Tax revenue reaches over 19.7 billion USD in Q1: GPT

The tax sector collected an estimated 462.92 trillion (19.71 billion USD) for the State budget in the first quarter of 2023, equivalent to 31.1% of the yearly estimate, the General Department of Taxation (GPT) reported on April 3.
Tax revenue reaches over 19.7 billion USD in Q1: GPT
Tax revenue reaches over 19.7 billion USD in Q1. - Illustrative image (Photo: VNA)

Of the total, domestic collection reached over 411.4 trillion VND, equivalent to 30.9% of its estimate for the year, and up 5.3% compared to the same period last year.

Twenty-eight out of the country's 63 provinces and centrally-run cities have completed over 28% of their yearly estimates.

The General Department of Taxation said it received and processed 3.3 billion e-invoices, including 860 million e-invoices with code and 2.5 billion without code.

As of March 24, over 10,000 businesses, business households and individuals have successfully registered to use e-invoices generated from cash registers.

For e-commerce tax management, 49 foreign suppliers have registered, made tax declarations, and paid taxes through the portal for foreign suppliers. Meanwhile, as many as 285 organisations which are the owners of e-commerce platforms, provided their information through the portal.

This year, the tax sector is set to collect over 1.37 quadrillion VND for the state budget.

It has synchronously and drastically implemented solutions to strengthen tax revenue management and prevent tax losses, while accelerating administrative reform to create favourable conditions for businesses and taxpayers. It has also vigorously sped up information technology application, and increased inspections on and dialogues with taxpayers.

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(Source: VNA)