Hanoi’s 2018 tax collection beats target by 4pct

04-Jan-2019 Intellasia | Hanoi Times | 6:00 AM Print This Post

In 2019, Hanoi is tasked to collect VND245.73 trillion (US$10.5 billion), an increase of 8 percent from 2018.

Hanoi’s taxman collected VND226.79 trillion (US$9.7 billion) for state coffers in 2018, rising 16.5 percent from 2017 and exceeding the target by 3.9 percent, an official said on December 31, 2018.

Tax collection from production and business increased in the year and reached a high over the last three years. Specifically, tax revenue from the non-state industry and trade sector rose 20.1 percent while that from personal income tax soared 21 percent, said Nguyen The Manh, deputy director of the general Department of Taxation cum head of Hanoi’s Taxation Department.

The positive result was thanks to close compliance of the local authorities’ guidance, detailed preparation, streamlined procedures and fight against tax evasion, Manh added.

The municipal tax authority collected VND12.1 trillion (US$517 million) in tax arrears, helping reduce the tally of tax arrears as of December 31, 2018 by VND700 billion compared to the same timeframe in 2017.

Addressing the meeting to review the tax department’s performance, Chair of the Hanoi People’s Committee Nguyen Duc Chung hailed the results. He also asked the local tax authority to make efforts right at the start of 2019 to surpass the year’s target by 3-5 percent.

In 2019, Hanoi is tasked to collect VND245.73 trillion (US$10.5 billion), an increase of 8 percent from 2018.

On the same day, director of the State Treasury Hanoi Dao Thai Phuc reported that state budget collection in the city reached VND244.37 trillion (US$10.44 billion), 2.52 percent above the year’s plan.

Tax collection from production and business increased in the year and reached a high over the last three years. Specifically, tax revenue from the non-state industry and trade sector rose 20.1 percent while that from personal income tax soared 21 percent, said Nguyen The Manh, deputy director of the general Department of Taxation cum head of Hanoi’s Taxation Department.

The positive result was thanks to close compliance of the local authorities’ guidance, detailed preparation, streamlined procedures and fight against tax evasion, Manh added.

The municipal tax authority collected VND12.1 trillion (US$517 million) in tax arrears, helping reduce the tally of tax arrears as of December 31, 2018 by VND700 billion compared to the same timeframe in 2017.

Addressing the meeting to review the tax department’s performance, Chair of the Hanoi People’s Committee Nguyen Duc Chung hailed the results. He also asked the local tax authority to make efforts right at the start of 2019 to surpass the year’s target by 3-5 percent.

In 2019, Hanoi is tasked to collect VND245.73 trillion (US$10.5 billion), an increase of 8 percent from 2018.

On the same day, director of the State Treasury Hanoi Dao Thai Phuc reported that state budget collection in the city reached VND244.37 trillion (US$10.44 billion), 2.52 percent above the year’s plan.

http://www.hanoitimes.vn/hanoinews/2019/01/81E0D165/hanoi-s-2018-tax-collection-beats-target-by-4/

 


Category: Economy, Vietnam

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