State budget revenue down 8.3 percent in nine months

The State budget revenue was estimated at over 1,223 trillion VND (50.8 billion USD) in the first nine months of this year, or 75.5% of the estimate, marking an annual decrease of 8.3%, according to the Ministry of Finance.

At a tax collection point in Vietcombank (Photo: VNA)

Specifically, domestic revenue managed by the tax authorities in September totalled 75.6 trillion VND, bringing the nine-month figure to more than 1,013 trillion VND, or 76% of the estimate, 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 49.6 trillion VND in taxes were exempted and reduced while around 102.9 trillion VND 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 October 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 programmes 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.