The impression of budget revenue for the term of 2016 - 2020


The impression of budget revenue for the term of 2016 - 2020

Not only ranking in the top of investment attraction and industrial development, Vinh Phuc is also a bright spot of the country in budget revenue when the revenue was VND 35,029 billion in 2019 and is one of 16 provinces and cities having the largest contribution on the central budget, up to 47%, ranking the second in the North after Hanoi city.

Take the initiative in budget collection measures

In the last month of the third quarter of 2020, the work of Vinh Yen City Tax Department officials became busier when they implemented supportive activities for businesses and households facing difficulties due to Covid-4. Resolution No. 42 of the Government has both focused on the task of collecting, combating revenue loss, reducing tax arrears, striving to exceed the ordinance target of 2015-2020. Mr. Pham Thanh Tu, Deputy Director of Vinh Yen Tax Department, said that in the period of 2015-2020, the City Tax Department was assigned to collect VND 2,765.7 billion. Overcoming difficulties, affecting the budget collection tasks, over the past years, along with promoting propaganda and support to taxpayers, the Branch has assigned specific targets for each tax team; review and grasp units and enterprises on the situation of production and business activities, consider the tax declaration and compliance. In particular, to ensure correct and full collection of tax arrears, the City People's Committee advisory sub-department set up a Steering Committee to combat budget revenue loss and an interdisciplinary working group to combat state budget revenue loss. At the same time, to direct the debt management team and the tax debt collection enforcement team to develop weekly and monthly debt collection plans to limit newly arising debts; promote IT application, support enterprises to make tax declaration online. Thanks to the synchronous and effective implementation of groups of solutions, the unit has always completed and exceeded the assigned targets in the past 5 years. Specifically, in 2015, it exceeded 60.2% of the ordinance target, in 2016 exceeded 44.7%, in 2017 exceeded 4.8%, in 2018 exceeded 10% and in 2019 exceeded 38.4%. Particularly in the first eight months of 2020, although the production and business activities of enterprises were affected by Covid-19, the Department has exceeded the budget revenue target of the whole year, with VND 511,315 million, up about 10.7% of the ordinance target in 2020 and 10.9% over the same period in 2019.

According to the general data of the Finance - Planning Department (the People's Committee of Vinh Yen city), the total budget revenue in the city in the period of 2016-2020 is estimated at VND 7,148 billion, up 1.8 times compared to the total revenue of 2011-2015. The revenue structure has had many positive changes in the direction of sustainability, making an average increase of 10.5% / year, reaching the target of the Resolution of the XX Party Congress of the City, of which, domestic revenue accounts for over 40 %.

Among industrial parks and enterprises operating in production and business in recent years, Binh Xuyen district has always achieved impressive results in the socio - economic development, especially budget revenue.

According to the report of the Finance - Planning Department (the People's Committee of Binh Xuyen district), in the past 5 years, state budget revenue in the district has continuously increased, from more than VND 1,446 billion in 2015 to more than VND 2,413 billion in 2019; it is estimated that in 2020, it will reach over VND 1,500 billion. The revenues increasing higher than the estimate are non-agricultural land use tax, registration fee, land use fee, personal income tax, land rent, water surface ...

Ms. Tran Thi Thanh Tam, Head of Finance - Planning Department said that in order to get the above impressive results, every year, the District People's Committee had developed the plan focusing on solving difficulties and problems, creating favorable conditions for production and business activities to develop and nurture revenue sources. Strengthen management of tax declaration, inspect and urge tax settlement, collect tax arrears; exploit well sources of revenue.

In addition, it is required that localities accelerate the land auction of projects, additional resources for investment; speed up the compensation, site clearance, complete procedures for allocation of resettlement land, land for people stretching, and service land to increase revenue for the state budget ...

Besides Vinh Yen city and Binh Xuyen district, in the period of 2015-2020, the remaining 7 districts and cities have impressive breakthroughs in economic development, budget revenue, significantly contributing to turn Vinh Phuc from a province dependent on the central budget into a self-balancing locality that contributed to the central budget in 2004, exceeded 10,000 billion dong in 2009, over 20,000 trillion dong in 2014, over 30,000 billion dong in 2016, reached 35,000 billion dong in 2019 and is one of 16 provinces/cities with the largest rate of central budget regulation, up to 47%, ranking the 2nd in the North after Hanoi city.

According to the statistics of the provincial State Treasury, until 24/8, the total budget revenue in the province reached 17,516 billion dong. It is estimated that until the end of 2020, it will reach 33,500 billion dong; the rate of State budget revenue/GRDP has reached a high level, the average rate in the period of 2016-2020 has been 30.38% / year, exceeding the target of the Resolution of the XVI Provincial Party Congress.

Efforts to create new impressions

According to functional sectors, in 2016-2020, the total budget revenue of Vinh Phuc is about VND 288 trillion, making an average increase of 12% / year. However, the growth rate of budget revenue has not been steady due to the focus on a number of foreign-invested industries, especially automobile, motorbike manufacturing and assembly.

Specifically, in this period, the FDI sector has accounted for about 78% of the total domestic revenue, of which, Toyota Vietnam Company and Honda Vietnam Company account for over 90% of total revenue from the FDI sector; the budget revenue from non-state enterprises only about 4.7%, State enterprises about 1%, revenues from land about 4-6%, registration fees and collection from environmental protection tax from 1.2% -1.4%.

In 2020-2025, Vinh Phuc will strive for an average increase in total budget revenue of 6.5-7% / year. The rate of state budget revenue / GRDP on average will reach 25 - 27%. In order to achieve this goal, the province strengthens state budget - finance discipline at all levels and branches; strictly manages expenditures from the budget, thoroughly ensures thrift, fights wastefulness, increases non-business revenues, and does not promulgate policies, regimes, and schemes when capital sources cannot be balanced. Strictly control the advance of budget estimates, expenditure transfers, expenditures from the state budget reserve sources. Well implement the Law on Public Debt Management, control and manage the province's public debt within allowed limits, accelerate the restructuring of public debt, tightly control potential debt liabilities. Improve the efficiency in the use of public debt, associate the responsibility for allocation and use of loans with accountability, balance debt repayment obligations. Recovery and transfer of sources for projects with slow implementation, not really necessary; review, reduce and extend the progress of implementing a number of works and projects that are not really necessary under the medium-term public investment plan; promote land auction projects to create resources for the investment on development.

The provincial People's Committee requests all levels, branches and localities to focus on implementing the Project on agricultural restructuring, promoting economic development; continuing to accelerate the work of compensation, site clearance, investment in the construction of industrial zones to attract big projects. Speed up the construction of a number of tourism and entertainment projects. Continue to encourage and promote entrepreneurship and creativity of businesses, especially to well implement the policies of the Government and the province related to improve the investment environment, help enterprises to quickly overcome difficulties and impacts caused by Covid-19, boost production and business, promote the development of industry, increase budget revenues for the province.

Following the direction of the provincial People's Committee, the taxation of Vinh Phuc continues to synchronously declare solutions to fulfill the set targets and tasks, ensure the budget revenue. In particular, well implement the functional tax administration model, promote the tax declaration, payment, and electronic tax refund.

Strengthen tax declaration management, manage all revenue sources on centralized tax management software; reviewie, analyze and classify tax debts, implement synchronous measures to urge and settle debts. Focus on checking and reviewing the number of enterprises registered for business, the number of enterprises temporarily suspending or ceasing operations, ensuring to put into tax administration for 100% of enterprises doing business; accurately identify subjects, adjust presumptive tax rates to suit business reality, combat loss of state budget revenue.

Thanh Nga

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