As of 5:00pm on December 31, 2021, the total State budget collection in Da Nang reached VND22,629 billion, representing 103.94% of the estimates set for the year by the municipal City Council.

Municipal Party Committee Deputy Secretary cum People's Council Chairman Luong Nguyen Minh Triet and municipal Party Committee Deputy Secretary cum People's Committee Chairman Le Trung Chinh co-chaired the event

In detail, domestic revenue was VND 17,406 billion, equivalent to 95.68% of the estimates. Domestic tax collections, excluding those from land use fees and lottery activities, for instance, stood at VND14,840 billion, reaching 100.76% of the city's estimates. Taxes on imports and exports exceeded by 44.92% of the estimates to hit VND5,145 billion.

The figures were released by Director of the Da Nang State Treasury Phan Quang Thong at the event to announce the closing of the State budget book in the city in 2021.

Chairman of the municipal People's Committee Le Trung Chinh (fourth, right) presenting a basket of flowers to congratulate the city's financial sector on completing its budget collection and expenditure tasks in 2021. Photo: M. QUE

Organized by the city's State Treasury, the event was co-chaired by municipal Party Committee Deputy Secretary cum People's Council Chairman Luong Nguyen Minh Triet and municipal Party Committee Deputy Secretary cum People's Committee Chairman Le Trung Chinh.

Director of the municipal Department of Finance Nguyen Van Phung pointed out the brightest spot in this year's budget collection was that taxes on imports and exports was much higher than the estimates assigned by the municipal People's Council (by 45%) and the budget balance was guaranteed. Specifically, by the time of closing the budget book, the city's budget balance was VND14,941 billion, thereby ensuring recurrent and important spending tasks for 2022.

In his remarks at the event, Deputy Secretary Triet acknowledge the great efforts made by the district-level People's Committees and financial agencies over the past year.

He added Da Nang is looking forward to recording its budget collection totals of VND 19,635 billion in 2022. Despite not being too high as compared to 2021, the still complicated and unpredictable developments of COVID-19 may affect the budget collection results. Therefore, he urged financial agencies and district-level People's Committees to avoid being subjective and further promote the achieved results.

Deputy Secretary Triet also suggested the municipal People's Committee continue to direct relevant departments and agencies to remove obstacles and difficulties relating to land revenues, as well as support city-based businesses to restore production activities soon.

He also asked financial agencies such as departments of Taxation and Customs to perform their financial operations well in 2022 and for years to come in a bid to ensure the task of budget collection.

Reporting by MAI QUE - Translating by MAI DUNG