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Vietnam State Budget Strained by Virus Assistance Measures

Sept. 17, 2021, 5:56 AM

Vietnam’s state budget is in a “very difficult” situation due to tax breaks, declining tax revenue and reductions in rent of government land amid the outbreak, finance ministry reports on its website, citing Minister Ho Duc Phoc.

  • Tax and rent reductions will shrink government revenue by about 21.3 trillion dong, bringing the total 2021 state revenue loss to 140 trillion dong
  • “With the social distancing orders in 23 provinces and cities, businesses are also facing extreme difficulties and tax revenue is currently reduced by nearly 50% and will continue to drop in the future,” Phoc says in the ministry posting ...

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