HCM City’s budget collection rises 23.3% in first half

Tuesday, 26/07/2022 10:00
The Ho Chi Minh City Department of Taxation collected 173.439 trillion VND for the state budget in the first half of the year, 64.2% of the year’s estimate and a year-on-year increase of 23.3% thanks to the synchronous implementation of tax collection management solutions and support for people and businesses.

The figures were released in a recent seminar held by the Department of Taxation to review tax collection in the first half of the year and carry out tasks for the second half.

 Photo for illustration. (Source: doanhnhansaigon.vn)

Of the figures, revenue from production and business activities was 96.684 trillion VND, 60.6% of the estimate and an increase of 11.1%.

Mr. Thai Minh Giao, Deputy Director of the city Department of Taxation, said that the state budget revenue in the first 6 months enjoyed good progress compared to the estimate, as well as compared to the same period last year. In which, some revenues showed the recovery and development of businesses in the city. This is the highest growth rate of tax revenue in recent years.

Despite strong growth in the first half, domestic revenue is not really sustainable. The strong growth mainly focused on finite revenues and depended on national resources such as revenue from crude oil increasing by 96%; land rent by 132.5%, and land use fees by 94.8%, compared to the same period last year.

From now until the end of 2022, the Department will continue to synchronously and effectively implement measures to manage revenue, strengthen coordination with departments, branches and localities in state management, and prevent loss of revenue./.