Vietnam's budget revenue climbs 14 percent to hit $37 bln from Jan-Sep

Created 12 October 2017
  • PDF
Editor Choice
Share
(0 votes, average 0 out of 5)

Most of the revenue came from housing and land tax, personal income tax, admin fees and the lottery tax.

Around VND843 trillion ($37 billion) was collected for Vietnam's state budget during the first nine months of the year, an increase of 14 percent on-year and equivalent to 69.5 percent of the annual target, according to data released by the Ministry of Finance on Wednesday.

Domestic collections reached $29.26 billion, accounting for nearly 80 percent of the total, of which housing and land tax, personal income tax, admin fees and the lottery tax were among the major contributors.

Budget revenue from crude oil climbed 15 percent on-year to reach $1.5 billion, hitting 88.9 percent of the annual target.

Meanwhile, collections from import and export activities reached $9.43 billion, or 75.1 percent of the annual plan, up 10.5 percent on-year.

Over 90 percent of provinces reported higher budget collections than the same period last year, according to the ministry.

However, the ministry said that direct revenue from production and business activities had underperformed due to falling contributions from major manufacturing sectors such as crude oil and gas, automobiles, mobile phones and cigarettes.

Total state budget expenditure in the first nine months reached nearly $40 billion, or 65.1 per cent of the yearly plan.

By the end of September, overspending had reached around $17 billion, standing at 70 percent of the limit for 2017.


Source: VNE

Maybe You Also Interesting :

» Vietnamese dance crew enters Asia’s Got Talent Season 2

Việt Nam’s 218 Dance Crew qualified for Asia’s Got Talent Season 2 last Saturday, with the qualifying round airing at 8pm on national channel HTV3 -...

» Doctors use robots in minimally-invasive surgery

Chợ Rẫy Hospital in HCM City on Monday used a robot-assisted system to perform complex minimally-invasive surgery. This is the third hospital in Việt...

» Fish die en masse in central province

Fish farmers in central Quảng Ngãi Province are concerned about the thousands of dead fish, which are polluting a local lake.

Popular News Categories:

- Asia & Asean  |  EU & Russia  |  America

- Facts  |  Urban  |  Faculty  |  Environment

- Business  |  Finance  |  Market Health

- Destination  |  Cuisine  |  Arts Music

- Cinema  |  Soccer  |  Sports  |  IT & Internet