August 15, 2018 11:50

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The Tax sector set a new peak in the mobilization of domestic resources

16:42 | 05/02/2018

VCN – This is the first time in history, the tax revenue exceeded VND 1 million billion. This revenue represents the specific guidance of the Government and the Ministry of Finance, together with the efforts of the entire Tax sector in implementing measures drastically to combat the loss of state budget revenue and enhancing the inspection and actively taking measures of debt collection.  

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the tax sector set a new peak in the mobilization of domestic resources
Minister Dinh Tien Dung at the conference

Revenue exceeds VND 1 million billion

At the conference to deploy the tax tasks in 2018 and announce the results of tax management in 2017, General Director of Taxation Bui Van Nam said: under the attention, specific guidance of the Government and the Ministry of Finance and the support of the party committees and local authorities and the production development of the business community and business individuals, the revenue of the General Department of Taxation in 2017 was estimated at VND 1.019.041 billion (excluding the revenue from the sale of state shares in enterprises). This revenue was equal to 105.2% of the estimate and 111.5% in 2016.

"This is the first year that tax revenue exceeded 1 million billion, setting a new peak in the mobilization of domestic resources, contributing to reduce state budget deficit. In order to achieve the above result, in 2017, the General Department of Taxation strictly followed the guidance of the Government, the Prime Minister and the Ministry of Finance. Tax authorities at all levels concentrated on deploying synchronously and resolutely, solutions to combat the loss of state budget revenue, by actively taking measures to urge the debt collection of arrears, strengthening support and solving difficulties for taxpayers associated with accelerating the reform of tax administrative procedures and facilitating people and businesses, " Mr. Bui Van Nam said.

Tax Statistics showed that, by the end of the year, there were 639,104 enterprises operating in the country at the end of 2017, an increase of 71,338 enterprises compared to 31st December 2016. According to the tax office, basically, taxpayers were well in charge of tax declaration and payment timely and fully. On average, the total number of submitted declarations reached 96% of total declarations, with 93% of declarations submitted on time.

Also, in 2017, the tax authorities at all levels issued 18,586 tax refund decisions with the total refunded value added tax of more than VND 97 trillion, equalling 103.3% over the whole of 2016.

In 2017, the tax sector has continuously improved the quality of tax inspection and supervision under the guidance of the Government and the Ministry of Finance on strengthening its combat against tax loss and expansion of tax facilities. With more than 103,000 inspections, the tax sector has raised more than VND 19 trillion, thereby contributing more than VND 15 trillion to the state budget.

Remarkably, in order to enhance the management of tax debts, the tax sector has implemented synchronous measures to manage and urgently collect tax debts to the budget and minimize new debts arising. Thanks to those efforts, in 2017 the tax sector has collected VND 44.773 billion from tax debts. This amount accounted for 59.5% of the total tax debts as of 31st December 2016, transferred to 2017 and up 12.6% over the same period of 2016.

Striving to exceed at least 3% of estimate

According to Bui Van Nam, in 2018, the estimated revenue of the state budget of the tax office is VND 1.070.200 billion. The whole sector will strive to exceed at least 3% of estimate and reduce the tax debt ratio to below 5% of total budget revenue in 2018. The tax sector must also implement the main tasks and solutions under the guidance of the Government on implementing the socio-economic development Plan and State Budget estimates for 2018, strengthening the macroeconomic stability, restructuring the economy associated with the reform of the growth model. At the same time, drastically implementing administrative reform, encouraging innovation, start-ups, developing enterprises and promoting economic growth.

In particular, the key tasks in the tax sector in 2018 are further accelerating the implementation of the Plan for tax system reform in the period 2016-2020, approved by the Minister of Finance; reviewing and reforming tax administrative procedures and amending and supplementing professional procedures, maintaining and striving to improve Vietnam's taxpayer rank in the World Bank's Doing Business Report.

The leader of the General Department of Taxation said that in order to carry out such tasks, the tax sector would carry out synchronous solutions to complete the budget revenue task in 2018.

At the conference, General Director Bui Van Nam also proposed some recommendations to the Government and the Prime Minister. Specifically, the General Department of Taxation proposed amending the Law on Tax Administration, in which adding the function of initial investigation to the tax office; and the function of administrative inspection to the tax office. He also proposed the Government to submit to the National Assembly a Resolution on the handling of irrecoverable tax debts. As well, restructuring the General Department of Taxation and establish a Department on tax management for large enterprises under the General Department of Taxation.

At the conference, Minister Dinh Tien Dung realized and praised the achievements in 2017 of the tax sector. Under the directions of the Prime Minister Nguyen Xuan Phuc, the Minister requested the General Department of Taxation to fully absorb and comprehend the directions into action programs, into specific tasks and solutions.

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The Minister asked the tax sector to continue performing the revenue collection task assigned and strive to exceed 5% of the estimate. At the same time, closing following directions of the Government and the National Assembly to develop action programs from the first days of 2018.

By Thuy Linh/ Huyen Trang