Domestic tax revenue drops in August

According to the Ministry of Finance, domestic tax revenue was at VND25.5 trillion in August, accounting for only 78 percent and a drop of VND7 trillion over the previous month.

Compared to the same period last year, domestic tax revenue fell by 10 percent as tax yield from some major accounts and receipts saw a sharp drop. For instance, corporate income tax declined by 28.3 percent as many businesses faced difficulties during the economic downturn; special consumption tax decreased by 11.4 percent as automobile consumption plunged by 22 percent year-on-year; and land use assessment dropped by 40 percent as real estate market remained muted.

Total tax revenue was estimated at VND45.02 trillion in August and accumulated tax collection for the first eight months of this year were VND447 trillion, accounting for 60.4 percent of the estimated target.

By Ng.Quang – Translated by Thuy Doan

Other news

Most view

Pig price goes up as traders snap up

Pig price goes up as traders snap up

A leader of the Department of Animal Health in the southern province of Dong Nai July 19 said price of pig in the province went up within three days as traders snapped up for selling in the North.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.