Although tax revenues from crude oil declined following plunging world prices, domestic tax collections rose in the first four months of 2015, the General Department of Taxation's report showed.
Although tax revenues from crude oil declined following plungingworld prices, domestic tax collections rose in the first four months of2015, the General Department of Taxation's report showed.
Duringthe period, domestic tax collections were estimated to total 269.7trillion VND (12.49 billion USD), representing an increase of 10.2percent over the same period last year.
However,taxes from crude oil dropped by nearly 33 percent over the same periodand was equivalent to only 27.2 percent of the target for the full year.
The report said that State revenues from crude oil fell below expectations.
In April alone, State revenues from crude oil only reached 56 percent from the same month last year.
The tax sector planned to collect 731.6 trillion VND (33.87 billionUSD) this year, 93 trillion VND (4.3 billion USD) of which would comefrom crude oil.
The report also revealed that 55 outof 63 provinces and cities in the country reported rises in taxrevenues in the period.
According to Le Xuan Duong,Deputy Director of HCM City Department of Taxation, online tax filingsand electronic tax payments helped boost tax collection this year.
He added that tax departments were also implementing othermeasures to simplify tax procedures and reduce tax filing times forcompanies. Meanwhile, Luu Thanh Thao from the accounting department ofSai Gon Beer-Alcohol-Beverage Joint Stock Corporation said that taxsimplification helped firms to reduce tax filing times, but moreimprovements, especially the upgrading of online tax systems, were stillneeded.-VNA
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