Luang Prabang province hopes to net over 200 billion kip

Luang Prabang province hopes to net over 200 billion kip

Luang Prabang province recorded 77.6 billion kip in income for the first six months of this fiscal year, while the total target is 225.28 billion kip for the fiscal year.

“The 77.6 billion kip represented only about 34.45 percent of the fiscal year plan,” an official of the Luang Prabang provincial finance department, Ms Bouachin Chanthaphone, said.

This fiscal year the provincial government's income will be mainly from business tax and duty collections, including land tax that is set at about 199.9 billion kip. “However the province could only manage 68.2 billion kip in the first six months and that is about 34.11 percent of the plan,” she said.

The earnings also included revenue f rom the second regional customs zone collection of about 2.6 billion kip in the first six months while the whole fiscal year plan is about 5.9 billion kip; and earnings from border check points was 76.16 percent of the plan that was set at about 2.8 billion kip.

Income for the provincial government also included that from asset management and state business operations of about 7.2 billion kip in the first six months while the total fiscal year plan is 22.4 billion kip.

She said that the provincial revenue in the first six months did not meet the plan; however the province will try to work harder in the last six months and are targeting more than 112.6 billion kip to ensure they surpass the total figure for the fiscal year plan.

Auth orities are targeting at least 95 billion kip from business taxes and duty collections, 4.5 billion kip from land tax, asset management and financial management of state enterprises is planned to generate about 11.2 billion kip and 250 million kip respectively, and the earnings from border check points are planned to net about 7.4 billion kip.

vientiane times