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Vietnam Today

State budget revenue down in September

Released at: 11:21, 26/09/2015

State budget revenue down in September

Revenue in first half of month only 91% of figure in first half of September 2014.

by Son Ho

Total revenue to the State Budget in the first half of September was estimated at VND19.73 trillion ($877.2 million), or around 91 per cent of the figure recorded in the first half of September 2014, for a fall of $80.03 million. The information was contained in a report on production, business, services, and investment in September prepared by the Ministry of Planning and Investment (MPI).

The MPI report also noted the reasons behind the fall: tumbling crude oil prices and lower export and import activities.

Accumulated revenues year-to-date by September 15 reached VND640.42 trillion ($28.47 billion), equivalent to 70.3 per cent of the annual plan. Domestic revenue was VND474.62 trillion ($21.19 billion), 74.3 per cent of the annual plan, while revenue from crude oil stood at VND49.58 trillion ($2.20 billion), or 53.3 per cent of the target for the year. Revenue from import and export activities was VND112.84 trillion ($5.02 billion), or 64.5 per cent.

Many domestic revenues were higher than the averate rate against the annual target of 70.3 per cent, such as environmental protection taxes (117 per cent), revenue from land use (101 per cent), registration fees (99 per cent), personal income tax (79.3 per cent), and revenue from the non-state industrial and commercial sector (74 per cent).

As for expenditure, loan repayments totaled VND110.4 trillion ($4.91 billion), 73.6 per cent of the annual plan, and expenditure on socioeconomic development, national security and defense, and public administration stood at VND542.76 trillion ($24.13 billion), 70.8 per cent of the yearly target.

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