Champassak falls short of revenue target

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Champasak province has collected revenues of 607.91 billion kip or 39.20 percent of its annual target for the first six months of the fiscal year, a senior finance official has said.

The Director of the provincial Finance Department, Mr Somboun Heangvongsa, recently revealed that for fiscal 2019-2020, the department received revenues of 1,557 billion kip from the government, including 742.20 billion in central revenues, but the department collected revenues of only 607.91 billion kip or 39.20 percent of its annual target for the first six months of 2020.

This marked a reduction of 13.27 percent, when compared to the same period last year.
The department also collected more than 370.47 billion kip in central revenues, or 39.20 percent of the annual target, a reduction of 6.33 percent compared to the same period last year.


The department collected 237.44 billion kip in local revenues or 29.71 percent of the annual target, a fall of 32.65 percent compared to the same period last year.

Mr Somboun said the department was unable to collect revenues as planned as many businesses and companies have been heavily impacted by the Covid-19 pandemic, and were unable to pay taxes and fees to provincial authorities.

The department also incurred expenditure worth 230.24 billion or 30.45 percent of the annual target, a reduction of 31.32 percent compared to same period last year.
The expenditure was incurred mostly within the province by five districts and seven departments.

In the last six months of the fiscal year, the department will focus on supervision of revenue and debt collection and also help district offices collect revenue according to their targets.