Da Nang’s total domestic revenue in the first 9 months of 2024 stood at VND 16,942.6 billion, representing 107.3% of the year’s estimates and 134% compared to the same period in 2023. Thus, the domestic budget collection completed 3 months ahead of the initial schedule. This positive result is mainly attributed to the great efforts made by authorities at all levels, and strong determination of local people and businesses.

Production activities at Daiwa Vietnam Co., Ltd. (Lien Chieu district). Photo: M.Q

Main taxes increase significantly compared to same period

As of September 30, 13 out of the 16 domestic revenues collected from taxes had increased significantly compared to the same period last year. Of which, revenues collected from three economic sectors (State-owned enterprises, foreign-invested enterprises and non-State economic sector) reached VND 8,919.7 billion, representing 109.8% of the year’s target and 144.5% year-on-year.

The reason for the increase in revenue is that the production and business activities of economic sectors in the city are gradually regaining growth momentum. Trade and tourism activities are taking place vigorously with many stimulus programmes being implemented simultaneously, attracting a large number of local people and tourists to Da Nang.

In addition, the change in product structure with focus on producing high-value products and increasing processing output is one of the factors contributing to the increase in State budget revenue.

Revenues collected from taxes, fees and other budget revenues was VND 6,840.6 billion, reaching 118.6% of the estimate and 120.4% in comparison with the same period.

The reason for the increase in revenue is mainly due to the effectiveness of the policy of extending tourist e-visas for international visitors, and tourism stimulus programmes, as well as the great efforts of authorities at all levels. As a result, tourism activities in the city are increasingly flourishing and attracting a large number of international visitors.

Specifically, the fee for visa issuance and documents allowing immigration and residence for foreigners was VND 147.6 billion, an increase of VND 66.9 billion over the same period.

Transportation activities maintained a positive growth rate compared to the same period in 2023. Road transport continued to maintain a fairly good growth momentum in both passenger and freight transport, thereby meeting the travel and production needs of the people. The output of gasoline, oil, grease and jet fuel consumed in the first 9 months of 2024 was 688.9 million liters, a rise of 42.4 million liters over the same period.

Land use fee collection in the first 9 months of 2024 was VND 1,182.4 billion, equal to 62.2% of the estimate and 150.4% over the same period. The reason for the increase in revenue is due to additional land use fees paid due to re-determination of land prices.

Striving to achieve the best results

According to the municipal Tax Department, domestic revenue excluding accumulated land use fees between January and September reached 113.5% of the estimate and 133% over the same period, which shows that the city's production and business activities have had positive changes.

At the same time, the tax authority has stepped up inspection and examination activities, including combating revenue loss, recovering tax arrears, and monitoring the use of e-invoices and tax declarations of enterprises, especially key enterprises and businesses with high risks in a number of industries and professions.

However, to ensure the completion of the 2024 budget revenue estimate by 5-7% compared to the actual revenue in 2023 assigned by the municipal People's Council, the municipal Tax Department is striving to implement a number of key solutions.

Mr. Luu Duc Sau, Deputy Director of the municipal Tax Department, said that the tax sector has concentrated on exploiting revenue sources, and implementing measures to combat revenue loss, and increase revenue for industries and professions with tax risks according to Plan No. 57/KH-BCĐ dated June 25, 2024 of the Steering Committee for combating state budget revenue loss and recovering tax arrears in the 2024-2025 period in the city.

At the same time, the city’s Tax Department coordinates with the municipal Department of Natural Resources and Environment to review and speed up the progress of some projects to increase revenue from land use fees, and ensure the completion of the central budget estimate.

In addition, the tax sector continues to simplify administrative procedures, strengthen guidance and support for taxpayers to conduct administrative procedures with tax authorities electronically, and improving the quality of public service provision.

Reporting by MAI QUE - Translating by M.DUNG