HCM City (VNA) – Ho Chi Minh City collected 130.55 trillion VND (5.62 billion USD) for the budget in the first half of 2018, up 11.37 percent from a year earlier, according to the municipal Department of Taxation.

The six-month revenue, equivalent to 48.57 percent of this year’s plan, included 11.62 trillion VND (500 million USD) from crude oil, up 34.9 percent, and nearly 118.93 trillion VND (5.12 billion USD) from other domestic sources, up 9.5 percent.

At a meeting on July 23, Chairman of the HCM City People’s Committee Nguyen Thanh Phong appreciated tax contribution by businesses, especially amid the fluid overall economic situation.

He said the city has issued many solutions supporting production and business activities. More policies facilitating enterprises, particularly small- and medium-sized ones, will be devised in the time ahead.

Additionally, municipal authorities will hold regular dialogues with business associations to remove bottlenecks and create the best possible conditions for their operations.

General Director of the General Department of Taxation Bui Van Nam said despite an array of difficulties, businesses have expanded activities and contributed more and more tax to the State budget. They have also stood side by side with taxation agencies in carrying out tax policies and proposed many amendments to relevant policies.

In 2017, HCM City Department of Taxation fulfilled the budget revenue plan with nearly 238.89 trillion VND (10.28 billion USD) collected, up 16.8 percent year on year, the department reported.-VNA