Monday, July 13 2020

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Tax revenue in five months equal to 97.6% of 2019's figure

Update: June, 05/2020 - 15:55
The COVID-19 pandemic has a significant impact on tax collection. — Photo baochinhphu.vn

HÀ NỘI — State budget revenue was estimated at nearly VNĐ500 trillion (US$21.5 million) in the first five months of this year, equal to 97.6 per cent of the figure of the same period last year.

Data published on Thursday by the General Department of Taxation showed that the estimated State budget revenue last month was VNĐ58 trillion, equal to only 63.1 per cent of the same month last year.

Of which, revenue from crude oil gained only 25.1 per cent of the same period last year. Domestic revenue is estimated at 65.8 per cent of the same period last year.

The COVID-19 pandemic has had a significant impact on tax collection. The General Department of Taxation has supported businesses to overcome difficulties and have solutions to ensure the revenue target.

The General Department of Taxation said the reason was the Government's nationwide social distancing decision, requiring non-essential businesses to close and others to limit activities, which has affected businesses and State budget revenue in April and May.

In addition, the implementation of the Government’s Decree 41/NĐ-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic also caused a sharp decline in budget revenues.

The decrease in five-month revenue is also partly attributed to the implementation of Decree 100/2019/NĐ-CP with severe sanctions for drivers who consumed alcohol.

This has led to a sharp decrease in alcohol consumption in many localities. — VNS

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