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Source from provincial Tax Department said that in 2023, the sector’s total State budget revenue was over VND 51.13 trillion, or 113% of the yearly estimate assigned by the Ministry of Finance, equal to 108% over the same period in 2022.

This result came from the sector’s efforts in collecting arising amounts from corporate income tax, value added tax, personal income tax  in the third and fourth quarters of 2023. In addition, it came from fees, charges from granting mineral exploitation rights... Particularly, land tax revenue saw a sharp increase. Non-agricultural land use tax increased by 186%. Land rental fees reached 1,088%. Land use fees obtained 169% while revenue from public land funds and yields was 153%. The cause of the increase came from a sudden increase in revenues from project land charges of enterprises, revenues from land use fees of real estate companies and transfer of land use rights and conversion of land use purposes.

Reported by Truc Huynh-Translated by Kim Tin