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Braving pandemic, HCM City’s budget collection surpasses target

Budget collection has become a bright spot of Ho Chi Minh City’s economy in 2021 when it surpasses the year’s target despite severe impacts of the COVID-19 resurgence.
Braving pandemic, HCM City’s budget collection surpasses target ảnh 1An intersection in HCM City (Photo: VNA)
HCM City (VNA) -Budget collection has become a bright spot of Ho Chi Minh City’s economy in2021 when it surpasses the year’s target despite severe impacts of the COVID-19resurgence.

The southern economic hub recorded an estimated 370.483 trillion VND (16 billion USD) in budget revenue this year, equivalentto 101.3 percent of the target, according to a resolution issued by themunicipal People’s Council on December 9.

Basing on that result, HCMCity targets next year’s budget revenue at 386.568 trillion VND, up 5.9 percentfrom the 2021 target and 4.3 percent from the figure obtained this year.

Vice Chairman of themunicipal People’s Committee Le Hoa Binh said the fourth wave of COVID-19, witha prolonged social distancing period, has seriously affected everysocio-economic aspect, particularly businesses’ operations and people’s life.

To assist enterprises, localauthorities have reduced taxes and extended tax payment deadlines. As a result,the budget collection has gradually decreased since May. Notably, the revenuedropped strongly year on year in August and September.

Facing that fact, relevantagencies have worked to support businesses and people. Besides, the positivebusiness results of real estate and financial - banking firms in the year’sfirst half and effect of the tax payment deadline extension have helped boostthe budget collection in 2021, Binh noted./.
VNA
#Ho Chi Minh City #budget collection #budget revenue #COVID-19 #tax payment #social distancing #HCM City People's Counci #HCM City People's Committee #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City
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