Tax revenue totals US$10.7 billion in first two months
Nearly VND246.449 trillion (over US$10.7 billion) in taxes was collected for the State budget in the first two months of 2021, equivalent to 22.1% of the estimate, according to the General Department of Taxation.
Of the figure, over VND241.5 trillion or 22.1% of the estimate was domestic revenue.
Tax revenue from State-owned and foreign enterprises reached 20.4% and 25.4% of the target, respectively.
According to the General Department of Taxation, the number of enterprises suspended their business in the reviewed period due to the COVID-19 pandemic rose 60.5% to over 19,700, resulting in the decrease of budget collection.
The Ministry of Finance has announced it may further extend tax payment deferrals to support companies suffering from the COVID-19 pandemic this year.
Last month, the ministry submitted to the government a proposal on the further extension on the payment deferral period of value-added, corporate income and personal income taxes as well as land use fees for pandemic-hit companies and household businesses in 2021.
It estimated that a total of VND115 trillion (US$4.98 billion) worth of tax and land use fee payments would have their deadlines extended.