Over 12,000 Hanoian businesses sink in 2012

The economic recession has killed 12,249 enterprises in Ha Noi this year and had a severe impact on State Budget revenue, according to the city's People's Committee.

These included 420 that dissolved and 5,273 that halted business activities.

When declaring corporate income tax, 57,866 enterprises in Ha Noi posted losses, accounting for 71 per cent of those that submitted tax declarations.

Municipal authorities are working with police to collect outstanding taxes.

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