Tax collection hits over VND200 trillion in southern hub

The Ho Chi Minh city state budget collection reached an estimated VND200.9 trillion in the first nine months this year, 75.59% of the estimate or a year-on-year rise of 5.49%, reported the municipal People’s Committee.

Photo for illustration. (Source: vneconomy.vn)

Of this, domestic collection was estimated at VND113.5 trillion, 78.97% of the estimate or up 12.5% over a year earlier. Revenue from crude oil was over VND17.8 trillion, 55.8% of the estimate or down 25.9% while collection from export and import activities posted VND69.5 trillion, 77,2% of the estimate or a year-on-year increase of 6.13%.

According to the report, local budget spending in the nine months was estimated at VND30.6 trillion, 56.05% of the estimate or down 2.45% in comparison with the same period last year. Of this, expenditure for investment and development posted VND10.9 trillion, 51.3% of the estimate or down 17.7% year on year.

The municipal People’s Committee asked branches and relevant agencies to follow the result of state budget collection in the city and anticipate unscheduled spending to introduce timely solutions for management of budget revenue and expenditure./.

( Compiled by VNF )