Focally Strengthening Implementation of State Budget Revenues 2013

For the first seven months of 2013, Vietnam economy has been developed positively in the right direction, however it still faces difficulties in some sectors and localities; some economic indicators have been improved, but still fail to reach the targets.

 

According to Deputy Finance Minister Nguyen Thi Minh, total State budget revenues in July expectedly reached VND73 trillion, 41.9 percent higher (about VND21,550 billion) than that in June; accumulative revenues in the seven months were estimated about VND429,165 billion, up 6.3 percent compared to that in same period of 2012. Domestic revenues reached VND281,720 billion, accounting for 51.6 percent of budget estimation, up 8.2 percent compared to that in the same period of 2012.

As of July 2013, there were 23 of 63 provinces achieving local revenues of budget estimation. Revenues from petroleum industry reached VND64,330 billion, about 65 percent of budget estimation, based on the seven months average price of about US$112 per gallon; production was estimated at 8.67 million tonnes, about 61.3 percent of the plan. Revenues from export and import activities: Revenues from export and import activities reached VND119,695 billion after completing VAT refund by regulations, accounted for 47.8 percent of budget estimation, 12.1 percent higher than that in the same period of 2012.

 

At the end of July 2013, there was about VND127.33 trillion funding for the State budget from Government Bonds, reached 65.3 percent of task of mobilising domestic capital for development investment in 2013.

 

To ensure successful implementation of financial - budgetary task in 2013 and balance between revenues and expenditures, Finance Ministry has released a number of solutions which focus on guiding the implementation of Governmental Resolutions No.01/NQ-CP and No.02/NQ-CP dated 07/1/2013 aiming to remove difficulties for business production, settle bad debts, support the market, enhance purchasing power, accelerate product consumption, and sectors also guarantee that the policy shall approach people and businesses.

 

In addition, solutions also concentrate on implementing administration reform, removing difficulties and enabling organisations and individuals to push up investment and business activities; to reject barriers, simplify unreasonable procedures and licenses that cause troubles for businesses activities in order to make incentives and facilities to improve economic development and budgetary revenues.

 

The Ministry of Finance also guided departments, sectors, public security agencies, border force agencies, market surveillance agencies and People’s Committees of districts/townships, precincts/communes enhancing collaboration with taxation agencies and customs agencies to prevent smuggling, trading frauds, tax exile.

 

Besides that, the Ministry also required provinces/cities to establish Steering Committee to prevent revenue loss and resolve arrears in locals. The committee will be managed by Chairman of People’s Committee, representatives of departments, agencies; sectors of provinces/cities, districts/townships become members. Steering Committee will immediately deal with troubles relating to State budget revenues; directing departments and agencies to cooperate with taxation agencies in the area to well perform the Law on amendments and supplements to a number of articles of the Law on Tax Management, Law on amendments and supplements to a number of articles of the Law on Personal Income Tax, and some regulations of the Laws on amendments and supplements to a number of articles of the Law Value Added Tax, and Personal Income Tax taking effects since July 1^st 2013.