Tuesday, November 21 2017

VietNamNews

Hà Nội tax revenue up 16 per cent

Update: January, 18/2017 - 17:00
People pay tax at a branch of Hà Nội Tax Department. Hà Nội collected over VNĐ160.5 trillion (US$7.1 billion) in taxes this year, 4 percent higher than its annual target and 16 per cent higher compared to 2015. — VNA/VNS Photo Hoàng Hùng
Viet Nam News

HÀ NỘI — Hà Nội collected over VNĐ160.5 trillion (US$7.1 billion) in taxes this year, 4 per cent higher than its annual target and 16 per cent higher compared with 2015.

This was reported by the municipal Tax Department. 

Of the estimate, domestic tax revenue (excluding budget collections from crude oil) reached VNĐ158.7 trillion, up 18 per cent year-on-year and increased by 3 per cent in comparison with the yearly target, Nguyễn Thế Mạnh, director of the Hà Nội Taxation Department, said during a conference held by the department in Hà Nội on Tuesday.

The department conducted inspections on over 17,900 companies located in the capital city, Mạnh said, adding that the inspections aim to reduce unpaid tax and force businesses to comply with tax laws, thus avoiding losses for the State budget.

A focus on debt collection by Hà Nội’s Tax Department this year has resulted in the recovery of VNĐ12.7 trillion in arrears, up 30 per cent year-on-year, Mạnh said, adding that the city’s tax department has become the country’s leading tax unit in debt collection.

Mạnh said the application of information technology was one of the key reforms needed in the administration of taxation.

Time and costs spent on completing procedures in taxation had already been significantly reduced thanks to a series of measures promoting administrative reform, including the application of IT in tax management, he said.

As many as 98 per cent of businesses in the city used online tax filing procedures and 93 per cent registered for e-tax payments as of the end of 2016, Mạnh said. — VNS

 

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