Large enterprises in Nghe An reduce budget payment by nearly 200 billion VND

(Baonghean.vn) - Revenue from large enterprises is a major source of revenue for Nghe An's budget, however this year many units are reducing their payments by tens of billions of dong.

Hanoi - Nghe An Beer Joint Stock Company's budget revenue decreased by about 70 billion VND. Photo: Tran Chau

The report of Nghe An Tax Department shows: In the first 11 months of 2017, Nghe An's estimated budget revenue in 2017 reached 10,681 billion VND, equal to 100% of the estimate assigned by the Provincial People's Council.

Specifically, many large enterprises in Nghe An have reduced revenue: Vicem Hoang Mai Cement Company has a revenue shortfall of 88 billion compared to the estimate. The reason the enterprise was granted an extension to pay taxes is because the State budget owes the enterprise.

Telecommunications enterprises such as Viettel Company, Nghe An Telecommunications, VNPT Business Center lost nearly 30 billion VND in revenue due to increased allocation of deductible input VAT, leading to a decrease in payment.

Enterprises under the Construction Corporation 4 switched to the non-state sector, causing a loss of nearly 30 billion in revenue; Thanh Chuong and Yen Thanh tapioca starch companies lost about 5 billion in revenue due to reduced output...

Revenue from 3 Beer Companies is expected to be about 47 billion VND less. Revenue from 2 breweries Saigon - Nghe An and Saigon - Song Lam increased but due to Hanoi Nghe An Beer Company's revenue shortfall of about 70 billion VND due to an estimated decrease in output of about 4 million liters, reducing taxes by about 25 billion VND, and also due to changes in product structure (previously producing 100% of green label canned beer output, in 2017 producing 50% of green label canned beer output and 50% of yellow label canned beer output), so on balance there is still a shortfall of 47 billion VND.

In general, revenue from central state-owned enterprises for the whole year is estimated at only 740 billion VND, equal to 85% of the estimate (shortfall of about 129 billion VND).

In the non-state industrial, commercial and service sector, the expected annual revenue is 4,200 billion VND, an increase of 10% over the same period but only equal to 89% of the estimate (a revenue shortfall of about 529 billion VND).

Estimated budget shortfall from large enterprises is about 200 billion VND.

Pearl