State budget collection up 14.5%

State budget collection up 14.5%

State budget collection in the first half of this year was estimated at over VND335 trillion.

Nhan Dan/VNA – State budget collection in the first half of this year was estimated at over VND335 trillion (US$15.7 billion), up 14.5% over the same period last year.

The sum represents 53.7% of the whole year’s estimate, according to the Ministry of Finance’s General Department of Tax.

The achievement was attributed to the sector’s efforts to facilitate tax declaration by firms.

The department has worked with the Bank for Investment and Development of Vietnam (BIDV) to pilot an e-tax collection system in Hanoi and Vinh Phuc and Bac Ninh provinces in a bid to reduce the time taken to file tax information.

Over 200 businesses have to date contributed VND115 billion to the State coffer via the system.

Online tax declaration has been boosted in all 63 provinces and cities with the involvement of over 366,900 firms.

In addition, more than VND90 trillion of tax revenue has been collected through 20 commercial banks across the country.

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