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Vietnam collects nearly US$787 million in tax arrears in 6 months
Nguyen Tung 15:41, 2018/07/23
Tax authorities this year aim to collect a higher state budget revenue than 5% of the estimate set by the National Assembly, stated a representative of the General Department of Taxation.
In the first six months of 2018, Vietnam's tax authorities collected VND17.94 trillion (US$787 million) in tax arrears, while state budget revenue reached 50% of the year's estimate, according to the General Department of Taxation. 
 
Illustration photo.
Illustration photo.
The amount was equal to 43.1% of debts up to 90 days and longer as of the end of 2017, said Dang Ngoc Minh, deputy head of the General Department of Taxation. 

With the target of conducting on-site audits of at least 18.5% of enterprises in 2018, in the January - June period, a total of 30,000 enterprises were audited with an additional of over VND5.7 trillion (US$249 million) in tax arrears being detected, Minh added.

This resulted in an increase of VND2.6 trillion (US$113.6 million) in state budget revenue, equivalent to 45.37% of tax amount collected through audits. 

Meanwhile, in the first half of 2018, tax authorities collected VND531.5 trillion (US$23.2 billion) for the state budget, equivalent to 49.7% of the year's estimate and up 13.9% year-on-year. 

Of the total, revenue from crude oil jumped to VND29.5 trillion (US$1.28 billion), up 25.3% year-on-year, while domestic revenues reached VND496.7 trillion (US$21.69 billion), equivalent to 48% of the estimate and up 12% year-on-year.

According to the general department, each barrel of crude oil was sold at an average of US$71, US$21 higher than the estimate. Meanwhile, respective revenue from land use fees and land rents grew by 19% and 22.6%, compared with the same period last year, respectively. 

Furthermore, the economic recovery led to a higher budget revenues, with 14 out of 17 collection items growing year-on-year. A total of 44 out of 63 localities achieved positive results in collecting domestic revenues (above 50% of the estimate).

Tax authorities this year aim to collect a higher state budget revenue than 5% of the estimate set by the National Assembly, Minh stressed.
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