Dong Nai: domestic collection achieves low result

Production of refrigeration components at an FDI enterprise in Nhon Trach Industrial Zone - Dong Nai. Photo: N.Hiền

In that, the domestic collection was 20,220 billion vnd, achieved by 60% compared to current appropriation and increased by 8% over the same period; collecting 10,500 billion vnd from export activity, achieved by 71% compared to current appropriation, increased by 4% over the same period.

There are some main reasons leading to the low domestic collection. Many businesses that have a large source of revenue, reduce in budget payment over the same period, such as electric enterprise, oil, and gas, telecommunications enterprises, Bien Hoa Steel Company, sugar companies, Dong Nai Rubber Company, ...

Additionally, the revenue collection from foreign investment enterprises (FDI) is not much, although the number of foreign enterprises operating in the area has increased annually, the budget payment is negligible as most are export enterprises (not paying VAT), the duration of corporate income tax incentives lasts for many years; Some enterprises offset the overpaid tax due to the extended investment incentives for the period 2009-2013.

In terms of budget expenditures, total local budget expenditure in 9 months was estimated at 12,335 billion vnd, achieving 63% of the adjusted appropriation, rose by 13% over the same period. In that, expenditure for investment development was 4,500 billion vnd, achieved by 62% of the adjusted appropriation, increased by 38% over the same period; Regular expenditures were 7,820 billion vnd, accounting for 65% of the current appropriation, increased by 14% over the same period.