Ho Chi Minh City’s domestic tax collection highest in decade

The southern metropolis Ho Chi Minh City collected 35 trillion VND (1.52 billion USD) for its coffer during January 2017, departments and agencies reported the municipal authorities on February 6.

Illustrative image (Source: VNA)

HCM City (VNA) – Thesouthern metropolis Ho Chi Minh City collected 35 trillion VND (1.52 billionUSD) for its coffer during January 2017, departments and agencies reported themunicipal authorities during a working session on February 6.

Of the figure, nearly 24.6trillion VND (1.06 billion USD) was from domestic taxes, a record in the pastdecade and up 13 percent annually.

It was attributable to theincreasing number of well-performing enterprises and local support for them,including preferential credit, bank-businesses connectivity and dialogues withmunicipal authorities.

This year, the city targetsbudget collection of more than 347 trillion VND (15 billion USD).

Tran Vinh Tuyen, Vice Chairman ofthe municipal People’s Committee, called for encouraging business households toupgrade themselves into enterprises and cracking down on trade fraud andtransfer pricing.-VNA

VNA