HCM City Tax Authority Collects VND96,661 Bln in Six Months

The Ho Chi Minh City Tax Department collected VND96,661 billion of taxes and fees to the State Budget in the first six months of 2016, fulfilling 49.37 per cent of the full-year plan and 9.53 per cent year on year. Domestic revenue, exclusive of crude oil, was VND89,614 billion, equal to 50.46 per cent of the estimate and up 20.03 per cent from a year earlier. Crude oil tax was VND6,930 billion, equal to 38.08 per cent of the estimate and down 44.33 per cent year on year. Domestic revenue, exclusive of crude oil tax and land-use fee, was VND81,769 billion, equal to 50.82 per cent of the estimate and up 22.22 per cent year on year.

 

By the end of June 2016, 97.78 per cent of companies in operation registered electronic tax payment accounts and 89.84 per cent successfully activated tax payment accounts with banks. 99.18 per cent of companies registered to declare tax online.

 

The department intensified inspection and examination into VAT refunds and dissolved businesses and raised the spirit and attitude of law observance in the first six months. Tax authorities inspected 8,566 companies from January to June, up 7.5 per cent from the same period of 2015, and imposed fines of VND1,296 billion, equal to 67.32 per cent of the value in the same period in 2015.