In regards to the mission of the budget collection in 2014, the representatives of the tax and customs authorities said that the budget collection targets should be based on the operation of the economy and businesses to avoid the unlikelihood of reaching the targets; particularly, the businesses are faced with many difficulties and challenges now. Besides the incentives for the budget collection, the authorities need to pay more efforts to further facilitate businesses through reform and simplification of the administrative procedures.
According to the report of the Ministry of Finance, by the end of November, the total state budget revenue has reached VND698,260 billion, accounting for 85.6 percent of the estimate while the budget expenditures has reached VND866,150 billion, equivalent to 88.6 percent of the estimate. Both of the budget revenues and expenditures expenses have increased by 10 percent over the same period.
The macroeconomic indicators in November show many positive changes. Accordingly, the consumer price index has risen by 0.34 percent over the previous month; the export growth is quite good and the trade deficit has been at lowest level for many years, thus creating favourable conditions to maintain the stability of the domestic currency value of the last months of 2013 and the year 2014.
By the end of November, total domestic revenue was VND461,610 billion, accounting for 84.6 percent of the estimate, an increase of 14.5 percent. There are 30 over 63 provinces reaching the minimum estimates of 92 percent, of which 15 provinces have fulfilled the targeted revenues because of the centralized revenue from some key products or being less affected by the economic downturn.
The total budget expenditure has reached VND866,150 billion or 88.6 percent of the estimate, of which the spending on investment is VND164,918 billion and on debts and financial aids is VND94,490 billion before the debts are coming due. According to the Ministry of Finance, the collection for the budget revenue up to date has had many changes. However, to achieve the targets of the annual revenue and manage the budget deficit under the control of the National Assembly as well as arrange the VAT refunds and manage the increase of the debt payments require further efforts of the functional agencies, particularly of the tax, customs and treasury agencies. The customs and tax agencies need to strengthen the monitoring and inspection to reduce losses and tax arrears while strictly managing the spending of the revenue to guarantee efficiency and savings.
Specifically, the Ministry of Finance requires the General Department of Taxation to strengthen the revenue collection in the last months of the year and comprehensively adopt the solutions to collect tax for the purposes of reducing the losses and tax arrears as well as achieving the tax collection targets of 2013 under the direction of the Government and the Ministry. The General Department of Customs is required to strengthen different measures against the tax debts and in collaboration with the Ministry of Public Security to inspect and handle the cases of tax evasion, tax fraud and the customs clearance inspection as well as tighten the inspection of the key goods.
Along with such the measures, the internal inspection and monitoring activities should be tightened sharply for timely adjustment and punishment for the violations of the customs officials. On the other hand, the authorities continue to inspect and control petroleum products, imported vehicles, electronics, poultry smuggling as well as strengthen inspection and control of the VAT refund for the exports to inspect the frozen re-exports to China. Besides, other measures such as restructuring of the tax refund, tax declaration, and VAT collection for business activities, coffee exports, and other exports of goods across land borders.
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