Representatives of enterprises pay to the state budget at the State Bank of Viet Nam. Ha Noi's budget revenue surpassed its yearly target to reach VND 118,700 billion (US$5.6 billion). — VNA/VNS Photo Pham Hau

HA NOI (Biz Hub) — The capital city's budget revenues exceeded its yearly target by 3.1 per cent to reach VND118,700 billion (US$5.6 billion).

The figures were released during a conference to review tax operations of Ha Noi in 2014.

According to officials in Ha Noi City's Tax Department, there are more than 105,000 enterprises paying tax online. In addition, over 7,000 companies registered for online tax payments and paid VND2,090 billion ($99.5 million) into the state budget.

In 2014, the department also boosted its examination and collections of tax debts. More than 10,000 cases have been fined VND8.7 billion (more than $414,000) for violating tax payment regulations.

Municipal People's Committee chairman Nguyen The Thao said that the excess in budget revenues would provide a crucial contribution to developing the city's socio-economic sectors next year.

He added that the tax agencies need to carry out measures to provide favourable conditions to enterprises to help them improve their production and business operations.

At the conference, the department committed to reducing difficulties for firms, while supporting taxpayers to reach its 2015 goals. — VNS