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

Specifically: The City's budget revenue in the first quarter is estimated at 339.7 billion VND, reaching 15.8% of the year's estimate, down 46.1% over the same period, of which regular revenue is 269 billion VND, reaching 23.5% of the year's estimate and down 11% over the same period; revenue from granting land use rights is 70 billion VND, down 78.6% over the same period.

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

Meanwhile, budget expenditures basically met requirements. Total expenditures in the first quarter reached VND243 billion, reaching 21.5% of the plan, down 4.6% over the same period; of which regular expenditures were VND181.6 billion, reaching 26.3% of the plan, development investment expenditures were VND61.4 billion, reaching 20.5% of the plan assigned by the City, reaching 14.7% of the plan assigned by the Province.

According to Vinh Tax Department, the city's budget revenue decreased due to weak revenue sources and the land auction plan for 2018 has not been implemented. It is expected that in 2018, the city's land fund will be exploited to reach about 600 billion VND.

Currently, Vinh Tax Department is implementing the plan to implement the Province's Anti-Tax Loss Program; strengthening tax management measures, nurturing revenue sources, continuing to implement plans to collect tax arrears; and implementing cost savings./.

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