More than 70,000 small- and medium sized enterprises (SMEs) in the
capital have benefited about 5.15 trillion VND (245 million USD) from
the Government's tax relief policy this year.
package included the extension and reduction of land use fees and
corporation income tax payments, according to the deputy director of the
city's Tax Department Thai Dung Tien.
help ease the financial burden on enterprises as well as maintain and
develop production to overcome tough economic times while boosting
recovery of the city's economy," Tien said.
Economic difficulties have forced more than 7,740 city firms to shut
down during the first five months of this year, more than 80 percent
higher than the quarterly average figure of last year and equal to 68
percent of last year's total number of bankruptcies.
Tien stressed that his department has enhanced inspections to ensure
the efficiency of the tax policy and prevent tax fraud.
As a result, from the beginning of this year, the Hanoi Tax Department
collected 472 billion VND (22.47 million USD) in arrears for the State
budget while preventing the loss of hundreds of billions of dong in
revenues, he added. -VNA