Viet Reader.


Premier Newspaper for Vietnamese Worldwide

Business tax debts up 3% in Jan-Nov

Business tax debts up 3% in Jan-Nov

HCMC – Total tax debt owed by businesses had amounted to an estimated VND126.64 trillion in the year to November 30, up 3% year-on-year, according to the General Department of Taxation.

This debt was 10.1% higher than late last year. The department attributed the strong rise to the Covid-19 pandemic, natural disasters, global economic uncertainties, and the shortage of input materials.

In January-November, the tax sector had collected an estimated tax debt amount of VND29.4 trillion, achieving 70% of the 2022 target.

According to statistics of the Ministry of Finance, the State budget revenue in January-November reached VND1,638.9 trillion, up 16.1% over the estimate.

Though Vietnam’s export value achieved positive results early this year, global inflation, the Russia-Ukraine military conflict and the energy crisis are piling pressure on the State budget collection in the rest of the year and early 2023.

About author
You should write because you love the shape of stories and sentences and the creation of different words on a page.
View all posts
More on this story