(HBO) - According to the provincial Department of Taxation, the State budget collection in the first two months was estimated at 420 billion VND, reaching 10 percent of the estimate assigned by the government and 9 percent of the target set in the provincial People’s Council’s resolution, and equal to 96 percent of the collection in the same period last year.
The increase in
State budget collection helps promote socio-economic development. Photo:
A corner of Hoa Binh city.
Revenues from taxes and fees (excluding land use
fees) hit 350 billion VND (13 percent of assigned target, 12 percent of
provincial target and 84 percent of the figure for the same period last year).
Land use fees totaled 70 billion VND (5 percent of assigned target, 4 percent
of provincial target and 363 percent of the figure of the same period last
Notably, 11 out of the 17 State budget revenue
sources showed increases this year, including land use fees (263 percent),
fixed revenues in communes (86 percent), fees from granting rights to mineral
exploitation (59 percent), non-agricultural land use tax (31 percent), lottery
(24 percent), personal income tax (11 percent), and environmental protection
tax (17 percent). Tax collection from local State-run businesses was up 100
The taxation department will propose measures to
the provincial People’s Committee on reforming mechanisms, policies and administrative
procedures to encourage and attract investment, develop business production,
promote economic growth, thus creating more revenue sources for the State
It will coordinate measures to implement more
effectively policies of the government and provincial People’s Committee on
stabilizing macro economy, increase support for businesses, promptly remove
their difficulties, and facilitate business and production activities.
The department will step up measures to prevent budget
collection loss, contributing to curbing inflation, maintaining macroeconomic
stability and ensuring social welfare. It will also push ahead with the
modernization of tax management alongside with administrative procedure reform.
In March, the taxation sector aims to collect
350 billion VND for the local State budget to increase the three-month revenue
to 770 billion VND, meeting 18 percent of assigned target, 16 percent of
provincial target and a year-on-year rise of 6 percent, according to Nguyen Anh
Tuan from the Taxation Department./.
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Despite FDI shown signs of a slowdown as a result of the negative impact of COVID-19, experts believe that the nation will be able to welcome an array of fresh dual investment after the pandemic.
(HBO) – The complicated developments of COVID-19 have seriously affected all social aspects, especially economic development. Growth decline was recorded in many fields. In the first quarter of 2020, the gross regional domestic product (GRDP) was estimated at 6.62 percent. The figure is projected at 4.57-5.86 percent in the second quarter due to the impact of the pandemic on business and production activities.
(HBO) – Numerous efforts made in the first months of the year have contributed to the 6.6 percent increase in the aquatic product output of Hoa Binh province. The province is home to 43 aquaculture farms and cooperatives, of which 13 are specialised in farming. The aquaculture farming areas in the province span 2,686ha, with 4,630 fishing cages.
(HBO) – Hoa Binh farm produce trademark has become popular in recent years. It is the result of concerted efforts, including biotechnological application in agriculture.
(HBO) – The Bank for Agriculture and Rural Development in Yen Thuy district, Hoa Binh province, simplified lending procedures, reformed lending model and methods and coordinated with communes, towns, associations of farmers and women, and other socio-political organisations to roll out favourable lending methods during the first quarter of this year.