Ho Chi Minh City’s revenues topped VND96.6 trillion (US$4.3 billion) in the first half, with tax revenues from the private sector rising and that from the state sector falling. Saigon Tobacco Company, Novaland, Tan Lien Phat Construction Investment Corporation were among the other major tax payers. Revenues from state-owned firms, especially in the oil sector, declined. PV Oil paid VND31 billion, nearly 89 percent less than last year. The amount was 9.5 percent up year-on-year and around half of this year’s target of VND195.8 trillion, according to the city tax agency.

Source: Thanhnien News July 18, 2016 10:07 UTC