HANOI: Vietnam’s total state budget collection in the first four months of this year was estimated at 640.29 trillion VND (US$25.20 billion), equivalent to 43% of the yearly projection, representing a year-on-year rise of 10.7%, state news agency (VNA) quoted the General Department of Taxation as saying.

Of the total, collection from crude oil was about 21.23 trillion VND, equal to 46.2% of the projection and equal to that in the same period last year, while domestic collection was estimated at 619.06 trillion VND, 43% of the projection and up 11% over the same period last year, the department reported.

Domestic tax and fee collection was 478.43 trillion VND, up 7% year-on-year.

The department said that 25 out of the 63 localities completed over 40% of state budget projection for this year, while 26 others finished 30-40% of the plan and 12 reported under 30%.

In the Jan-April period, the total amount of tax and land rent exempted or reduced was about 25.5 trillion VND.

The department said that policies
on exemption and reduction of taxes, fees, charges, and land rental have helped promptly remove difficulties for businesses and people, ensuring macro-economic stability, controlling inflation, and supporting production and business recovery.

Source: Emirates News Agency