Six-month State budget revenue achieves 58.8 percent of estimate

According to the report of the General Department of Taxation, the total State budget revenue managed by the tax sector in the first six months of this year is estimated at above VND656.37 trillion, achieving 58.8 percent of the estimate. In which domestic revenue is estimated at nearly VND637.65 trillion, equaling 58.3 percent.

The good results are mainly thanks to the economic growth momentum at the end of last year and the increase from some revenue sources due to benefit from fiscal and monetary policies in 2020, and some industries with high growth, such as banking, securities, real estate, and automobile manufacturing and assembly. After the impact of the Covid-19 pandemic in 2020, the activities of merger, consolidation, and re-evaluation of assets when contributing and transferring capital increased by 2.6 times compared to the same period last year, equivalent to an increase of about VND3.5 trillion. Revenue from securities trading rose by 2.47 times year-on-year, equivalent to an increase of VND2.6 trillion.

According to the General Department of Taxation, the budget collection in the first six months of this year has achieved initial results. However, it faces many difficulties and challenges, especially the impacts from the fourth wave of the Covid-19 pandemic. The tax sector will closely monitor the progress of the budget collection, evaluate, analyze specific impact factors on each locality, region, and tax. Moreover, it will also determine potential revenue sources, and fields and types of tax that still lose revenue and propose effective management solutions to perform the assigned tasks well.

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