State budget revenue from taxes in October 2024 is estimated at VND158.8 trillion, up 10.7 percent over the forecast and reaching nearly 99 percent of the amount collected in October 2023.
Over the ten-month period, cumulative State budget revenue managed by the tax authorities is estimated at more than VND1.4 quadrillion, achieving nearly 95 percent of the forecast and surpassing the same period last year by 16 percent. This amount includes approximately VND49 trillion from crude oil and nearly VND1.4 quadrillion from domestic revenue.
Seventeen out of 20 tax categories performed well compared to the forecast (over 88 percent), with significant contributions from non-State economic sectors, personal income tax, fees and charges, land and water surface rental, and lottery operations.
Nationwide, 38 out of 63 localities achieved significant progress in meeting their revenue targets (over 88 percent). Furthermore, 55 localities saw year-on-year revenue growth, while eight saw declines compared to the same period in 2023.
According to the General Department of Taxation, to further support citizens and businesses and to accelerate economic recovery in 2024, tax authorities have continued implementing effective policies for tax exemptions, reductions, and deferrals for businesses and individuals. The total amount of tax and land rental exemptions, reductions, and deferrals in the first ten months of 2024 is estimated at nearly VND134 trillion.
