Foreign Suppliers Pay 4.039 Trillion VND in Taxes, a Surge of 18.5%

In the first half of the year, 26 new non-resident companies registered, declared, and paid taxes in Vietnam through the electronic portal for non-resident companies. As of now, a total of 102 non-resident companies from the US, the Netherlands, South Korea, Singapore, Hong Kong (China), Ireland, Switzerland, Australia, the UK, and Switzerland have registered, filed tax returns, and paid taxes through this portal.

So far, 383 e-commerce trading platforms have provided information on the e-commerce information portal, an increase of 22 platforms compared to the cumulative number at the end of 2023.

The tax sector continues to digitize and digitalize tax administration, promoting the provision of electronic tax services. The electronic tax declaration system has been implemented in all 63 provinces and cities and 100% of the subordinate tax departments. As of the end of June 2024, 930,050 enterprises out of a total of 930,559 operating enterprises, or 99.95%, are using the electronic tax declaration service. From January 1, 2024, to June 14, 2024, 9,312,980 electronic tax declaration dossiers were received.

“We have connected with 57 commercial banks and deployed electronic tax payment services in 63 Tax Departments. As of the end of June 2024, the number of enterprises that have registered to use this service with the tax authority is 922,761 out of a total of 930,559 operating enterprises, achieving a rate of 99.16%,” said a representative of the General Department of Taxation.

Regarding the deployment of the eTax Mobile application for mobile devices, according to the General Department of Taxation, up to now, the number of downloads and installations and use of the eTax Mobile application is 1,153,462 turns. The number of transactions through commercial banks was 1,800,172 with a total successful payment amount of VND 4,229 billion.

Regarding the state budget collection and expenditure situation, according to the General Department of Taxation, the estimate of state budget revenue in 2024 assigned by the National Assembly, the Government, and the Ministry of Finance to the tax sector is VND 1,486,413 billion. The result of budget collection in the first 6 months of 2024 managed by the tax industry is estimated at VND 865,350 billion, equal to 58.2% compared to the estimate, exceeding 15.3% over the same period.

In which, the revenue from crude oil is estimated at VND 29,692 billion, equal to 64.5% compared to the estimate and 95.2% over the same period; domestic revenue is estimated at VND 835,658 billion, equal to 58% compared to the estimate and increased by 16.2% over the same period; revenue from domestic taxes and fees is estimated at VND 655,303 billion, equal to 60.4% compared to the estimate and increased by 12.1% over the same period.

There are 12/21 tax and fee items that reach over 55% of the estimate, including corporate income tax estimated at 68.9%; personal income tax estimated at 61.9%; land and water surface rental estimated at 79.3%; other budget revenue estimated at 63.4%; and mineral resource exploitation fee estimated at 77.8%…

There are 32/63 localities with revenue reaching over 55% of the estimate, including Hai Phong, Hoa Binh, Ha Tinh, Thanh Hoa, Nghe An, Da Nang, Hai Duong, Long An, Tien Giang, Hung Yen, Ninh Thuan, Nam Dinh, An Giang, Vinh Long, Hanoi, Bac Giang, Soc Trang, Phu Tho, Bac Lieu, Ben Tre, Dak Lak, Gia Lai, Lang Son, Ba Ria – Vung Tau, Ca Mau, Bac Ninh, Kien Giang, Dong Nai, Tay Ninh, Binh Duong, Cao Bang and Quang Tri. There are 13/21 revenue items and 54/63 localities with revenue growth over the same period last year.