(HBO) – Land use levy accounts for the lion’s share of Hoa Binh province’s state budget revenue for years. The money has been used to develop local infrastructure, creating a momentum for socio-economic development.

 Revenue from land auction is invested in developing the central area of Quynh Lam ward, Hoa Binh city.

In recent years, competent sectors and departments in Hoa Binh city have paid special attention to the collection of land use levy. Right from the outset of the year, the taxation bureau has joined hands with relevant authorities, districts and city to manage this source of revenue.

This year, the taxation bureau of Hoa Binh is assigned by the Government to collect 1.5 trillion VND (65 million USD) in land use levy. Meanwhile, the figure set by the provincial People’s Council was 1.7 trillion VND.

With 101 projects operating in the locality, Hoa Binh projects to gain more than 4.4 trillion VND from land use levy.

According to Nguyen Anh Tuan, deputy head of the province’s taxation bureau, as of April 30, domestic collection was over 1.14 trillion VND, accounting for 27.6 percent of the yearly estimate approved by the National Assembly, 23.8 percent of estimate adopted by the provincial People’s Council, and 121.3 percent of the figure recorded in the same time last year.

In May, the province gained some 52.3 billion VND from land use levy, or 304 percent of the figure documented in the same time in 2020./.

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