The state budget revenue is estimated to top VND 25,760 billion in 2024, equivalent to 133.3% of the estimate assigned by the Da Nang People's Council and up 19.9% ​​year-on-year. Of this figure, domestic revenue is expected to reach VND 22,500 billion, equivalent to 142.5% of the estimate and up 23.4% against 2023, whilst the import-export tax revenue is likely to be VND 3,200 billion, equal to 91.4% of the estimate and up 0.4%. This positive result is mainly attributed to the great efforts made by authorities at all levels, and the great determination of people and businesses, in achieving growth targets from the beginning of the year.

Production activities at the Trung Khoa Printing Company Limited. Photo: M.QUE

Domestic revenue records high results

According to the latest report released by the Da Nang Tax Department, 14 out of the 16 domestic tax revenues and taxes recorded significant increases compared to the same period. In particular, revenue from 3 economic sectors (State-owned enterprises, foreign-invested enterprises and non-state enterprises) was VND 12,170.4 billion, reaching nearly 150% of the estimate and equivalent to 130% compared to the same period.

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

In addition, changing the product structure of many companies such as focusing on producing high-value products and increasing processing output, is also one of the factors contributing to increasing State budget revenue.

Revenue from taxes, fees and others was VND 8,729.6 billion. Some taxes increased sharply. Specifically, the total personal income tax valued at VND 3,200 billion, reaching 140.4% of the estimate and equal to 132.9% compared to the same period; the environmental protection tax VND 1,200 billion, reaching 112.7% of the estimate and equal to 105.3% compared to the same period; the registration fee VND 960 billion, reaching 128.9% of the estimate and equal to 126.2% compared to the same period.

The effectiveness of the policy of extending entry visas for international visitors, the implementation of tourism stimulus programmes and the efforts of authorities at all levels, are considered main factors for the increase in revenue.

Thanks to that, transportation activities maintained a positive growth rate against 2023. Means of road transportation continued to maintain a fairly good growth in both passenger and freight transport, thereby meeting the travel needs and serving the production of the people.

Collection from land use fee was VND 1,600 billion, reaching 84.2% of the estimate and equal to 115.1% over the same period. The reason for the increase was due to additional land use fees paid due to land price re-determination.

According to the city’s Customs Department, the import-export situation in the city has progressed positively, as shown by the increase in import-export turnover compared to the same period in 2023, but the turnover of taxable goods groups increased and decreased unevenly.

Moreover, in the revenue structure of the Customs Department, value added tax accounts for a large proportion (nearly 67%), so continuing to implement the policy of reducing value added tax by 2% reduces import-export tax revenue.

The city's customs sector answers questions for businesses, thereby promoting effective budget collection. Photo: M.QUE

Efforts for better results

According to the assessment of the municipal Tax Department, domestic revenue excluding land use fees in 2024 is estimated to reach 150.5% of the estimate and equivalent to 124.1% 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, prevented revenue loss, recovered tax arrears, and monitored the use of electronic invoices and tax declarations of enterprises, especially key enterprises and high-risk enterprises in some fields and industries.

Mr. Luu Duc Sau, Deputy Director of the municipal Tax Department, said that the domestic revenue for Da Nang in 2025 is expected to be VND 22,295 billion assigned by the Central Government, of which land use fees will be VND 2,400 billion.

To strive for the domestic revenue target in 2025, the unit regularly monitors the production and business activities of local enterprises to analyse and evaluate each revenue item and tax.

At the same time, the tax sector strengthens management measures, exploits revenue sources for a number of areas with large potential, prevents budget losses for a number of areas with tax risks such as real estate business, e-commerce business activities, and business on digital platforms, etc.

Mr. Quach Dang Hoa, Director of the city’s Customs Department, said that in order to create positive changes in budget collection, aside from supporting and removing difficulties and obstacles for businesses at dialogue conferences of the municipal People's Committee and departments, branches and sectors, the Customs Department actively conducts dialogues to provide information on new policies, remove obstacles for businesses, and encourage individuals, organizations and businesses to cooperate, share and accompany.

At the customs branches under the municipal Customs Department, many solutions to facilitate trade and increase budget revenue have been and are being implemented. In the coming time, the Customs Department will continue to review, analyse, and evaluate to select enterprises that meet the conditions of the programme "Pilot support and encouragement for enterprises to participate in import and export activities in Da Nang" to mobilize enterprises to participate.

Reporting by MAI QUE - Translating by M.DUNG