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

Other news

Most view

Vietnam qualified to export catfish to the US

Vietnam qualified to export catfish to the US

The Food Safety and Inspection Service (FSIS) under the US Department of Agriculture recently proposed that Vietnam would be eligible to export catfish and other fish products to the US market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.