Tax revenue up 4.4% year-on-year in January

Accordingly, revenue from crude oil hit 5.3 trillion VND, equal to 12.6% of the estimate and 167.7% of the figure in the same period last year. Domestic revenue was estimated at 160.4 trillion VND, equivalent to 12% of the ordinance estimate and 103.1% of the figure a year ago.

Revenue from State-owned enterprises accounted for 13.2% while that from foreign-invested sector 14.1%, individual income tax 8.1%, fees and bills 10.2%, land use tax 6%, and environment protection tax 3.1%.

The State, non-State and foreign-invested sectors recorded respective growth of 15.3%, 21.1% and 18.3% in revenues to the State budget.

This year, the tax sector was assigned to collect over 1.37 quadrillion VND in taxes, 42 trillion VND of which will be from crude oil and the remainder from domestic collection.