CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
State budget's revenue reaches US$19.6 billion
Nguyen Tung 14:25, 2018/05/13
Total state budget exceeded VND446 trillion (US$19.6 billion) in the first four months, equivalent to 33.8% of the year estimation and up 12.1% year on year, informed the Ministry of Finance.
Domestic tax collections in April contributed VND91 trillion (US$4 billion), including state capital divestment from state owned enterprises. Total domestic tax collection in the first four months reached VND368.1 trillion (US$16.2 billion), equivalent to 33.3% of the year estimation and up 14.5% year on year. 
 
State budget's revenue reaches US$19.6 billion in the first four months.
State budget's revenue reaches US$19.6 billion in the first four months.
It is estimated that 50 out of 63 provinces with domestic tax collection reaching the estimation target of over 32%, in which 34 provinces having the figure of over 35% estimation; 46 out of 63 provinces reported a higher revenue than the same period of last year, while 19 provinces scored a lower rate. 

Budget revenue from crude oil in April was estimated at VND4.8 trillion (US$211.2 million), taking the revenue from 4 months at VND19.1 trillion (US$840.4 million), equivalent to 53.3% of estimation and up 27% compared to the same period of last year. 

Vietnam`s import-export duty revenue in April is reported at VND21.3 trillion (US$937.2 million), resulting in VND90 trillion (US$3.96 billion) in four months, equivalent to 31.8% of estimation and down 2.9% compared to the same period of last year. 

State budget expenditure accounted for VND119.5 trillion (US$5.25 billion) in April, resulting in total state budget expenditure in the first four months of VND410 trillion (US$18 billion), equivalent to 26.9% of estimates, and up 4.6% compared to the last year's period. 

Of the total, regular expenditures are posted at VND301.5 trillion (US$13.26 billion), equivalent to 32.1% of estimation and up 5.4% year on year, while payments for debts were seen at VND41.75 trillion (US$1.83 billion), equivalent to 37.1% of estimation and up 13.7% comparing to same period of last year; expenditure for investment reached VND65 trillion (US$2.86 billion), equivalent to 16.3% of estimation and 94.8% of last year's period. 

Vietnam's state budget is estimated to reduce by some VND30.15 trillion (US$1.32 billion) this year as the country has to apply the elimination of multiple tariff barriers under signed free trade agreements (FTAs), according to the General Department of Customs.

This year is an important transitional year of the elimination of tariff barriers for many commodities imported from ASEAN countries, as over 90% of the goods under the ASEAN trade agreement (ATIGA) will bear 0% tariff. The strongest tax reduction is applied to some items with large tax revenues such as auto (30% to 0%), components and spare parts (5%, 20% to 0%), steel (5% to 0%), and agricultural products, tobacco, and alcohol.
Comments
Other news
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.