According to the latest figure released by the Da Nang Department of Finance, as of 15 October, the city’s total budget collection had reached 20,104 billion VND, fulfilling 77.7% of the year’s estimates.

The first 9 months of the years saw positive results in domestic and import and export taxes collection.

Of this, the domestic collection hit nearly 17,000 billion VND, representing 74.9% of the year’s estimates, whilst over 3,100 billion VND came from import and export taxes, equivalent to 96.2% of the year’s estimates. The total budget collections from local districts reached 3,400 billion VND.

In particular, as of 23 October, Ngu Hanh Son District’s total budget collections had surpassed this year's estimates by 0.3% to achieve over 530 billion VND, a rise of 0.7% against last year.

Mr Vo Quang Nam, Head of the district’s Tax Bureau, said that the above positive result was mainly attributed to the significant increase in tax collections from real estate transactions, and stronger measures taken to reduce revenue losses.

“Since the start of the year, the district authorities have collected and fined a total of over 1.9 billion VND in overdue tax arrears from 102 private businesses”, Mr Nam noted.

As of 23 October, the total of tax collected in Cam Le District had hit over 460 billion VND, fulfilling 82.08% of the year’s estimates, equalling 116.5% over the same period last year. Of this figure, private businesses involved in industrial and trading activities contributed more than 200 billion VND, accounting for about 48% of the total.

Mr Nguyen Ngoc Tung, Head of the district’s Tax Bureau, said the district’s budget collection progress was on schedule mainly due to the rise in tax collections from real estate transactions with 143 billion VND, and from the car registration fees with 70.7 billion VND.

A worker at the Da Nang Rubber Company

The total of tax collected in Thanh Khe and Son Tra districts had hit more than 500 billion VND and around 500 billion VND respectively as of 23 October.

Mr Nguyen Dinh An, the Head of the Municipal Taxation Department, also pointed out some difficulties facing the city in collecting taxes.

In particular, this year’s estimates for tax collection are higher than last year’s by 22,635 billion VND, a rise of 12.6% against 2017.

In order to fulfil the city’s State budget collection targets, relevant local agencies have been taking more effective measures to prevent tax evasion and handle outstanding debts from now until the end of this year.

Importance is being attached to helping businesses overcome any difficulties relating to tax policies in order to enhance their operations.