HCM City’s domestic tax collection highest in decade
The southern metropolis Ho Chi Minh City collected VND35 trillion (US$1.52 billion) for its coffer during January 2017, departments and agencies reported the municipal authorities during a working session on February 6.
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Of the figure, nearly VND24.6 trillion (US$1.06 billion) was from domestic taxes, a record in the past decade and up 13% annually.
It was attributable to the increasing number of well-performing enterprises and local support for them, including preferential credit, bank-businesses connectivity and dialogues with municipal authorities.
This year, the city targets budget collection of more than VND347 trillion (US$15 billion).
Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, called for encouraging business households to upgrade themselves into enterprises and cracking down on trade fraud and transfer pricing.
