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Sunday, July 14, 2024

Danang achieves 70.3% of 2024 budget revenue target in H1

The Saigon Times

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HCMC – Danang City’s budget revenue reached 70.3% of its 2024 target in January-June, with domestic revenue hitting 76% of the assigned goal.

This achievement is significant given global economic challenges and the sluggish domestic real estate market. The city has bolstered its financial resilience and stability.

Danang authorities had anticipated fiscal challenges in 2024 due to adverse global economic conditions and the stagnant real estate sector.

However, since the beginning of the year, the city has implemented strong measures for budget management, assigning specific responsibilities to departments and localities.

Pham Duc Thuong, director of the Danang Tax Department, reported 738 tax inspections in the first half of 2024, resulting in recommended fines totaling VND469.2 billion.

In an effort to recover tax debts, the department focused on businesses owing VND100 million or more, yielding over VND3.6 trillion in recovered tax debts within the first half of the year. This sum includes nearly VND1.3 trillion of tax arrears from the previous year and over VND2.3 trillion accrued during the current year.

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