The FDI sector is the biggest contributor to Hai Duong’s domestic budget and expected to pay 7,700 billion VND by the end of 2024. (Photo: haiquanonline)

From the beginning of 2024 to the end of November, Hai Duong province collected 6,963 billion VND in domestic taxes from the foreign-invested (FDI) sector, 18% higher than the year’s estimate, according to the provincial Tax Department.

The figure is based on high increases in many enterprises’ payments to the budget compared to the same period last year. Typically, Sumidenso Vietnam Co., Ltd. paid up to 184.7 billion VND and Leo Paper Products (Vietnam) Ltd. 53.9 billion VND to the budget.

Unexpected amounts of accrued taxes were also collected through inspection, such as 64.6 billion VND from Proterial Vietnam Co., Ltd. and contractors; over 39 billion VND from Posco Vietnam Processing Center JSC.; 30 billion VND from AP Packaging (Hanoi) Co., Ltd.; and about 28.8 billion VND from UMC Vietnam Electronics Co., Ltd.

The results were achieved thanks to the provincial authorities’ creation of the best conditions for enterprises in terms of tax administrative procedures as well as intensification of inspection and supervision to ensure correct, full, and timely collection of accrued taxes.