HCMC: tax payment rise significantly from FDI sector

HCMC Tax Department. Photo: Nguyễn Huế

According to the statistic of HCMC Tax Department about collection result in each business area, revenue collection from FDI rose significantly by 16,121 billion vnd, achieved over 24% cost estimate in the year, increased nearly 30% compared with the same period in 2016. Meanwhile, revenue from the State sector reached 5,329 billion vnd, decreased 17.57%; revenue from non-state sector was 13,822 billion vnd, achieved over 24% current appropriation, increased by 6.35% compared with the same period in 2016.

Additionally, the statistics of the HCMC Taxation Department also showed that the tax collection of the FDI sector reached the highest increase in the economic sectors in the three major taxes. Specifically, the revenue from the excise tax on the FDI sector in the first quarter increased nearly 24% over the same period in 2016 (the central state sector increased over 9%, the non-state industry sector was 100.55%, the local state enterprise sector reduced more than 30%).

Furthermore, VAT from the FDI sector increased by 14.56% over the same period (non-state industrial and commercial enterprises increased by over 13%, state-owned enterprises and the state-owned enterprise sector decreased by 19.48% and 4.47% respectively); Corporate income tax in the FDI sector increased by 52% over the same period (non-state sector increased by 9.66%, central state sector and local state enterprises decreased by 33.27% and 18.73% respectively).