VCN- Ho Chi Minh City Tax Department revenue in the first 10 months of 2019 has reached more than 80 percent of the target.
|HCM City Customs highly concentrated on revenue collection in the last quarter of 2019|
|Ho Chi Minh City: Series of domestic revenues increased|
|Production and business have a positive impact on seven-month budget collection|
|Revenue from the Corporate Income Tax increased by more than 10% compared to 2018.|
According to Ho Chi Minh City Tax Department, the total domestic revenue in October reached VND 34,770 billion. Accumulated earnings in the first ten months was VND234,125 billion, reaching 80.64 percent of the estimate, up 6.58 percent compared to 2018.
The domestic revenue excluding revenue from oil was VND215,569 billion, reaching 79.16 percent of the estimate, up 7.84 percent compared to 2018. Revenue from crude oil was VND18,556 billion, reaching 103.09 percent compared to the estimate 2019.
Notably, revenue from major taxes has increased compared to 2018. Revenue from the Corporate Income Tax increased by 10.25 percent compared to 2018 and this is the highest growth rate among three major revenues. However, this is the lowest growth rate in the recent three years because revenue from some major enterprises reached a low rate or had no payment.
Revenue from value-added tax increased by 7.67 percent compared to 2018. In particular, the revenue from the value-added tax in the non-state industrial and commercial sector in the highest (up 10.54 percent); the revenue from local state-owned enterprise sector had the lowest growth rate (equal to 100.9 percent); revenue from the central state-owned enterprise sector and the FDI enterprises increased by 7.51% and 4.2% compared to 2018.
Revenue from the Special Consumption Tax in the first 10 months of 2019 increased by 6.07% compared to 2018, mainly from enterprises engaged in production and trading of goods such as beer, cigarettes and cars.
Revenue from the Personal Income Tax increased by 12.37 percent compared to 2018. However, this is the lowest growth rate in the last three years.
By Le Thu/Ngoc Loan