According to information released by the Da Nang Department of Finance, since the start of this year the city has seen a remarkable recovery in its trading and production activities, especially in real estate transactions.  This has helped the city to gain positive results in its tax collections.

Workers at a local company

Over the first half of the year, collections from non-state-owned businesses involved in local industrial and commercial activities and services reached 66.9% of the year’s estimates set by the central government, up 27.5% against the same period last year.  Meanwhile, collections from FDI companies represented 73.4% of the target, up 59.4%.

Over the 6-month period, some businesses made significant contributions to the city’s total budget collections.  Included were the Asia Food Cooperation with 16.3 billion VND, the Binh Vinh Corporation with 9 billion VND, and the Huu Nghi Production and Trading Company with 18.1 billion VND.

According to the Hai Chau District Taxation Department, between January and August the total tax collection in the district hit over 615 billion VND, fulfilling 84.65% of the year’s target set by the city, and up 28.96% against the same period last year.

Of this figure, non-state-owned businesses involved in local industrial and commercial activities and services contributed over 377 billion VND, fulfilling 81.23% of the year’s estimates, up 27.14% in comparison with the same period last year.

Between January and September, the city saw a significant increase in real estate transactions amongst local businesses, which helped the city to significantly increase its total tax collections.

Over the 9-month period, other businesses have made major contributions to the city’s total budget collections, including the Sunrise-Premier Village Danang Resort with 218.5 billion VND, the Sun Group with 77.6 billion VND, and the Da Nang-Mien Trung company with 60 billion VND.  During the period, collections of personal income tax achieved 79.9% of the year’s target set by the central government, an increase of 26.8% against the same period last year.