Vientiane province rakes in 35 billion kip revenue surplus

Revenue collection in Vientiane province has reached 168 billion kip for fiscal year 2010-2011, surpassing by 35 billion kip the government's target of 133 billion kip.

In an interview with local media in Vientiane province, the Head of the provincial Finance Department Mr Daohouang Nanthavong said the surplus would be used to restore infrastructure damaged in this year's flooding and to pay off investment debts.

In past years the province has racked up investment debts of 150 to 160 billion kip.

“The reason for the increase in revenue last fiscal year is because our authorities were much more industrious in coordinating with customs to prevent illegal goods trafficking. We also collected over 20 billion kip in monthly salary tax from mining and hydropower companies,” Mr Daohouang said. Other main sources of revenue were taxes, which yielded more than 152 billion kip, land taxes which yielded 8 billion kip, state asset taxes worth 5 billion kip, state enterprise taxes that amounted to 947 million kip, and other fee collections worth over 2 billion kip.

vientiane times

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