Last updated: Thursday, March 23, 2017
Budget Revenue Rises 15.8 Pct in Jan-FebPosted: Monday, March 13, 2017
The Ministry of Finance said the State budget revenue reached VND185.8 trillion in the first two months of 2017, equal to 15.3 per cent of the full-year estimate and up 15.8 per cent over the same period of 2016.
Specifically, domestic revenue was VND157.1 trillion in the period, equal to 15.9 per cent of the estimate and up 12.9 per cent year on year. Without taking land-use levies, dividends, retained profits and lotteries, the collected value rose just 6 per cent, lower than the same period last year. Some important sources of revenue included the foreign-invested sector whose tax payments fulfilled 16.9 per cent of the full-year estimate, rose 2.3 per cent year on year; the non-state sector whose payments reached 18.2 per cent of the yearly estimate and climbed 5.1 per cent year on year; personal income taxes which completed 18.8 per cent of the estimate and increased 23.7 per cent; charges and fees equalled 17.4 per cent of the estimate and looked up 60.2 per cent; and revenues from housing and land which accounted for 20.1 per cent of the estimate.
As many as 35 out of 63 provinces and cities reached the estimate progress (over 17 per cent) in the two months, of which 27 reported the fulfilment of over 18 per cent, 47 reported a year-on-year growth, and 16 posted a decline from a year ago.
Revenue from crude oil was estimated at VND6.6 trillion in two months, equalling 17.4 per cent of the full-year estimate and rising 8.9 per cent from a year-ago period. Revenue from export and import valued VND41 trillion, accounting for 14.4 per cent of the estimate and rising 22.1 per cent year on year. After carrying out VAT refunds according to the law (VND19 trillion), the State budget collection was projected at VND22 trillion, accounting for 12.2 per cent of the estimated full-year value and growing 46.6 per cent year on year.