4 months, revenue from lottery activities reached 18,489 billion VND

Ho Chi Minh City tax officials guide people in completing personal income tax settlement procedures - Photo: ANH HONG

Notably, lottery revenue reached about 49.2% of the estimate...

Authorized by the Prime Minister, Minister of Finance Ho Duc Phoc signed a report to submit to the National Assembly Standing Committee a report assessing the results of state budget implementation in 2022 and deploying the 2023 budget estimate.

Revenue from lottery activities reached 18,489 billion VND

Accordingly, the content of budget revenue and expenditure in the first 4 months of this year is reported in quite detail.

Accordingly, domestic revenue is estimated at 40.4%; revenue from crude oil is estimated at 52.2%; balanced revenue from import-export activities is estimated at 35.4% of the estimate.

Regarding domestic revenue, it is noteworthy that 8/12 domestic revenue items reached high levels, including personal income tax estimated at 42.4%; revenue from lottery activities reached about 49.2% of the estimate...

Thus, in the first 4 months of the year, personal income tax revenue reached more than 65,572 billion VND, while revenue from lottery activities reached 18,489 billion VND...

On the contrary, revenue from housing and land decreased sharply compared to the same period last year, reaching only nearly 21% of the estimate, in the context of a sluggish real estate market.

Monthly revenue tends to decrease

Assessing the progress of budget collection since the beginning of the year, the Ministry of Finance said that monthly revenue has tended to decrease. In fact, compared to the estimate, revenue in January reached 14.7%; in February reached 7.7%; in March reached 8.9%; and the estimated implementation in April reached only 8.6%.

Regarding the balance of revenue from import-export activities, the Government's report clearly stated that it only reached 85,800 billion VND, down nearly 19% compared to the same period last year.

Import and export activities continued to decline, with the cumulative import and export turnover of taxable goods as of April 15 reaching about 35.4 billion USD, down more than 17% over the same period in 2022.

In particular, the groups of goods that contribute the largest revenue to the budget all decreased sharply compared to the same period, such as imported raw materials, machinery, equipment, spare parts for production (coal, chemicals and chemical products, plastics, iron and steel, textile raw materials, electronic components, automobile components, etc.); imported gasoline;...

Dr. Nguyen Ngoc Tu - senior tax expert - said that in the context of many economic difficulties, businesses had broken orders, hundreds of thousands of workers lost their jobs in the first quarter of the year, but personal income tax still increased, showing that the tax burden on taxpayers is very large.

To share the difficulties and reduce the pressure on taxpayers, the Ministry of Finance needs to urgently report to the Government to submit to the National Assembly to soon amend the inappropriate regulations in the Personal Income Tax Law. For example, the average income level of 1 million VND/month or less is considered a dependent, which is too outdated, causing disadvantages for taxpayers.

Furthermore, according to Mr. Tu, the regulation that investment and trading in securities and real estate that make losses must also pay personal income tax is contrary to the nature of this tax, causing disadvantages for taxpayers.

According to Tuoi Tre