Ho Chi Minh City has over 305,000 active enterprises

From the start of the year until November 31, there were 49,422 newly registered enterprises while another 41,501 existing enterprises were dissolved, it added.

In the first eleven months of 2019, the HCMC tax service handled 2,275 tax refund files, with VND12.584 trillion (US$543 million) worth of rebates approved.

Refunds for export duties accounted for the largest share of rebates with 88.35% while the rebates on investment and procurement of fixed assets totalled at 8.96%. Rebates from oil accounted for 2.35%, and other cases made up 0.33%

In November alone, the municipal tax department refunded VND1.293 (US$55.8 million) to taxpayers.