The tax sector has set a target of bringing in total tax revenue of VND1.373 quadrillion ($57.6 billion) in 2023, according to the General Department of Taxation.

Of which, domestic revenue is estimated at VND1.33 quadrillion ($55.8 billion) and revenue from crude oil at VND42 trillion ($1.76 billion).

In order to reach the target, the tax sector will speed up examinations and supervision over tax declarations and payments by taxpayers from the beginning of the year.

Businesses benefiting from tax reduction and exemption policies will also be examined to prevent any abuse of tax policies.

Those violating tax regulations will be strictly punished.

Total tax revenue in 2022 reached VND1.46 quadrillion ($61.3 billion), a year-on-year increase of 8.5 per cent and 24.3 per cent higher than the estimate.