Binh Thuan: Budget collection recorded highest revenue

In 2019, state budget collection realized 12.984 trillion, increasing nearly 40% of the year’s estimate, and raising by 22.7% compared with 2018’s revenue. With such results, 2019 has achieved  the highest budget revenue since the foundation of the province’s tax sector.

Accordingly, 12 out of 18 terms posted increases in revenues, as follows: tax collection from central state-owned businesses reached VND 1.436 trillion (up 39.4% of the year’s estimate); tax collection from local businesses performed a turnover of VND 148 billion (up 47.5%); collection from foreign-invested businesses realized VND 1.021 trillion (up 86.6%). Especially, 2019 has been the first year with tax collection from non-state economic sector exceeding 31% of the 2019’s tax collection estimate. This impressive figures come from local tax sector’s ceaseless efforts in implementing administrative procedure reform, supporting businesses… For 2020, the provincial authorities assigned tax sector to perform a total budget revenue of VND 10.750 trillion, with VND 1.300 trillion from crude oil.

Speaking at the conference, vice chairman Luong Van Hai highly appreciated the success of local tax sector in 2019 and asked the unit to boost budget collection work to bring a favorable tax collection in 2020. On that occasion, 2 enterprises and 2 persons in Binh Thuan had the honor to be awarded certificates of merit by Ministry of Finance. Chairman of the provincial People’s Committee presented certificates of merit to 3 local enterprises while 12 other enterprises received certificates of merit from the provincial Tax Department.

Translated by Phuong Lan (Source: Binh Thuan Online)