|A corner of Ho Chi Minh City
The figure represented 71.44% of the yearly estimates, according to the municipal People’s Committee.
Domestic revenues came to VND174.43 trillion, up 12.97% on a yearly basis, while contribution from crude oil surpassed VND17.84 trillion, up 46.53%. Meanwhile, contributions from import-export activities totalled VND76.8 trillion, down 2.03%.
At the same time, the city’s budget expenditure in the period was estimated at almost VND39.7 trillion, up 8.53% from the same period last year and accounting for 45.7% of estimates. Of the figure, VND15 trillion was spent on development investment and VND22.26 trillion was regular expenditure.
To meet the goal of State budget collection, HCM City has adopted policies to facilitate production and business activities while fighting tax frauds.
The city’s tax department aims to reduce total outstanding tax debt to under 4% of State budget collection as of December 31 this year.
In order to tighten control of public expenditure and enhance the efficiency of budget spending, the municipal People’s Committee has required relevant agencies to classify investment projects and define specific priorities for investment.
This year, the central government assigned HCM City to collect VND376.78 trillion (more than US$16.2 billion) for the State budget, or over VND1.2 trillion a day.