Binh Duong among five localities with highest budget revenue collection

At the factory of Panasonic Life Solutions Vietnam Co., Ltd., Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen town, Binh Duong. (Photo: VNA)

Binh Duong (VNA) – The southern province of Binh Duong has contributed 14.94 trillion VND (637 million USD) to the State budget in the first quarter, ranked among the top five localities with the highest figures nationwide.

According to the provincial tax department, the Q1 collection fulfilled 33.03% of the yearly estimate assigned by the Ministry of Finance and was 20.25% higher than the same period in 2022.

Head of the department Nguyen Van Cong attributed the increase to a Government’s regulation requiring that businesses must temporarily pay 80% of their tax on January 31 this year and to the larger-than-last-year amount of some land leasing revenue.  

As of the end of 2022, Binh Duong had attracted more than 4,082 foreign direct investment (FDI) projects worth nearly 40 billion USD of registered funds, placing it among the top two localities in the country in FDI attraction, just after Ho Chi Minh City.

Also last year, its budget revenue collection amounted to some 61.94 trillion VND./.

VNA