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Domestic revenue: Many localities achieve good results

08:21 | 28/10/2016

VCN- According to statistics of the General Department of Taxation, by the end of September 2016, the revenue of most localities had increased over the same period last year, with more than 80% of this year’s estimate. 

thu noi dia nhieu dia phuong dat kha Customs makes every effort to collect revenue
thu noi dia nhieu dia phuong dat kha Ha Noi Customs focuses on solutions to reduce State budget losses
thu noi dia nhieu dia phuong dat kha Collecting more revenue from Tax inspections and auditing
thu noi dia nhieu dia phuong dat kha
There are 46 provinces in the total of 63 on schedule with revenues of more than 75%. Photo: Thu Hang.

Compared to the estimate, the total domestic revenue in the first 9 months of 2016 of many localities had good results, with 46 provinces in the total of 63 on schedule with revenues of more than 75%, and 30 provinces in the total with revenues of more than 80%. According to the General Department of Taxation, the main cause is an increase in land use fees of these provinces in the first 9 months of 2016. However, there are still 17 provinces at a low level with revenues less than 75%.

According to Taxation statistics, when excluding land use fees, the progress of domestic revenue is relatively slow, only 36 provinces in the total of 63 have revenues of more than 75%. On the top of the list of localities with revenues of more than 80% are Thai Nguyen, Quang Nam, Thai Binh, Hau Giang, Ha Nam, Bac Lieu, Kien Giang, Soc Trang. There are 27 provinces with revenues below 75%. Thus, there is a need to strengthen the management, exploitation and increase revenue through accelerating the progress of revenue tasks as requested by the Ministry of Finance and the General Department of Taxation, contributing to the accomplishment of assigned tasks.

Notably, in provinces with low revenues, Ba Ria - Vung Tau is a typical example with the revenue of 50% of the estimate. For this situation, the General Department of Taxation said that because the price of oil and petroleum dropped dramatically over the same period last year (a decrease of $US 18.6 per barrel compared to the estimate, and a decrease of $US 17.7 per barrel compared to the same period last year), there was a negative impact on revenues from petroleum processing and trading, the sale of crude oil, companies operating in the field of oil services, and contractors or subcontractors in the field of exploration of oil and petroleum, which reduces personal income tax collection.

On the list of localities with decreasing revenues, by the end of September 2016, Quang Ngai province had only reached 56.4% of the estimate, also due to a drastic decrease in the price of crude oil and petroleum. In addition, from March 17, 2016, the import duty for DO oil declined from 10% to 7%, resulting in the revenue of the Dung Quat factory only reaching 51.2% of the estimate, a decrease of 55.1% over the same period last year (equivalent to 11,050 billion vnd).

The General Department of Taxation explained that some provinces such as Kon Tum, Binh Thuan, Lam Dong, Son La, and Hoa Binh, etc which had a huge revenue from hydroelectric production were heavily influenced by the severe drought in the first 8 months of 2016, which has led to a decrease in hydroelectric production output.

By September 30, 2016, Hanoi had only collected 64% of the estimate. The main reason is that many enterprises immediately declare and pay corporate income tax in the fourth quarter of 2015 (about 5,800 billion vnd), therefore the revenue in early months of 2016 is lower. In addition, the revenue of State commercial banks reduced by 220 billion vnd, the revenue of post and telecommunications group fell by 4,500 billion vnd, and Viettel Mobile Group fell by 3,080 billion vnd over the same period. However, if we add taxes paid in December 2015, the domestic revenue of Hanoi in the first 9 months of 2016 also reached 75% of the estimate.

thu noi dia nhieu dia phuong dat kha Domestic revenues for first 9 months of 2016 more than 75% of estimate

VCN - According to the latest report of the General Department of Taxation, in the first 9 ...

According to the General Department of Taxation, in the first 9 months of 2016, the revenue of most localities had increased over the same period last year (58 provinces of the total of 63 provinces). The economic situation in the last months of 2016 is expected to recover, production and business operations continue to grow and crude oil prices will fluctuate around $US 43-45 per barrel. Accordingly, the General Department of Taxation forecasts that the revenue in October 2016 will be approximately 85,400 billion vnd. Specifically, crude oil revenue is estimated at 2,200 billion vnd and domestic revenue is estimated at 83,200 billion vnd.

By Thuy Linh/ Hoang Anh