City’s budget to collect VND 1, 230 per day in 2018

Locals and rangers in the Chu Yang Sin forest, Dak Lak (Source: VNA) Hanoi (VNA) – Vietnam has collected nearly 1.1 trillion VND (48.4million USD) from forest environment service fees from water suppliers,hydropower companies and tourist agencies, accounting for 66.3 percent of theyearly plan, the Ministry of Agriculture and Rural Development (MARD) said.The figure is expected to increase from the estimated 1.2 trillion VND (52.8million USD) in 2017 to 2 trillion VND (88 million USD) in 2018 as forestservice fees will be raised for hydroelectricity companies.MARD Minister Nguyen Xuan Cuong has directed the Vietnam Administration ofForestry (VAF) to review collection…... [read more]

illustrative image (Source: VNA)Hanoi (VNA) – State budget collectionin January-September increased 13.9 percent year on year to reach 843 trillionVND (37.1 billion USD), equal to 69.5 percent of the estimate, according to theMinistry of Finance (MoF).Domestic revenue was estimated at 663.7 trillionVND (29.2 billion USD), making up 67 percent of the estimate and representing ayear-on-year rise of 11.4 percent.The finance ministry said direct revenues fromproduction and business activities were low due to reductions in contributions fromsome major manufacturing sectors such as crude oil and gas, automobile, mobilephone, and cigarette.However, totaldomestic revenue still posted an increase thanks to higher indirect revenues,…... [read more]

Jan-Oct budget collections up 15.2%The Saigon Times Daily HCMC - State budget collections in the first 10 months of the year neared VND719.5 trillion, rising 15.2% compared to the same period last year and meeting 91.9% of the whole year’s target.  The Ministry of Finance said State budget collections have grown steadily this year. In the year to the end of last month, total State budget revenues had surpassed VND636 trillion, or 81.3% of the year’s target. Tax and fee collections from domestic sources in the January-October period increased 16.5% year-on-year and reached 90% of the year’s target. The respective…... [read more]

City to boost budget collections to meet 2016 targetMinh Tam By Minh Tam - The Saigon Times Daily HCMC – The HCMC Department of Finance should transfer more State assets including land, and boost fee collections to meet this year’s budget revenue target of VND298.3 trillion (US$13.3 billion). HCMC vice chairman Le Van Khoa told the municipal Department of Finance to increase budget collections to realize the tough target set by the Government at the agency’s review meeting on January 13. Transfers of housing and land under the city’s management should be sped up to raise funds for development investment…... [read more]

Illustrative photo (Source: VNA)Hanoi (VNA) - Total State budget collection in the first eight months of this yearwas estimated at 762.8 trillion VND (33.4 billion USD), an increase of 12.8 percentover the same period last year.The amount isequivalent to 63 percent of the whole year’s estimates, according to theMinistry of Finance. In the reviewed period, domestic collection reached 603.6trillion VND (26.5 billion USD), up 10.7 percent year-on-year, accounting for61 percent of the year’s estimates.The ministry said budget revenues from crude oil exports,estimated at roughly 29.97 trillion VND (1.3 billion USD), met 78.3 percent ofestimates, up 11.3 percent over the same period…... [read more]

According to the provincial People’s Committee, the figure includes 24.7trillion VND (1.16 billion USD) contributed by local production andbusiness activities, 2.8 trillion VND (131.6 million USD) from exportand import, and 263.4 billion VND (12.3 million USD) from land use. Twelve out of 14 districts and cities have their budget collectionincreased by 105 -193 percent, including the districts of Duc Pho, MoDuc, Tu Nghia, Binh Son, Ba To, Minh Long, Son Ha, Son Tay, Tra Bong,Ly Son, Tay Tra and Quang Ngai city. The DungQuat Oil Refinery Plant contributed 22.2 trillion VND (1.04 billion USD)to the total, making up 89.8 percent…... [read more]

The sum accounted for 16.6 percent ofthe whole year’s budget estimates and represented a year-on-year rise of12.9 percent. Of the amount, 93 trillion VND camefrom domestic taxes, equivalent to 17.3 percent of the year’s estimates.The outcome was attributed to bustling economic activities in the lastmonths of 2013 and the first months of 2014. The11.6 percent increase in total retail sales and consumption servicerevenues greatly contributed to the two-month budget collection, plus1.8 trillion VND from dividends of State capital at State-ownedcompanies and 2.1 trillion VND from small- and medium-sized enterprises’corporate income tax. 32 trillion VND was collected from import-export activities, or…... [read more]

The MoF reported that the amount of State budget collection surged 16.9% against the same period last year.Domestic budget collection was estimated at over VND 66.8 trillion in May and over VND 388 trillion in the first five months, representing 39.2% of the yearly forecast and up 15.6% against the same period last year.In May, budget collected from crude oil reached VND 3.84 trillion, up nearly VND 4 billion against April. In the January-May period, the figure hit VND 18.9 trillion, equivalent to 49.3% of the year forecast, up 16% against the same period last year.In May, export revenue was estimated at…... [read more]

Budget collection of crude oil valued VND 66 trillion (US$3.1 billion), lower than VND 76 trillion of tax debts, said Deputy Finance Minister Do Hoang Anh Tuan.Mr. Tuan made the announcement yesterday at an interview with the Viet Nam Television.According to the Deputy Minister, the budget collection from crude oil no longer contributed highly to budget collection in comparison with five and ten years ago.Mr. Tuan said that oil price dropped to US$36 a barrel and would not affect budget collection in 2015.The Ministry of Finance crafted concrete scenarios for oil prices at US$60, 50, and 45 a barrel or…... [read more]

Prime Minister Nguyen Tan Dung has asked the financial sector tospare no effort to meet the target on State budget revenues for thisyear. PM Dung made the request at the Ministry of Finance’sconference in Hanoi on July 17 to review the implementation offinancial-budgetary tasks in the January-June period and the work in theremaining months of this year. He stressed that the ministryshould closely watch the refund of added-value tax, take action againstthe transfer of prices, deal with tax evasion and debt while heedingadministrative reforms, especially in taxation and customs. Theleader also urged ministries, departments and localities to seriouslymonitor how the…... [read more]