State budget collection hits 1.1 quadrillion VND in 10 months hinh anh 1Transaction 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