Personal income tax revenue from salaries, wages, securities, real estate… decreased

 Tax revenue in Ho Chi Minh City has continuously decreased in recent months, especially in September, the decrease was quite deep. To complete the collection task in 2021, the tax agency still has to collect at least VND 60,000 billion in the fourth quarter of 2021, equivalent to VND 20,000 billion each month.

Tax revenue each month at the end of the year in Ho Chi Minh City is about VND 20,000 billion to reach the 2021 budget estimate. Ngoc Thang

According to the Tax Department of Ho Chi Minh City, the total domestic revenue in the city in the past 9 months reached VND 188,422 billion, reaching 73.35% of the estimate. In which, domestic revenue excluding oil is 177,726 billion VND, reaching 71.56% of the estimate. In order to complete the collection task in 2021, in the fourth quarter of 2021, the Tax Department of Ho Chi Minh City also has to collect taxes and fees of at least 60,000 billion VND, so each month at the end of the year, the tax authorities in the area must collect 20,000 billion VND respectively. copper.

Total budget revenue in the first 5 months of the year always maintains a higher growth rate next month than the previous month, the growth rate of revenue from the economic sector, revenue in the first 5 months of 2021 will reach the highest growth rate in the period 2017 - 2021. , up 29%. However, in June and July, budget revenue slowed down and decreased slightly due to the impact of the Covid-19 epidemic. By August, the revenue decreased rapidly and from September it decreased deeply. Total revenue in September was only 9,778 billion VND, the lowest level in recent years. With such situation, the actual revenue has fallen short of the estimated revenue in the third quarter of 2021 at 8,220 billion dong.

The Director of Ho Chi Minh City Tax Department said that a number of revenues that were greatly affected by the Covid-19 epidemic, such as personal income tax from July until now, have continuously had negative growth rates, specifically taxes related to wages and salaries. Public, stock, and real estate all fell. Land use levy collection in the first 9 months of the year only reached 43.18% of the estimate and decreased by 8.73% over the same period; revenue from fees and charges in the first 9 months of 2021 decreased by 14.22% over the same period, of which September revenue from fees and charges decreased by 65.22% over the same period.

Notably, the non-state-owned industry and trade sector accounted for the largest proportion of revenue (accounting for 42.7%) and had the highest increase in total corporate income tax (CIT) among the four economic sectors. However, because this area has a lot of small and medium enterprises, so under the pressure of social distancing, this group is the most vulnerable and the fact is reflected in the revenue of this area in September decreased by 76, 2% over the same period (if excluding extensions, decrease by 70.7% over the same period).

In addition, the city's budget revenue has been greatly affected by policies to support businesses and people affected by the Covid-19 epidemic. Specifically, implementing the policy of 30% reduction of CIT will reduce the estimated revenue of VND 1,200 billion; the policy of reducing value-added tax is estimated at 1,400 billion dong; the tax exemption policy for business households and individuals will reduce the revenue by 1,500 billion dong; land rent exemption and reduction policy of 30% according to Decision No. 27/2021/QD-TTg dated September 25, 2021, estimated revenue reduction in 2021 is VND 776 billion.

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