An intersection in HCM City (Photo: VNA)
HCM City (VNA)
Budget collection has become a bright spot of Ho Chi Minh City’s economy in
2021 when it surpasses the year’s target despite severe impacts of the COVID-19
The southern economic hub recorded an estimated 370.483 trillion VND (16 billion USD) in budget revenue this year, equivalent
to 101.3 percent of the target, according to a resolution issued by the
municipal People’s Council on December 9.
Basing on that result, HCM
City targets next year’s budget revenue at 386.568 trillion VND, up 5.9 percent
from the 2021 target and 4.3 percent from the figure obtained this year.
Vice Chairman of the
municipal People’s Committee Le Hoa Binh said the fourth wave of COVID-19, with
a prolonged social distancing period, has seriously affected every
socio-economic aspect, particularly businesses’ operations and people’s life.
To assist enterprises, local
authorities have reduced taxes and extended tax payment deadlines. As a result,
the budget collection has gradually decreased since May. Notably, the revenue
dropped strongly year on year in August and September.
Facing that fact, relevant
agencies have worked to support businesses and people. Besides, the positive
business results of real estate and financial - banking firms in the year’s
first half and effect of the tax payment deadline extension have helped boost
the budget collection in 2021, Binh noted./.