According to a report from the Da Nang Taxation Department, the total of tax collected in the city between January and May hit around 7 trillion VND, fulfilling 43.8% of the year’s estimates set by the city, and 43.9% of that set by the national government.  Of this figure, 429 billion VND was collections of personal and corporate income taxes from real estate transference activities.

Local hotels along Vo Nguyen Giap

During that period, the Ngu Hanh Son District’s total budget collections achieved 193 billion VND, fulfilling 71.8% of the year’s estimates.

Ms Le Thi Doi, Deputy Head of the district’s Taxation Bureau, said that the above positive result was mainly attributed to the significant increase in tax collections from real estate transactions, and construction projects in the district whose developers come from other localities.  In particular, the total of tax collected from the construction projects and real estate transactions generated 35 billion VND and 37.2 billion VND respectively.

Between January and May, the total tax collection in Son Tra District hit over 313 billion VND, fulfilling 75.1% of the year’s estimates set by the city, and nearly double the figure for the same period last year.

Of this figure, non-state-owned businesses involved in local industrial and commercial activities and services contributed over 203 billion VND, exceeding 8.45% of the district’s estimates.  Meanwhile, collections of personal income tax and real estate transactions achieved over 52 billion VND and 53 billion VND respectively.

In addition, some large businesses involved in real estate sector made major contributions to the district’s total budget collections, including the Ha Bac Company with 440 million VND, and the city’s branch of the South Vincom Retail with 105 billion VND.