HCM City’s revenues last year grew by 8.6 per cent to VNĐ378.543 trillion (US$16.3 billion), according to the Department of Finance.
Total State budget collection from the beginning of the year till November 15 was estimated at VNĐ1.16 quadrillion (US$49.57 billion), a year-on-year increase of 16.1 per cent.
Việt Nam is confronting challenges in the process of restructuring the public financial sector, Deputy Minister of Finance Đỗ Hoàng Anh Tuấn said during a forum on Thursday.
Toital State budget collection in the eight months sp far this year has been about VNĐ762.8 trillion (US$33.4 billion), an increase of 12.8 per cent over the same period last year.
State budget total collection in the first seven months of this year was estimated at VNĐ666.68 trillion (US$29.36 billion), an increase of 11.6 per cent over the same period last year.
State Budget revenues falling short of the half-way mark in the first six months of the year is a normal feature of the domestic economy and does not preclude meeting the annual target, Finance Minister Đinh Tiến Dũng tells Việt Nam News reporter Nguyễn Linh Anh.
Budget revenues were estimated at VNĐ280.9 trillion (US$12.4 billion) in the first quarter of this year, up 15.2 per cent compared to the same period in 2016 and meeting 23.2 per cent of the annual estimate, the Ministry of Finance (MoF) said yesterday.
The Ministry of Finance has proposed, in a draft law, to almost triple the environmental protection tax on oil and gas consumption from the current VNĐ3,000 (US$0.13) to VNĐ8,000 per litre.
Irrecoverable tax debts were estimated to total more than VNĐ15 trillion (US$669.6 million) as of October 31, rising by 1.4 per cent over the end of last year, the General Department of Taxation said.
Legislators approved a resolution on the five-year financial plan with 86.64 percent of “yes” votes during the ongoing second meeting of the 14th National Assembly on November 9.