Positive results in the first 7 months

According to the report, the total SBR managed by tax authorities in the first 7 months of 2024 reached VND 1,019,702 billion, equivalent to 68.6% of the legal estimate, and an increase of 114.9% compared to the same period last year. This is a positive result, demonstrating the recovery of the economy and the effectiveness of business support policies.

Some highlights of the revenue results include:

• Revenue from key economic sectors: Revenue from foreign-invested enterprises reached 66.7%, and revenue from the non-state sector reached 72.7%.
• Tax revenue: Personal income tax reached 72.7%, fees and charges reached 70.6%, and land lease revenue reached 83.7%.
• Tax debt collection: As of the end of July 2024, an estimated VND 50,527 billion was collected, a 26% increase compared to the same period.

Challenges and solutions

However, besides the positive results, there are still some challenges to be addressed, such as:

• Pressure on tax refunds: As of July 15, 2024, the Tax Authority had issued 1,747 decisions on VAT refunds with a total refund amount of VND 13,052 billion.
• Tax deferral: The policy of deferring tax payments according to the resolutions of the National Assembly and the Government has affected the total budget revenue.

To address these challenges, Deputy General Director Phi Van Tuan proposed a number of solutions such as:

• Strengthening inspection and audit: Continue to accelerate the implementation of the inspection plan for 2024 and submit to the General Department the inspection and audit plan for 2025.
• Reviewing and perfecting mechanisms and policies: Review the work of handling tax refunds at localities and advise on measures to strengthen VAT management.
• Promoting administrative reform: Simplifying tax administrative procedures, maintaining electronic tax declaration, payment, and refund services.
• Promoting communication and supporting businesses: Diversifying forms of communication to help businesses easily access, understand, and comply with tax policies.

Target of striving to exceed the target

In the remaining months of 2024, the tax authority will focus on key tasks such as:

• Adhering to the Government’s directives: Implementing solutions to strive to exceed the SBR target in 2024.
• Promoting the modernization of the tax system: Ensuring a smooth IT system to support businesses in fulfilling their obligations to the state budget.
• Strengthening inter-agency coordination: Closely cooperating with other agencies to combat tax evasion.

Deputy General Director Phi Van Tuan emphasized: “In the remaining months of 2024, the tax authority needs to promote the modernization of the tax system, simplify tax administrative procedures, maintain electronic tax declaration, payment, and refund services, and the electronic invoice system. At the same time, it is necessary to ensure that the IT system is smooth 24/7 to support taxpayers in fulfilling their obligations to the state budget from registration, declaration, payment, to electronic tax refund without having to go directly to the tax authority.”

Conclusion

Strengthening revenue management, combating tax evasion, and striving to exceed the SBR target is an important task that has a decisive impact on the country’s socio-economic development. With the proposed solutions, it is believed that the tax sector will successfully complete the assigned tasks.