Tax revenue in 2021 exceeds estimate by 12.47 percent

The information was released at a virtual meeting held by the General Department of Taxation on December 24, to review tax collection in 2021 and set out plans for 2022.

The General Department of Taxation said that 60 out of 63 provincial tax departments have exceeded the tax estimate set for 2021.

General Director of Taxation Cao Anh Tuan said that the taxation sector has completed its tasks in 2021, regarding tax collection, institution and policy building, tax system reform, improvements to the capacities of tax agencies, tax management and others.

The taxation sector is assigned to collect over 1.17 quadrillion VND in 2022, thus the sector should make more efforts to fulfil its task, as 2022 is forecast to be a difficult year due to the COVID-19 pandemic, according to Minister of Finance Ho Duc Phoc.

“The stimulus package on tax exemption and reduction in 2022, will be much larger than in 2021, which is a challenge for the financial sector in general and the tax sector in particular,” said the Finance Minister.

The General Department of Taxation set out a number of solutions to achieve the set target in 2022 with the focus on enhancing the tax debt management and collection, renewing tax inspection and examinations, increasing the application of information technology, promoting electronic tax inspection, and others.