What are sources of revenue of local government budgets in Vietnam?

What are sources of revenue of local government budgets in Vietnam? - image from internet

Pursuant to Article 37 of the Law on State budget in 2015 stipulating sources of revenue of local government budgets in Vietnam:

1. The following revenues are wholly retained by local government budgets:

a) Severance tax, except for that on petroleum exploration and extraction;

b) License tax;

c) Levies on agricultural land;

d) Levies on non-agricultural land;

dd) Land levies, except for land levies mentioned in Point k Clause 1 Article 35 of this Law;

e) Rent for lease of land, water surface;

g) Revenue from lease and sale of state-owned housing;

h) Registration fee;

i) Revenues from lottery;

k) Recovery of investment by local government budgets in business organizations; revenues from distributed dividends and profits of joint-stock companies, multi-member limited liability companies that have state capital and ownership of which is represented by the People’s Committee of the province; revenues from post-tax profit that remains after making contributions to various funds of state-owned enterprises whose ownership is represented by the People’s Committee of the province;

l) Revenues from local financial reserve funds;

m) Revenues from selling state-owned property, including collected levies on land associated to property under the management of local organizations and units;

n) Grant aid provided by international organizations, other organizations, overseas individuals to local governments;

o) Collected charges for services provided by local regulatory agencies. Collected charges for services provided by central public service agencies and state-owned enterprises whose ownership is represented by the People’s Committee of the province may be partly or wholly retained; the remaining amount shall be transferred to state budget as prescribed by regulations of law on fees, charges, and relevant regulations of law;

p) Fees collected by local regulatory agencies;

q) Fines for administrative violations and other fines, confiscations collected by local regulatory agencies;

r) Revenues from property under the State ownership under the management of local regulatory agencies;

s) Revenue from public land and other public benefits;

t) Contributions by other organizations and individuals as prescribed by law;

u) Surplus of local government budgets;

v) Other revenues prescribed by law.

2. Revenues distributed between central government budget and local government budgets are specified in Clause 2 Article 35 of this Law.

3. Provision of additional funding for budget balancing, provision of dedicated additional funding by central government budget.

4. Revenues carried over from last year’s budgets local governments.

Above are regulations on sources of revenue of local government budgets in Vietnam. Please refer to the Law on State budget in 2015 for further information.

Best regards!