Illustrative image (Photo: VNA) HCM City (VNA) -State budget collections in HCM City in the first four months were estimated atover 117 trillion VND (5 billion USD), 28.9 percent of the estimate and down12.4 percent year-on-year, the city’s Statistics Office reported.
It attributed the declineto the COVID-19 outbreak.
Domestic budgetcollections fell 11 percent year-on-year to 78.9 trillion VND. Revenue fromcrude oil topped 5.5 trillion VND, down 26.2 percent, while that from exportsand imports fell 13 percent annually to 32.7 trillion VND
Revenue from State-owned enterprisesaccounted for 9.7 percent of domestic collections, down 13.6 percent year-on-year.Revenue from private enterprises fell 21.1 percent to 20.7 trillion VND whilethat from foreign-invested enterprises was over 21.5 trillion VND down 5.6percent.
Revenue for local budget wasover 19.7 trillion VND, down 13.2 percent against the same period last year.
The city’s total expenditure during thefour months stood at more than 18 trillion VND, up 11.3 percent year-on-year. Nearly5 trillion VND was for development, up 14.2 percent annually.
The city is adopting a number ofmeasures to support residents and businesses hit by COVID-19. It has assignedthe Taxation Department to establish a set of criteria for those eligible fortax breaks and exemptions and will offer land lease payment extensions inaccordance with Government Decree No. 41/2020/ND-CP dated April 8, 2020.
It has also worked with authorities in24 districts to review a list of business households that suspendedoperations and had annual revenues of less than 100 million VND which will beoffered support./.
