The reason for this is because Thu Duc City has just been established by merging District 2, District 9, and Thu Duc District.
Previously, HCMC assigned District 2 to collect more than VND3.83 trillion, District 9 more than VND2.24 trillion, and Thu Duc District more than VND2.25 trillion.
After canceling the 2021 State budget revenue and expenditure estimates for districts 2, 9, and Thu Duc City, Ho Chi Minh City entrusted a budget revenue estimate of nearly VND8.33 trillion and budget expenditure of more than VND3.15 trillion for Thu Duc City in 2021. The additional amount from the HCMC budget to the budget of Thu Duc city is VND1.99 trillion. Thus, the target of State budget revenue and expenditure in 2021 for Thu Duc City, the total revenues, total expenditures, and total additions from the city budget for the district budget in 2021 will not change.
The delegates also passed a Resolution on the assignment of revenues and expenditures for Thu Duc City and the percentage of revenues shared among budgets of all levels in Thu Duc City in 2021.
Specifically, in the budget revenue of Thu Duc City, the State budget revenues that Thu Duc city is entitled to 100 percent are natural resource tax of enterprises and cooperatives under the authority of the taxation agency of Thu Duc City, except natural resource taxes collected from oil and gas exploration and exploitation; agricultural land use tax, except agricultural land use tax collected from households; business-license tax of enterprises and cooperatives under the authority of the taxation agency of Thu Duc City, except business-license taxes collected from individuals and business households; land registration fee in Thu Duc City.
The revenues divided by the percentages between the central budget, the HCMC budget, and the Thu Duc City budget, include value-added tax collected from the non-state industry, trade, and service sector by Thu Duc City’s taxation agency; corporate income tax collected from non-state industry, trade, and service sectors by Thu Duc City’s taxation agency; late payment arises from the revenues divided by the percentages between the central budget, the HCMC budget, and the Thu Duc City budget. The specific division rate is the central budget 82 percent, HCMC budget zero percent, and Thu Duc city budget 18 percent, respectively.
Particularly, the revenue of agricultural land use tax collected from households is divided between the Thu Duc City budget and the ward budget following the proportion of 80 percent of Thu Duc City budget and 20 percent of the ward budget.
By Mai Hoa, Manh Hoa – Translated by Gia Bao