Many Budget Revenue Items Reach Targets

 

Thus, the cumulative domestic revenue grossed VND578.2 trillion in the first 10 months of 2015, equal to 90.5 percent of full-year estimation. Many revenue items exceeded estimates, including environmental protection tax (158.3 percent of estimation), agricultural land-use tax (133.3 percent), housing tax (128.9 percent), and registration fee (115.6 percent).

 

Tax from crude oil valued VND55.5 trillion, equal to 59.7 percent of estimation and down 37.7 percent from a year earlier. The volume of taxable crude oil was 13.9 million tonnes in the first 10 months, equal to 94.3 percent of the full-year plan and up 11.4 percent from the same period of 2014. Crude oil price averaged at US$58.4 a barrel, a decline of US$41.6 a barrel from the projection. Balanced customs revenue reached VND209.3 trillion in 10 months, equal to 80.5 percent of the estimation. After refunding VAT of VND70 trillion, balanced customs revenue was VND139.3 trillion.

 

State budget expenditures valued VND918.4 trillion in 10 months, equalling 80.1 percent of estimation. Particularly, spending on development investment approximated VND137.9 trillion, up 8.1 percent from the same period of 2014. By the end of October, the disbursement for construction investment reached 70.1 percent of the plan. The disbursement of proceeds from Government bonds completed 54 percent of the plan. Repayment to debts and aids totalled VND127.3 trillion. Expenditures for socioeconomic services, defence, security and administration were VND645.1 trillion. State budget also ensures funding for urgent tasks like defence, security and disaster mitigation.