Hai Duong socio-economic picture in first half of 2024. Article 3: Breakthrough in budget revenue

Total State budget revenue in Hai Duong province in the first half of 2024 was estimated at 14,764 billion VND, meeting 75% of the year’s plan and surging by 41% year on year.

In particular, domestic revenue amounted to 12,800 billion VND, equivalent to 76% of the year’s plan and up 50% over the same period in 2023.

Revenue from import-export activities neared 1,924 billion VND, reaching 71% of the year’s plan and 4% higher than the same period last year.

Revenues from profits and dividends and from granting of mineral exploitation rights exceeded estimates for the whole year because a number of businesses paid higher payments than expected.

Many sources posted high revenues. Notably, the foreign investment sector contributed 4,059 billion VND, completing 69% of the year’s estimate and up 7% year on year.

Revenue from land use fee collection reached some 3,750 billion VND, meeting 81% of the year’s estimate and nearly 3.2 times higher than the same period last year.

Revenue from the non-State-owned industrial, commercial and service sector was estimated at 2,400 billion VND, accomplishing 89% of the year’s estimate, a surge of 59% compared to the corresponding period last year.

“Despite many difficulties, our company always strives to make proper and timely payments to the budget. This also aims to create a basis for brand development and affirm the position of our business," said Le Van Dinh, Chairman of the Board of Directors of Thanh Cong Group JSC.

Total State budget revenue in the province in 2024 is expected to exceed 27,169 billion VND, an increase of 38% compared to the estimate at the beginning of the year. In which, revenues from domestic taxes and import-export activities are estimated at 24,300 billion VND and more than 2,789 billion VND, up 44% and at least 3% over the year’s estimates, respectively.

If this goal is successfully achieved, 2024 will be the year Hai Duong has the best budget collection result ever.

Policies to support businesses in difficulties will be enhanced this July, such as extension of the payment of corporate income tax, value-added tax, and land rental.

“Though not large, the amount of money saved through tax exemption and reduction policies has helped enterprises and business households have more capital to maintain production and business and overcome difficulties, creating momentum for economic growth and nurturing State budget revenue,” said Nguyen Trong Tien, Deputy Director of the provincial Taxation Department.

The provincial People's Committee has directed local authorities and tax and customs sectors to closely follow the collection progress, specifically evaluate and analyze each collection area and each kind of tax to promptly work out a plan to direct and manage revenue collection, and take drastic and synchronous collection measures, striving to collect the highest 2024 budget revenue.

Next article: Health and education development a priority policy

THANH LONG