State budget revenue down 8.3% in nine months

By VNA   October 4, 2023 | 06:21 pm PT
State budget revenue down 8.3% in nine months
Inside a footwear factory in the central province of Nghe An. Photo by VnExpress/Phuong Linh
The state budget revenue was estimated at over VND1,223 trillion ($50.8 billion) in the first nine months of this year, marking an annual decrease of 8.3%, according to the Ministry of Finance.

Specifically, domestic revenue managed by the tax authorities in September totaled VND75.6 trillion, bringing the nine-month figure to more than VND1,013 trillion, down 3.2% year-on-year, reported Director General of the General Department of Taxation Mai Xuan Thanh.

Thanh attributed that to the difficulties faced by businesses in their operations and the enforcement of financial support policies for people and firms.

As of the late September, about VND49.6 trillion in taxes were exempted and reduced while around VND102.9 trillion had their payment deadlines extended, he said, predicting that the State budget collection will still meet difficulties in the final quarter.

He said the sector will focus on measures to increase revenues to the state budget, ensure accurate and timely collection, enhance the recovery of overdue debts, thus striving to meet and exceed the assigned revenue target.

Addressing a meeting in Hanoi on Oct. 3 to launch the sector's tasks for October and the remaining months of this year, Deputy Minister of Finance Nguyen Duc Chi asked relevant units to fine-tune laws and ensure the schedule and quality of schemes and programs previously set.

They were also urged to strengthen price management, especially prices of necessities such as petrol and electricity to curb inflation while enhancing the supervision of the stock and corporate bond markets to ensure their transparent and legal operations.

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