HCMC likely to exceed tax revenue target by VND10 trillion
HCMC likely to exceed tax revenue target by VND10 trillion
The HCMC Customs Department is expected to pass its tax revenue target by some VND10 trillion (US$430 million) for this year, thanks to favorable import and export conditions.
The department said in a report that it expected to earn VND10.2 trillion in tax income in October, thereby taking the ten-month revenues to an estimated VND98.6 trillion (US$4.2 billion), or a year-on-year increase of 14.3%.
Compared with the all-year target of VND108.8 trillion (US$4.6 billion), the tax revenues for the ten months will be equivalent to 90.6% of the total.
Therefore, the agency will only need an additional VND10.2 trillion to meet their goal, possibly in November. If successful, the revenue for December would be the surplus amount.
As of late September, the city saw a year-on-year increase of 10.6% in import spending, at more than US$46 billion.
Notably, imports of cars of less than nine seats rose by a whopping 222% from one year earlier to US$212 million, while imports of computers, electronics and their spare parts were up 51.5% to some US$10 billion.
