State budget revenue in HCM City rises 19.5%

Photo for illustration. (Source: thanhnien.vn)

Notably, in the first 5 months of the year, revenue related to real estate increased by 2.1 times, crude oil rose by 82.5% and product tax collection soared by 11.7% over the same period last year thanks to the economy’s postive signals.

The data shows that the total state budget balance in the 5 months is estimated at 209.8 trillion VND, reaching 54.3% of the yearly estimate and increasing by 19.5% year on year.

Specifically, domestic revenue was estimated at 141.919 trillion VND, 54.7% of the estimate, accounting for 67.6% of the total balance and increasing by 19.8% year on year. Crude oil revenue was estimated at 10.695 trillion VND, exceeding 1.9% of the year's estimate, accounting for 5.1% of the total balance and increasing by 82.5%. Revenue from import-export activities was estimated at 57.2 trillion VND, 49.1% of the estimate, accounting for 27.3% of the total balance and rising by 11.7%.

In domestic revenue, revenue from state-owned enterprises was estimated at 13.176 trillion VND; revenue from the non-state sector was estimated at 40.469 trillion VND; and revenue from the foreign-invested sector was estimated at VND 33.034 trillion.

In the 5 months, a number of unexpected revenues from land use fees and real estate transfer activities took place actively throughout the country in general and Ho Chi Minh City in particular, helping the revenues from land record strong growth over the same period last year.

In which, there was a deposit of VND 658 billion in the auction of 4 land lots in Thu Thiem New Urban Area, Thu Duc City; plus the sudden revenue from land use levy due to the one-time payment of land use levy by companies from the beginning of the year./.