Tax transaction at Hà Nội Department of Taxation. — VNA/VNS Photo

Total State budget collection in the first four months of this year was estimated at VNĐ640.29 trillion (US$25.20 billion), equivalent to 43 per cent of the yearly projection, representing a year-on-year rise of 10.7 per cent, according to the General Department of Taxation.

Of the total, collection from crude oil was about VNĐ21.23 trillion, equal to 46.2 per cent of the projection and equal to that in the same period last year, while domestic collection was estimated at VNĐ619.06 trillion, 43 per cent of the projection and up 11% over the same period last year, the department reported.

Particularly, domestic tax and fee collection was VNĐ478.43 trillion, up 7 per cent year on year.

The department said that 25 out of the 63 localities completed over 40 per cent of State budget projection for this year, while 26 others finished 30-40 per cent of the plan and 12 reported under 30 per cent.

In the Jan-April period, the total amount of tax and land rent exempted or reduced was about VNĐ25.5 trillion.

The department said that policies on exemption and reduction of taxes, fees, charges, and land rental have helped promptly remove difficulties for businesses and people, contributing to ensuring macro-economic stability, controlling inflation, and supporting production and business recovery.

It said that in the rest of the year, the tax sector will keep a close eye on the domestic and world economic developments, analysing impact from fiscal and monetary policies that other countries are applied on the health of domestic enterprises, thus warning the risks and giving advice to the Ministry of Finance and the Government on responding measures so as to ensure the State budget revenue for the whole year.

At the same time, the sector will show stronger performance in implementing support packages to help businesses remove difficulties and create sustainable income sources for the State, while designing new packages. — VNS