September 23, 2017 20:04

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Tax revenues increased highly thanks to FDI enterprises

10:37 | 23/08/2017

VCN- Revenues of Ho Chi Minh city in the first 7 months of 2017 highly increased, in which mostly thanks to FDI enterprises.

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Many foreign investors survey of investment in Vietnam. Photo: T.H

According to Ho Chi Minh city Department, from the beginning of the year to July 31st, 2017, the Department collected and contributed 139,140 billion VND to State budget, reaching 58.25% of the estimate, up 16.87% compared to the same period of 2016.

It is shown that Tax revenues highly increased due to tax payment from FDI enterprises. Specifically, revenue from Corporate income tax was the highest rate among 3 major taxes of the economic sector, an increase of 17.37% compared to the same period last year. Revenue from FDI enterprises increased 23.36 %, non-state sector increased 17.42%, local State owned enterprise sector increased 2.38%, and central State owned enterprise sector decreased 0.19% compared to the same period of 2016.

Revenue from Special consumption tax increased 12.87%, revenue from FDI enterprise sector was the highest rate among 4 economic sectors, an increase of 24.11%, non-state sector increased 10.22%, Central State owned enterprise sector increased 4.78% compared to the same period and local State owned enterprise sector decreased 22.4% compared to the same period of 2016.

Although revenue from the Value added tax was lower than above taxes, it increased 8.72% compared to the same period. Revenue from FDI enterprise sector was still the highest rate in 4 economic sectors, an increase of 13.3 % compared to the same period of 2016, meanwhile, Central State owned enterprise and local State owned enterprise decreased 13,55% and 4,41% respectively.

As surveyed by the reporter, revenue from some FDI enterprises highly increased. For example, for Corporate income tax, Unilever Vietnam Co., Ltd paid 507 billion VND, Shinhan Bank Vietnam paid 235 billion VND.

Special consumption tax revenue from some enterprises highly increased compared to the same period of 2016 such as Vina-Bat Joint Stock Company paid 1,033 billion VND, Mercedes-Benz Vietnam Co., Ltd paid 1,833 billion VND (up 53.98%), Heineken Vietnam Brewery Limited Company (Heineken Vietnam Brewery) paid 4,360 billion VND (up 15.37%).

tax revenues increased highly thanks to fdi enterprises Earning nearly $US 50 billion, FDI enterprises are leading in exports

VCN- $US 49.398 billion is the total value of export turnover of foreign direct investment (FDI) enterprises, ...

Value added tax revenue from FDI enterprises highly increased compared to the same period of 2016 such as Unilever Vietnam Co., Ltd paid 278 billion VND (up 25.72%), Cuu Long Joint Operating Company paid 587 billion VND (up 83.35%), Phu My Hung Development Co., Ltd paid 240 billion VND (up 8.69%), Vina-Bat Join Stock Company paid 126 billion VND (up 84.79%), Heineken Vietnam Brewery paid 1,087 billion VND (up 8.97%), Mercedes - Benz Vietnam Co., Ltd paid 196 billion VND (up 25.01%).

Besides, the Ho Chi Minh City Customs Department said that some revenues increased compared to the same period of 2016 such as revenue from Personal income tax increased 20.41%, land and water surface rental increased 12.69%, land use right assignment increased 42.23%, registration fee increased 13.04%, profit after tax increased 17.72% and fees and charges increased 81.94%.

By Le Thu/Ngoc Loan