Vinh City's budget revenue in the first quarter decreased by 46% compared to the same period last year.

Specifically: City budget revenue in the first quarter is estimated at 339.7 billion VND, reaching 15.8% of the annual budget forecast, a decrease of 46.1% compared to the same period last year. Of this, regular revenue is 269 billion VND, reaching 23.5% of the annual budget forecast and decreasing by 11% compared to the same period last year; revenue from land use rights fees reached 70 billion VND, a decrease of 78.6% compared to the same period last year.

Adding more resettlement areas is a solution to increase the city's budget revenue. Photo: Tran Chau

Meanwhile, basic budget expenditures met requirements. Total expenditures in the first quarter reached VND 243 billion, achieving 21.5% of the plan, a decrease of 4.6% compared to the same period last year; of which recurrent expenditures amounted to VND 181.6 billion, achieving 26.3% of the plan, and development investment expenditures amounted to VND 61.4 billion, achieving 20.5% of the City's assigned plan and 14.7% of the Provincial's assigned plan.

According to the Vinh City Tax Department, the city's budget revenue decreased due to weak revenue sources, in addition to the fact that the 2018 land auction plan has not yet been implemented. It is projected that the city's land exploitation in 2018 will generate approximately 600 billion VND.

Currently, the Vinh Tax Department is implementing the province's tax evasion prevention program; strengthening tax management measures, nurturing revenue sources, continuing to implement plans to recover outstanding tax debts; and implementing cost-saving measures.

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