State budget collection hit over VND1.1 quadrillion by mid-November

Thursday, Nov 29, 2018 16:58

A woman pays tax at the Ha Noi Tax Department. — VNA/VNS Photo Hoang Hung

Total State budget collection from the beginning of the year till November 15 was estimated at VND1.16 quadrillion (US$49.57 billion), up 16.1 per cent year-on-year.

The amount is equivalent to 87.9 per cent of the whole year’s estimate, according to the General Statistics Office (GSO).

In the period, domestic collection reached VND926.9 trillion, accounting for 84.3 per cent of the estimate.

Budget revenue from crude oil achieved 150 per cent of its estimated value at VND54.3 trillion.

Import-export activities contributed VND174.9 trillion to the State budget, 97.7 per cent of projected revenue.

Revenue from State-owned enterprises reached VND128.6 trillion, while foreign invested enterprises (excluding crude oil) was VND156.6 trillion, equivalent to 77.2 per cent and 70.3 per cent of the estimates, respectively.

Tax collection from industrial, trade and non-State services reached VND178.7 trillion, from personal income tax VND82.5 trillion and from environmental protection tax VND38.3 trillion. Compared to the yearly estimate, these budget revenues are estimated to fulfil about 80 per cent. Land use fee collection was VND102.1 trillion, exceeding the yearly estimate by 18.8 per cent.

According to the GSO, total budget spending was estimated at more than VND1.16 quadrillion, up 9.4 per cent from the same period last year, 76.6 per cent of the yearly target.

Regular expenditure from January to mid-November was estimated at VND806.8 trillion, 85.8 per cent of the year’s estimate.

Debt payment and interest expenses during the period hit VND93.5 trillion, some 83.1 per cent of the year’s estimate.

The budget spent on development investment was VND239.8 trillion, only 60 per cent of the estimate. — VNS

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