vietnam to register, declare and pay taxes via the General Department of Taxation's Electronic Information Portal; Guide and support foreign suppliers to comply with tax laws in Vietnam.

In addition, continue to coordinate and work with foreign suppliers to collect information and data on organizations and individuals doing business on digital platforms and social networks, review, analyze and transfer data for cleaning, management and inspection.

Seven is, Continue to promote the implementation of tasks in Project 06, review and standardize personal tax codes with the Ministry of Public Security.

Eight is, Promote tax system modernization reform, simplify tax administrative procedures; apply artificial intelligence (AI) to tax management, prevent budget loss; operate and complete information technology infrastructure serving tax management.

Organize and operate well the information technology system, tax management application software, electronic tax declaration, payment, refund services, and electronic invoice system. Ensure the information technology system is running smoothly 24/7 to support taxpayers in fulfilling their obligations to the state budget from registration, declaration, tax payment, and electronic tax refund without having to go directly to the tax authority.

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