Tax Revenue Up 25% in First Nine Months of Year

The government collected $997.31 million in tax revenue in the first nine months of the year, a 25.6 percent increase over the same period last year, according to a statement released by the Finance Ministry’s general department of taxation on Tuesday.

The report did not provide a tax revenue figure for the first nine months of 2014 and Finance Ministry officials declined to provide the number.

“The general department of taxation will continue to implement strictly the reform policies of the government including collection of all types of tax, especially profit tax, value added tax [and] special tax on tobacco and alcohol,” the statement said.

It added that tax revenue from vehicle production grew by 172.8 percent while taxes from tobacco production were up by 127.9 percent and food production by 87.6 percent.

Tax revenue from the garment sector—which contributes a third of the country’s gross domestic product— increased by 17.5 percent.

A separate statement released by the Finance Ministry on Wednesday added that customs and excise revenue increased by 17.2 percent to $30.4 million in the first nine months of the year.

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