Q1 State budget revenue up 5.3%

According to the General Department of Taxation, thanks to improvements in services and the recovery of business, total State budget revenue in the first quarter of 2022 reached nearly VND390 trillion ($17.18 billion), up 5.3 per cent over the same period of 2021. The budget will forego revenue of more than VND20 trillion ($881.9 million) due to reductions in environmental protection taxes on petrol and oil from April 1. The tax sector will therefore need to make every effort to complete its budget tasks in the second quarter.