Tax payment from state own enterprises sharply reduces in HCMC

The tax amount collected from state own enterprises (SOEs) reduced 77.37 percent over 2016 to VND15,768 billion (US$694 million) last year and from local SOEs went down nearly 83 percent to VND6,445 billion, reported HCMC Taxation Department.
Conversely, tax payment from foreign invested companies and non-state sector buinesses and service firms moved up 18.88 percent to VND58,019 billion and 13.7 percent to VND48,849 billion respectively.
Two revenues strongly increasing from these two economic sectors comprise special consumption tax, up 36.49 percent, and resource tax.
Total tax revenue in HCMC was VND238,889 billion, up 16.84 percent over 2016. Of these, crude oil brought VND16,865 billion, raising 18.61 percent. Domestic income excluding oil, lottery and land use fee was VND197,266 billion, increasing 12.1 percent.

By DO DOAN – Translated by Hai Mien

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