State budget collection hits 1.1 quadrillion VND in 10 months
The Finance Ministry reported on November 12 that total State budget collection was estimated at 1.12 quadrillion VND in the January-October period, equivalent to 84.9 percent of the yearly estimates, and up 15.1 percent from the same time of 2017.
Transaction at State Treasury (Illustrative image. Source: VNA)Hanoi (VNA) – The Finance Ministry reported on November 12
that total State budget collection was estimated at 1.12 quadrillion VND in the January-October period, equivalent to 84.9 percent of the yearly estimates,
and up 15.1 percent from the same time of 2017.
The figure included over 896 trillion VND sourced from domestic revenues, which represented 81.6 percent of the yearly estimates, and showed a rise of 15.8 percent year on year.
Excluding the sum gained from land use, lottery, dividends and post-profit of State enterprises, and the retrieval of State investment invested in economic organization and others, the domestic revenues was estimated at 682.2 trillion VND, equaling 78.6 percent of the yearly estimates, and rising by 13 percent from the same time of 2017.
During the reviewed period, State budget spending reached 1.103 quadrillion VND, or 72.4 percent of the yearly estimates, and up 9.4 percent from the same time last year.
As by November 26, Government bonds worth 141.9 trillion VND were issued.
The ministry said relevant agencies need to double their efforts to manage prices to ensure market stability and combat smuggling and trade frauds.
The agencies need to be proactively monitoring petroleum prices in the world market and drastically implement Party, State and Government instructions and resolutions on the fight against smuggling and trade frauds, it said.
The ministry asked localities and sectors to increase the management of budget collection to prevent tax evasion, trade fraud, and transfer pricing so the State budget collection task for 2018 will be fulfilled.-VNA
The figure included over 896 trillion VND sourced from domestic revenues, which represented 81.6 percent of the yearly estimates, and showed a rise of 15.8 percent year on year.
Excluding the sum gained from land use, lottery, dividends and post-profit of State enterprises, and the retrieval of State investment invested in economic organization and others, the domestic revenues was estimated at 682.2 trillion VND, equaling 78.6 percent of the yearly estimates, and rising by 13 percent from the same time of 2017.
During the reviewed period, State budget spending reached 1.103 quadrillion VND, or 72.4 percent of the yearly estimates, and up 9.4 percent from the same time last year.
As by November 26, Government bonds worth 141.9 trillion VND were issued.
The ministry said relevant agencies need to double their efforts to manage prices to ensure market stability and combat smuggling and trade frauds.
The agencies need to be proactively monitoring petroleum prices in the world market and drastically implement Party, State and Government instructions and resolutions on the fight against smuggling and trade frauds, it said.
The ministry asked localities and sectors to increase the management of budget collection to prevent tax evasion, trade fraud, and transfer pricing so the State budget collection task for 2018 will be fulfilled.-VNA
You should also see
Digital transformation – optimal choice for Vietnamese garment & textile firms
Digital transformation is considered a “key” to help Vietnamese garment and textile enterprises expand while meeting sustainable development, heard a recent conference held in Ho Cho Minh City.
See more
Videos
Green economic development essential for businesses
Sustainable and green growth is emerging as an inexorable trend globally and been adopted by many countries, including Vietnam. This form of growth promotes the restructuring of the economy, fostering economic prosperity, environmental sustainability, and social equity.
Business
Trade surplus hits 8.4 billion USD in four months: GSO
Vietnam's import-export revenue reached 238.88 billion USD in the first four months of this year, with trade surplus reaching 8.4 billion USD, higher than the 7.66 billion USD recorded in the same period last year, according to the General Statistics Office (GSO).
Business
InfographicVietnam posts prominent economic achievements since 1975
Forty-nine years since Reunification Day (April 30, 1975 - 2024), Vietnam has recorded significant progress in its socio-economic development and quality of life for its citizens has continually improved. The scale of its GDP has consistently expanded, reaching approximately 430 billion USD in 2023, making it the fifth-largest economy in ASEAN and 35th among the world’s largest 40 economies.
Business
Kien Giang prioritising agricultural production towards resilience
The Mekong Delta province of Kien Giang is among localities significantly impacted by climate change, particularly drought and saltwater intrusion. In response to these pressing issues, it has prioritised agricultural production with a focus on resilience, developing various production models tailored to its circumstances.
Business
Vietnamese, Chinese, Lao localities promote tourism cooperation
More than 150 representatives from domestic tourism businesses and firms from China’s Yunnan province and Laos’ Vientiane city have shared experience and proposed measures to boost cooperation at a conference held in Sa Pa resort town, the northern province of Lao Cai.
