The General Department of Taxation said that the state budget revenue for the first six months of 2024 has made good progress in terms of both pace and speed. Today, in Hanoi, the General Department of Taxation under the Ministry of Finance conducted a mid-year review of the work done during the first six months and outlined the tasks for tax collection in the last six months of 2024.
The report from the General Department of Taxation shows that the accumulated state budget revenue for the first six months of 2024, collected by the tax sector, reached VND865,350 billion equivalent to 58.2 percent of the annual estimate and a 15.3 percent increase compared to the same period in 2023.
Specifically, revenue from crude oil reached VND29,692 billion (equivalent to 64.5 percent of the annual estimate and a 4.8-percent decrease compared to the same period in 2023), while domestic revenue reached VND835,658 billion (equivalent to 58 percent of the annual estimate and a 16.2-percent increase compared to the same period).
According to the assessment by the General Department of Taxation, the state budget revenue for the first six months of this year has achieved satisfactory progress and speed. Up to now, all 63 tax offices have submitted lists for reviewing entities subject to the implementation of electronic invoices (e-invoices) initiated from cash registers. Over 69,000 businesses have applied e-invoices initiated from cash registers, resulting in 542.36 million invoices, which is 5.2 times higher than the total for the entire year 2023.
Notably, tax management for e-commerce activities has been actively promoted by tax authorities. In the first six months of the year, there were 383 e-commerce trading platforms providing information on the e-commerce portal. Specifically, in the first five months of 2024, tax revenue management for e-commerce reached VND1.8 quadrillion (equivalent to US$71 billion), with approximately VND50,000 billion in taxes.
Currently, 101 foreign providers have registered, declared taxes, and directly submitted taxes through the electronic portal, totaling 4,039 billion dong for the first six months, an 18.5-percent increase compared to the same period in 2023.
Regarding value-added tax refunds, as of the end of June 2024, the entire tax sector has issued 8,740 decisions on value-added tax refunds, with a total refund amount exceeding VND63,000 billion.
In the first six months of the year, the tax authority has issued nearly 17,000 notices to prevent those who have not paid enough tax and has collected more than VND918 billion in tax debts from nearly 1,500 taxpayers.
