Even though the COVID-19 pandemic has been put under control in Vietnam, its negative impacts were still felt in many fields, including budget collection in Ho Chi Minh City.
HCM City (VNA) – Even though the COVID-19 pandemic has beenput under control in Vietnam, itsnegative impacts were still felt in many fields, including budget collection inHo Chi Minh City.
Total budget collection in the city in the🦂 first five months ofthis year stood at 139.37 trillion ✨VND (5.97 billion USD), equivalent to 34.3percent of the estimate and down 16 percent from the same period last year.
Domestic revenues dropped 13.6 percent to 92.3 trillion VND(33.1 percent of the estimate), and revenues from crude oil decreased by 38.9percent year on year to over 5.95 trillion VND (48.8 percent of estimate).Revenues from import-export activities went down 16.6 percent to 41.1 trillionVND (35.7 percent of estimates).
Contributions by the State sector accounted for 9.6 percent ofdomestic revenues, down 13.5 percent. The non-State sector contributed 23.5trillion VND to the State budget, down 24.5 percent, and the FDI sector 25.85trillion VND, down 5.4 percent.
Meanwhile, the city’s spending surged by 11.7 percent to 22.6trillion VND in the period, as the city implemented policies to supportbusinesses and the population overcome the difficulties caused by the pandemic.
The city’s tax authority reported that around 255,000 firms or97.35 percent of the total have benefit𝔉ed from delayed payment of tax and landrent. In addition, 43,000 business house🀅holds and small traders have also beenallowed to postpone tax payment./.
The General Department of Customs hopes to collect 338 trillion VND (14.6 billion USD) for the State budget this year, a year-on-year increase of 12.5 percent.
Total State budget collection was estimated at 214.2 trillion VND (9.31 billion USD) in the first two months of this year, or 14.2 percent of the yearly estimate, reported the General Statistics Office on February 29.
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Illustrative image (Photo: VNA) 
