2021 is a year of significance, the starting year for the realization of the socio-economic development goals for the period 2021-2025. In the context of the administration of budget expenditure and revenue facing challenges, and as the economy is heavily influenced by the COVID-19 pandemic, the Lang Son Department of Finance has actively coordinated with all branches and departments to synchronously and flexibly implement expenditure and revenue budget solutions to fulfill their assigned tasks.
According to the Lang Son Department of Finance, budget revenue of the province in the first quarter of 2021 reached 2,417.2 billion VND, reaching 42.89% of the plan assigned by the central government and 41.4% of the province’s estimated plan. In which, revenue from import and export activities was 1,652.5 billion VND, reaching 47.9% of the estimate, as much as 168.2% over the same period in 2020. Domestic revenue was 764.7 billion VND, accounting for 227% compared with the same period in 2020.
Meanwhile, the total local budget expenditure estimated for the first quarter of 2021 was 2,119.4 billion VND, reaching 19.7% of the estimate assigned by the province at the beginning of the year, as much as 92.6% over the same period in 2020. Specifically, expenditure in the local budget balance was 1,815.6 billion VND, reaching 20.5% of the estimate assigned at the beginning of the year and as much as 93.9% over the same period in 2020. Development investment expenditure was 351.5 billion VND, gaining 24% of the estimate, as much as 87.6% over the same period in 2020; recurrent expenditure was 1,454 billion VND, reaching 20.1% of the estimate, as much as 97.6% over the same period in 2020; spending for targeted programs and some other tasks was VND 303.8 billion, reaching 16.3% of the estimate, equaling 85.3% over the same period in 2020. Most expenditures are controlled by all departments and branches and strictly comply with regulations.
Ms. Nguyen Anh Yen, Deputy Director of Lang Son Department of Finance, said: In 2021, the estimate of central revenue budget assigned to Lang Son province is 5,635 billion VND, of which, domestic revenue is 2,185 billion VND; revenue from import and export is 3,450 billion VND. The estimated revenue budget by the provincial People's Council is 5,835 billion VND, of which, domestic revenue is 2,385 billion VND, revenue from import and export is 3,450 billion VND.
To complete the budget collection task in 2021, in the context of still maintaining the implementation of the dual goal, of both economic development and pandemic prevention, Lang Son Department of Finance focuses on implementing a number of key tasks such as: Proactively advising the Provincial People's Committee to seriously, promptly and effectively implement the provisions of the Law on State Budget; Giving advice to build mechanisms and policies on the management of expenditure and revenue budget; Concretizing the central documents to ensure synchronization, publicity and transparency in accordance with the real conditions of the province; Consulting the Provincial People's Committee about the state expenditure structure towards gradually increasing the proportion of development investment spending in the budget balance, associated with promoting organizational structure, streamlining payrolls, and reforming the non-business sector public.
At the same time, the Department will closely monitor market price developments, resolutely handle violations of the law on prices; continue to promote the equitization of state-owned enterprises, well control equitization revenue and improve the performance of state-owned enterprises.
In addition, the Department of Finance will also coordinate with related units to well implement measures to reform administrative procedures, and create a favorable environment for enterprises of all economic sectors. The Department will coordinate with collection agencies, districts and the city to drastically and synchronously implement solutions on the management of state budget revenue with a focus on tax and customs. The Department will also strengthen revenue management, inspection and examination against revenue loss and price transfer, ensure the correct, full and prompt collection of taxes, fees and charges into the State budget, bringing full play land resources to increase revenue and socio-economic development.
By Nguyen Bach, Vietnam Business Forum