June 23, 2018 21:23

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Budget revenue in 5 months gained a positive growth

14:39 | 11/06/2018

VCN - According to the Ministry of Finance, the state budget revenue in the first five months reached VND 549 trillion , equivalent to 41.6% of the estimate, up 13.6% over the same period in 2017. All revenues have increased compared to the same period in 2017.

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budget revenue in 5 months gained a positive growth State budget revenue in January up 5.2% on year
budget revenue in 5 months gained a positive growth State budget revenue in January 2018 increased by 5.2%
budget revenue in 5 months gained a positive growth
Tax authorities collected more than VND1 trillion through inspections. Photo: Thu Hang.

52 out of 63 localities reach higher revenue

In particular, the domestic revenue in May was estimated at VND70 trillion, VND 25 trillion lower than the previous month, the accumulation in 5 months reached VND 442.77 trillion, accounting for 40.3% of the estimate, up 14.1% over the same period in 2017. Excluding specialized revenues such as land use fees, lottery revenues, dividends and net profits of state enterprises, the domestic revenue was estimated at VND 342.47 trillion, equivalent to 39.5% of the estimate, up 12.2% over the same period in 2017.

The statistics show that from implementing the management of domestic revenue in the past 5 months, the competent forces have conducted over 12,000 tax inspections and tax audits; proposed to collect more than VND 3.2 trillion to the State budget and paid more than VND 1 trillion to the State budget. It was estimated that the country has 51 out of 63 localities reaching the estimate (over 39%), of which 38 localities collected over 43% of the estimate; 52 out of 63 localities reached higher revenue than the same period, 11 localities reach lower revenue than the same period.

Revenue from crude oil in 5 months was estimated at VND 23.7 trillion, accounting for 66% of the estimate, up 22% over the same period in 2017. Based on the oil output paid reaching 5.4 million tons, equal to 47.7% of the plan, the average oil price paid was US$ 70/barrel, up US$20/barrel compared to the estimated price. Revenue from import-export activities reached VND 118.75 trillion, equivalent to 42% of the estimate, up 0.4% over the same period in 2017.

Due to the active and effective implementation of collection measures from the beginning of the year; the strengthening of post customs clearance audit; close coordination with competent forces to control and combat smuggling, trade frauds and counterfeit goods, the General Department of Customs still maintains the budget revenue progress as planned. After reimbursing the value added tax according to the regime (VND 36.28 trillion), the State budget revenue in the first five months was VND 82.47 trillion, equal to 46.1% of the estimate, up 8.8% over the same period in 2017.

Capital disbursement has positive changes

Regarding the state budget expenditure, total expenditure in the five months was VND 526.6 trillion, equal to 34.6% of the estimate, up 9.2% over the same period of 2017. Specifically, the expenditure for development investment reached about VND 94.1 trillion, equal to 23.5% of the estimate, up 23.4% over the same period of 2017; the expenditure for interest payment reached VND50.7 trillion, equal to 45.1% of the estimate, up 12.9% over the same period last year; Regular expenditure reached VND379 trillion, equal to 40.3% of the estimate, up 5.3% over the same period last year.

As of 31st May 2018, the State Treasury system has controlled expenditure at VND 297.464 trillion, accounting for 30.5% of the current expenditure via the State Treasury, thereby detecting about 3,550 expenditures which were not in compliance with the prescribed procedures and regulations and have been requested for the supplementation of necessary procedures; and disapproving to pay about VND 5.2 billion.

Regarding the capital disbursement for capital construction, the disbursed capital in the five months was estimated at VND 94,108,095 billion, accounting for 23.54% of the plan assigned by the National Assembly and 24.5% of the plan assigned by the Prime Minister. The disbursement rate has seen positive changes compared to the first months of the year and was approximately equal to the disbursement rate in the same period of 2017 (21.35% and 24.7% respectively).

However, many ministries, central and localities have low disbursed capital: 37 out of 56 ministries, central, and 21 out of 63 localities have the disbursement rate in 2018 of less than 20%, of which, 23 ministries, central and 1 locality have the disbursement rate of less than 10%.

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Implementing the tasks assigned by the Prime Minister, from the beginning of 2018, the State Reserve Bureau has provided 60,731 tons of national reserve rice without collecting money to support the people on Lunar New Year, crop transfer, pupils in disadvantaged areas and afforestation projects for localities, and aided Cuba with 5,000 tons rice.

By Hong Van/ Huyen Trang