The General Department of Taxation has collected over 19.4 trillion VND (835 million USD) in tax debts as of July 31, up 2.4 percent from the same time last year.

The General Department of Taxation has collected over
19.4 trillion VND (835 million USD) in tax debts as of July 31.
(Photo: VNA) 

Total tax arrears fell 5.7 percent year-on-year, with tax debts exceeding the 90-day payment window accounting for 53.1 percent of the total debt, or 16.9 percent lower than the same period in 2018.

 Meanwhile, uncollectible tax arrears made up of 46.9 percent, a year-on-year surge of 11.4 percent. 

 According to the department, tax authorities nationwide collected 725.74 trillion VND to the state budget during January-July, accounting for 62.1 percent of the estimate. 

 In the seven-month period, the tax sector rounded up additional 6.7 trillion VND through inspections. 

 The tax authorities have also kept a close watch on and updated enterprises’ business situation so as to better tax management. 

 More than 79,500 new companies entered the market in the period, over 73,700 firms halted or stopped operations, and nearly 13,370 businesses restored production.

 To date, there are 734,840 operating companies, increasing 5.34 percent from the end of 2018.