HCMC – State budget revenue in January 2023 totaled VND165.7 trillion, meeting 12.1% of the year’s estimate and reaching 4.4% higher than the same period last year, according to the General Department of Taxation under the Ministry of Finance.

Of the total, budget revenue from crude oil amounted to VND5.3 trillion, reaching 167.7% over the same period last year.

Revenues from state-owned enterprises were estimated to rise by around 15.3%, while those from FDI enterprises increased by some 18.3% year-on-year.

The tax authority carried out some 795 inspections, 59.6% more than in the same period in 2022, and checked nearly 1,200 tax returns at the tax offices.

The total amount of money gained from the inspections and examinations totaled some VND1.2 trillion, with some VND692 billion submitted to the State budget.

The full-year target of the state budget revenue has been set at over VND1.37 quadrillion, with VND42 trillion from crude oil and VND1.33 quadrillion from domestic revenue.

The General Department of Taxation will continue to improve tax administration procedures, apply e-billing with authentic tax codes, and track foreign suppliers on digital platforms.

Moreover, this department will support taxpayers and enterprises to stabilize production activities, develop a plan to prevent revenue losses, do business on digital platforms and transfer their capital.