About to inspect the VAT refund for high-risk businesses

This is information announced by the General Department of Taxation at the quarterly meeting of the first quarter of 2022 that took place. As of March 14, the entire tax industry has carried out nearly 5,000 tax inspections and audits and examined more than 90,000 tax records. After the inspection and examination, the tax industry proposed to handle more than 4,000 billion dong of tax (including tax revenue increase and loss reduction of enterprises).

In the first quarter of 2022, the General Department of Taxation achieved VND 389,320 billion, equaling 33.1% of the ordinance estimate and 105.3% over the same period in 2021.

“The budget revenue in the first quarter of 2022 achieved good progress in the implementation of the estimate and increased over the same period thanks to the control of epidemics across the country, helping to restore production and business. The supportive policies of the Government have been working well, enterprises have accelerated their production and business activities. The number of newly established enterprises and returning to operation in the first quarter of 2022 increased by 36.7% over the same period last year,” said the General Department of Taxation.

Besides, the service sector in the first quarter of 2022 prospered when many service activities were active again. Contributions of some market service industries with a large proportion to the increase in total value added in the first quarter of this year are as follows: Financial, banking and insurance activities increased by 9.75% over the same period last year prior to; transportation, warehousing increased by 7.06%; wholesale and retail increased by 2.98%.

According to the General Department of Taxation, compared with the estimate of 16/19 revenues, the tax rate was quite good, with an increase of over 25%. In which, some large revenues such as state-owned enterprises are estimated at 27.5%; foreign-invested enterprises are estimated at 30%; the industry, commerce and non-state services are estimated at 34%; Personal income tax is estimated at 43.3%; Environmental protection tax is estimated at 25.9%; registration fee collection is estimated at 30.3%; fee collection is estimated at 27.3%; land use levy is estimated at 38%…

“Budget revenue in the first quarter of 2022 achieved relatively positive results. However, the units need to continue to carefully review and grasp each revenue source, detailed tax for each month, each area, and tax in order to closely forecast the situation, the revenue situation, and then advise the leaders of the General Department of Taxation plan to manage the budget accordingly”, emphasized General Director of Taxation Cao Anh Tuan.

From April 1, the environmental protection tax for gasoline, diesel, fuel oil and lubricants will be reduced by 50% and by 70% for kerosene products, which will reduce the budget revenue by over VND 20,000 billion.

According to Quynh Nga