August 19, 2018 00:42

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December: Must collect 162 trillion VND to reach the budget estimate

15:20 | 07/12/2017

VCN- According to the Ministry of Finance, total State budget revenue in November is estimated at 104.3 trillion VND. Thus, after 11 months, the revenue reached 1,077.3 trillion VND, equal to 88.9% of the estimate, 86.9% of performance for the whole year as reported to the National Assembly, and up 14.5% compared to the same period for 2016.

december must collect 162 trillion vnd to reach the budget estimate
Domestic revenue increased 14.6% over the same period in 2016. Photo: H. Van.

Domestic revenue was 86.8%

In particular, for the revenue structure, the report of the Ministry of Finance showed that the domestic revenue for eleven months reached 859.2 trillion VND, equaling 86.8% of the estimate, up 14.6% over the same period last year. It was estimated that 49 out of 63 localities collected over 89% of the estimate (of which 36 localities were over 95%) and 59 out of 63 localities collected more than for the same period in 2016, and 4 localities collected less than for the same period.

Revenue from crude oil reached 42.4 trillion VND, equal to 110.7% of the estimate, and up 16.5% over the same period in 2016 due to crude oil prices paid by Vietnam of about US$58/barrel on average in November. Cumulative revenue from the beginning of the year reached about US$ 54.4/barrel, up US$ 4.4/barrel over the estimated price. The oil output was estimated at 1.28 million tons in the month and 11.6 million tons in the first eleven months, equal to 102.6% of the plan.

Collection from the import-export activities reached 262.4 trillion VND, equal to 92.1% of the estimate, up 9.3% over the same period in 2016. After refunding the VAT of nearly 91.3 trillion VND under the regulations, the State budget balance revenue from the import-export activities accounted for 171.1 trillion VND, equal to 95.1% of the estimate, up 13.8% over the same period last year.

In order to reach the revenue for the whole year as reported to the National Assembly, the task of collection is still very hard (about 162 trillion VND, an increase of nearly 64 trillion VND compared with the same 11 month period last year), and especially the central budget revenues (11 months has just reached 81% of the estimate, approximately the same period in 2016).

Over the past time, the Ministry of Finance has concentrated on directing the Tax and Customs agencies to resolutely implement the measures to manage the collection and combat the losses; enhance the inspection and examination of taxes at the enterprises and step up the anti-price transfer, and anti-smuggling and trade fraud activities.

In addition, the Ministry of Finance has also continued to review and submit to the competent authorities for consideration, amendment, supplementation or promulgation of the policies on revenue collection in line with the actual situation and the integration commitments. Such as, submitting to the Prime Minister for consideration and amendment of the six current Tax Laws, including: The Law on Enterprise Income Tax, the Law on Personal Income Tax, the Law on Excise Tax, the Law on Value Add Tax, the Law on Environmental Protection and the Law on Natural Resource Tax.

Low over-expenditure

On the State budget expenditure, total state budget expenditure of 11 months reached 1,136.3 trillion VND, equaling 81.7% of the estimate, up 8.3% over the same period in 2016.

Of which, the development investment expenditures were 224.6 trillion VND, equaling 62.9% of the estimate, up 15% over the same period of 2016, with the expenditure which was compensated the difference between the credit interest rate and the State policy, it reached 100% of the estimate. The interest debt payment was 86.5 trillion VND, equaling 87.5% of the estimate, up 13.5% over the same period in 2016, ensuring payment of due-debt obligations were committed on time. The Regular expenditure was 819.3 trillion VND, accounting for 91.4% of the estimate, up 6.6% over the same period last year; Especially, the funding for successful organization of APEC 2017 were ensured and 2.1 trillion were supported for the localities to overcome damages caused by typhoon No. 12 and heavy rain and flood in the middle of October, 2017.

Disbursement of construction investment capital for 11 months reached 62.4% of the estimate, including: the State budget investment capital reached 67.9% of the estimate; the newly disbursed Government bond capital was about 6.4 trillion VND, equal to 17.7% of the estimate. In addition, the Government bond capital planned in 2016, which was transferred to 2017 according to the resolution by the National Assembly, has disbursed 6.9 trillion VND, this being equivalent to 40% of the transferred funds (17.28 trillion VND).

By the end of November 2017, the Central budget over-expenditure was about 80.7% of the estimate; the local budget revenue was greater than expenditure. To ensure saving expenditure, right at the beginning of the year the Ministry of Finance guided the ministries, the central and local agencies and the budget-using units: to organize the operation and management of the expenditure targets in in line with the assigned estimate and in accordance with the prescribed regulations, and not to promulgate new policies and regimes which increase the State budget expenditures without securing sources. Also: to make the maximum reduction, publicize the expenses for organizing the conferences, the seminars and the ceremonies, and to restrict the arrangement of expenditures for studies and surveys aboard.

Along with that, they would review and submit to the competent authorities for consideration and amendment of policies and regime of the State budget expenditure; continue guiding the centralized purchasing of assets, and request the ministries, branches and localities to review and report on rearrangement of public cars and handling of redundant vehicles. On that basis, to submit to the Prime Minister for mechanism modification of using public vehicles in the direction of expanding control of public vehicle use. To report to the Prime Minister on the management and use of the proceeds from rearrangement of houses and land and the proceeds from the old positions when relocating.

At the same time, stepping up the work of financial and budget inspection, detecting, rectifying and handling promptly the errors in the process of managing and using the State budget.

The Tax authorities conducted inspection and examination over 83,700 enterprises; hence, handled to increase the tax collection of 16.1 trillion VND, up 18.2% over the same period last year; Urged and coerced to collect about 39.9 trillion VND of tax debt in 2016 transferred to 2017, up 14.2% over the same period last year.

The Customs agencies carried out over 6.9 thousand post-clearance inspections, increased State budget revenue was 1.7 trillion; Detained and arrested 12.5 thousand cases of smuggling and trade fraud, the value of violation goods was about 536.2 billion VND; collected to the State budget was about 291.6 billion VND.

By Hong Van / Binh Minh