HCM City: Domestic collection achieves VND 207,053 billion

VCN – According to HCM City Taxation Department, by the end of 11/2017, the state revenue collected at the unit achieved VND 207,053 billion, reached 86.68% of current appropriation, and increased by 14.39% compared to the same period in 2016.
tin nhap 20171218082624
Enterprises implement procedures at HCM City Tax Department. Photo: Nguyễn Huế

In particular, domestic collection, excluding oil, is VND 192,068 billion, achieved 84.81% of current appropriation, and increasing by 14.32%. Collection from crude oil achieved VND 14,985 billion, reached 121% of current appropriation, and increased by 17.91% compared to the same period in 2016.

HCM City Tax Department said that, in 2017, the budget revenue of the unit has many advantages as the socioeconomic situation in the first 11 months of the year continues to maintain a stable level. Thus it facilitates to the production and business activities of enterprises. According to statistics, the number of newly established enterprises in the period continued to increase in both quantity and registered capital.

Besides that, at the beginning of the year, the People's Committee of HCM City has led and directed the departments, agencies and localities to coordinate with Tax authorities in implementing tax administration to boost tax collection, avoid tax losses and recover tax debts in order to ensure the completion of fiscal tasks in 2017. On the other hand, the Department of Taxation has actively analyzed the advantages and disadvantages impacting upon revenue sources in 2017, so that they can focus on directing the budget collection in the last months of the year and ensure the fulfillment of budget collection tasks.

According to the report of the HCM City Tax Department, by the end of November 2017, the revenue of the Tax Branches in the area has completed the assigned appropriation with the amount of VND 61,645 billion, reaching 100.08% of current appropriation, which increased by 8.67% over the same period in 2016. There are 14 District Tax Branches that completed 100% current appropriation. They are: district Tax Departments: 2, 6, 7, 8 9, 12, Tan Binh, Tan Phu, Go Vap, Thu Duc, Binh Tan, Binh Chanh, Cu Chi and Can Gio districts.

By Nguyễn Huế/Thanh Thuy

Related News

6 outstanding events of Vietnam Customs in 2024

6 outstanding events of Vietnam Customs in 2024

VCN - The General Department of Customs has just announced outstanding events in 2024, such as: successfully organizing the 33rd Meeting of the ASEAN Customs Directors-General; successfully completing the budget collection task; trade facilitation with a record trade turnover of over US$786 billion.
HCMC Tax Department focuses on resolving land dossiers as soon as possible

HCMC Tax Department focuses on resolving land dossiers as soon as possible

VCN - Immediately after the HCMC People's Committee issued a document allowing the use of the current land price list to calculate taxes while waiting for the issuance of the new land price list, the HCMC Tax Department directed tax branches to prioritize and focus resources to resolve land dossiers received from August 1st as soon as possible.
Strictly control sources of smuggled goods transporting into HCM City

Strictly control sources of smuggled goods transporting into HCM City

VCN- HCM City’s anti-smuggling forces have taken measures to control and prevent transportation of smuggled and counterfeit goods into HCM City market.
HCM City and Hai Phong Customs Departments share experience and cooperate in task performance

HCM City and Hai Phong Customs Departments share experience and cooperate in task performance

VCN – At a working session between the two departments on August 5, Directors of HCM City and Hai Phong Customs Departments agreed on contents related to cooperation and sharing experience to improve effectiveness in task performance.

Latest News

SBV makes significant net withdrawal to stabilise exchange rate

SBV makes significant net withdrawal to stabilise exchange rate

Analysis shows it’s an intervention to manage system liquidity.
Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

The forecasts were presented by experts at the scientific conference titled ’Market and Price Developments in Việt Nam in 2024 and Forecasts for 2025’ organised by the Institute of Economics and Finance and the Price Management Department on January 9 in Hà Nội.
Banking industry to focus on bad debt handling targets in 2025

Banking industry to focus on bad debt handling targets in 2025

The non-performing loan (NPL) ratio of the banking system (excluding NPLs of weak commercial banks) needs to be controlled at below 3 per cent by the end of 2025.
State Bank sets higher credit growth target for 2025

State Bank sets higher credit growth target for 2025

The credit growth target for the banking system in 2025 has been set higher than in 2024.

More News

Outlook for lending rates in 2025?

Outlook for lending rates in 2025?

VCN - The economy is forecast to continue to recover strongly from the end of 2024 to 2025, helping credit demand increase rapidly, but lending interest rates may also be under increasing pressure.
Tax policies drive strong economic recovery and growth

Tax policies drive strong economic recovery and growth

VCN - Far more than just a revenue-collection agency, the Tax Department has played a pivotal role in creating a transparent, equitable, and business-friendly environment. These efforts have not only contributed to macroeconomic stability but also fueled recovery and development for businesses, individuals, and households.
E-commerce tax collection estimated at VND 116 Trillion

E-commerce tax collection estimated at VND 116 Trillion

VCN - According to data from the General Department of Taxation, taxes declared and paid directly by foreign suppliers via the electronic portal in 2024 amounted to VND 8.687 trillion, equivalent to 126% of the previous year’s total and a 74% increase compared to current appropriation.
Big 4 banks estimate positive business results in 2024

Big 4 banks estimate positive business results in 2024

One of the country’s biggest banks expects results to be the best for four years.
Flexible and proactive when exchange rates still fluctuate in 2025

Flexible and proactive when exchange rates still fluctuate in 2025

VCN - In the last days of 2024, as many forecasts, the US Federal Reserve (Fed) continued to cut interest rates, pushing the USD index up, creating pressure on domestic exchange rates. Therefore, domestic exchange rate management policies need to continue to be flexible and appropriate, thereby supporting businesses in import and export.
Issuing government bonds has met the budget capital at reasonable costs

Issuing government bonds has met the budget capital at reasonable costs

VCN - According to the State Treasury's report, capital mobilization through the issuance of government bonds has ensured mobilization to meet the capital needs of the state budget at reasonable costs.
Bank stocks drive market gains as VN-Index closes final Friday of 2024 on a positive note

Bank stocks drive market gains as VN-Index closes final Friday of 2024 on a positive note

Việt Nam’s stock market ended the final Friday of 2024 on a positive note, with banking stocks leading the rally and VN-Index successfully surpassing the 1,275-point mark.
Banks still "struggling" to find tools for handling bad debt

Banks still "struggling" to find tools for handling bad debt

VCN - According to financial experts, the rising trend in bad debt continues to pose significant challenges to debt resolution and recovery efforts at credit institutions (CIs).
Forecast upbeat for banking industry in 2025

Forecast upbeat for banking industry in 2025

In a recent report, ACB Securities Companies analysts said that the net interest margin (NIM) of banks in 2025 will increase by five basis points over 2024.
Read More

Your care

Latest Most read
SBV makes significant net withdrawal to stabilise exchange rate

SBV makes significant net withdrawal to stabilise exchange rate

Analysis shows it’s an intervention to manage system liquidity.
Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

Việt Nam could maintain inflation between 3.5–4.5% in 2025: experts

The forecasts were presented by experts at the scientific conference titled ’Market and Price Developments in Việt Nam in 2024 and Forecasts for 2025’ organised by the Institute of Economics and Finance and the Price Management Department on January 9 in Hà Nội.
Banking industry to focus on bad debt handling targets in 2025

Banking industry to focus on bad debt handling targets in 2025

The non-performing loan (NPL) ratio of the banking system (excluding NPLs of weak commercial banks) needs to be controlled at below 3 per cent by the end of 2025.
State Bank sets higher credit growth target for 2025

State Bank sets higher credit growth target for 2025

The credit growth target for the banking system in 2025 has been set higher than in 2024.
Outlook for lending rates in 2025?

Outlook for lending rates in 2025?

VCN - According to the SBV, in managing interest rates in 2024, the SBV will continue to maintain the operating interest rates amid the global world interest rates remaining at high levels.
Mobile Version