Vietnamese Minister of Finance Vu Van Ninh has said in an interview with the Nhan Dan newspaper that state coffer income will likely hit VND399 trillion (US$24.211 billion) this year, surpassing 23.5 per cent of the year’s target and the government will focus on curbing inflation and boost domestic production in the coming months.
Minister Ninh attributed growth in the coffer incomes to tax collection from crude oil production, imports and exports. Crude oil production has contributed up to 20 per cent to the coffer thanks to world oil prices hikes over the first months of the year.
Minister Ninh also said the prime minister has okayed to extend tax payments for agricultural, seafood, footwear, apparel, electronic spare parts companies this year to help boost competitive edges.
Vietnam will impose the initial 5 per cent of personal income tax instead of current 10 per cent, Ninh confirmed.
Exports and FDI inflows will be hurt by the crisis, however, overseas remittances are forecast to soar 13 per cent this year, Ninh said.
This year, Vietnam’s GDP growth rate will be 6.7 per cent, a remarkable growth level in the context of the global downturn with drivers of the world economy such as the U.S., the U.K., France and Germany…falling into recession, Ninh said. (The People)
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