Vietnam Collects VND171T Taxes for State Budget in H1: Ministry

Vietnam is estimated to have collected a total of VND171 trillion (US$10 billion) in taxes for the state coffers in the first half of this year, meeting 43.9 per cent of the full-year target, according to the Ministry of Planning and Investment.

 

Of that total figure, VND105 trillion in taxes were paid by local companies, meeting 45.1 per cent of the target, VND23 trillion was contributed by the crude oil sector, or 36.1 per cent of the target and VND41 trillion was sourced taxes from export-import activities, fulfilling 46.6 per cent of the target, the MPI noted in a statement.

 

Meanwhile, the Southeast Asian country is expected to have spent a total of VND197.5 trillion (US$11.617) in the period, or 40.2 per cent of the full-year target, the MPI said.

 

Of the total spending, the government spent VND48 trillion for investment projects, VND121.8 trillion for socioeconomic, security and national defense activities, meeting 45.2 per cent of the target and VND25.9 trillion (US$1.523 billion) to cover foreign debts, representing 44 per cent of the target.

 

This year, the government is aiming to achieve GDP growth of 5 per cent and curb the deficit in state funds at 7 per cent to 8 per cent of the GDP this year.

 

The Finance Ministry has said that the total state budget incomes for 2010 are estimated at 21 per cent of the country’s GDP value. (New Hanoi, Vietnam Economic Times)