HANOI (Vietnam News/ANN): The chairman of Hanoi’s People's Committee has asked the city’s Tax Department to put forward support measures for businesses and a realistic budget collection scenario after assessing the impact of the novel coronavirus (Covid-19) epidemic on the manufacturing and service sectors.
Chairman of Hanoi People's Committee Nguyễn Đức Chung made the statement during a working session with the Hanoi Tax Department on Tuesday about budget collection and solutions to help businesses and taxpayers that suffered losses due to the Covid-19 epidemic.
The Tax Department has proposed four scenarios on reducing State budget revenues this year. Specifically, if the Covid-19 epidemic ends in the first quarter of 2020, the budget revenue is expected to fall by 1.82-2.33 per cent to VNĐ4.2 trillion-4.5 trillion , excluding State budget revenue from land.
Meanwhile, if the epidemic continues until the fourth quarter, the State budget revenue reduction is expected to be 6.48-7.17 per cent to VNĐ15-16.6 trillion.
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