FDI sector contributes most to HCMC budget

Foreign direct investment (FDI) enterprises contributed VND41,961 billion (US$1.87 billion) to the total budget revenue of VND106,111 billion (U$4.73 billion) in 2015, according to Ho Chi Minh City reports on budget revenue from the city's 2015 production and trading activities.

Production of precision engineered components at Misumi Group Company, Linh Trung 2 Export Processing Zone, HCMC (Photo: SGGP)

Non-state companies paid VND34,955 (US$1.56 billion) while the city collected VND29,195 billion (US$1.3 billion) from state-own enterprises.

Special consumption tax posted the highest collection increase, up nearly 17 percent over the previous year, mostly from wine, beer and automobiles.

Value added tax hiked nearly 15 percent and corporate tax saw the lowest increase with only 9.2 percent.

Special consumption and value added taxes have been paid by consumers while corporate tax paid by profit making companies.

By Han Ni – Translated by Hai Mien

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