The finance sector of Ha Giang province has advised the Provincial Party Committee and the Provincial People's Committee to operate the budget actively and flexibly to ensure balance and stability. At the same time, the sector has effectively implemented policies on finance and pricing and created momentum for the sustainable development of the local economy.
2021 is a year of special significance, the first year of implementing the resolution of the 13th National Party Congress; the Resolution of the 17th Provincial Party Congress; the Ha Giang Socio-economic Development Plan in 2021 - 2025; and is the 60th anniversary of President Ho Chi Minh’s visit to Ha Giang province. Therefore, the Department of Finance and its subordinates have strengthened solidarity, effort and responsibility to obtain many achievements. The sector has focused on thoroughly grasping and effectively carrying out the "dual task" of COVID-19 pandemic prevention and socio-economic development to ensure national defense and security. The sector will certainly implement the budget revenue and expenditure, public investment plan in 2021. The Department of Finance advises on tight and effective budget expenditure management, ensuring resources to carry out important political tasks, social security policies, programs, projects and key tasks of the province. The sector has strengthened inspections; improved the capacity and responsibility of officials and civil servants in the performance of their duties. It has also promoted public finance reform, information technology application in financial management and implemented online payment of public services to better serve people and businesses.
Regarding budget collection, the Department of Finance has actively coordinated with tax authorities, other relevant bodies and district-level government to collect and manage budget revenue under tax laws in 2021; focused on reviewing difficulties faced by enterprises; stepped up the fight against revenue loss, transfer pricing, smuggling, trade fraud and tax evasion, drastically handled and recovered overdue tax, strengthened inspection of financial obligations of taxpayers. The department has paid close attention to enterprises with high tax risks engaged in basic construction, waterborne transport, land transport and petroleum distribution.
Thanks to the initiative in implementation, the State budget revenue in the first six months of 2021 of Ha Giang province was estimated to reach VND925 billion, equal to 49.5% of the plan assigned by the Central Government and 34.3% of the plan assigned by the province, including (1) Domestic revenue of VND872 billion, equaling 52, 6% of the central plan and 36.3% of the provincial plan, up 2.8% over the same period in 2020 (2) Revenue from import-export activities of VND48.8 billion, equal to 23.2% of the central estimate and 18.1% of the provincial estimate, down 53.2% over the same period in 2020 due to the impact by Covid-19; (3) Aid, funding, and donation collection of VND4 billion, equal to 15% of the provincial estimate (these revenues are mainly made at the end of the year).
Apart from budget revenue collection, the Department of Finance has also flexibly but tightly managed budget expenditure and advised the Provincial People's Committee on this matter, from estimation to execution. Right from the beginning of the year, the department directed its subordinates to carry out budget expenditure plans in 2021, with strict requirements on allocation time, content and execution to ensure economy and effectiveness. In administration, the department strengthened financial and budgetary inspection, controlled budget expenditure and promptly handled violations in budgetary affairs.
Local budget expenditure in the first six months of 2021 was estimated at VND6,152 billion, equal to 42.1% of the plan assigned by the province, including (1) Expenditure on development investment of VND1,081 out of 3,581 billion, equaling 28.4% of the plan. The disbursement rate was low due to the impact of the Covid-19 pandemic; many difficulties in the mobilization of human resources, materials, and construction organization faced; suspension of many projects. In particular, some projects using ODA loans and foreign preferential loans had to be suspended. Investment capital from land use tax was disbursed according to the progress of tax collection. (2) Regular expenditure was VND4,242 billion out of 9,028.8 billion, equaling 46.8% of the plan. (3) Expenditure from source transfer revenue was VND762 billion, equal to 48.4% of the plan. (4) Budget provision spending was VND78 billion, equal to 38% of the plan.
Mr. Nguyen Ngoc Thanh, Director of the Department of Finance, said, "Ha Giang is a poor province that cannot balance its own budget for local socio-economic development. Business operations of small and medium enterprises still faced numerous difficulties. Slowing tax collection and overdue tax payment affected the overall budget collection result. In addition, due to the serious impacts of COVID-19 pandemic and natural disasters, the budgetary balance was seen as an extremely difficult task in 2021. Therefore, right from the beginning of the year, the finance sector resolved to manage the budget and fulfill all assigned tasks.”
Determined to achieve the highest results in 2021, the Department of Finance managed budget affairs according to the State Budget Law, the Law on Public Investment and the Resolutions of the Provincial People's Council. Besides, the province issued many policies and solutions to fulfill socio-economic development tasks and budgetary estimations in 2021 as per resolutions of the central government and the Provincial People’s Council; drastically directed complete, consistent and effective solutions on budgetary discipline; ensured revenue collection and prevented loss of budget revenue to achieve budgetary balance to support the realization of the double goals of pandemic prevention and economic development, including financial and budgetary management tasks.
In addition to increasing the province's budget revenue, Ha Giang has effectively implemented support solutions on business operations; seriously directed related bodies to collect budget revenue by taking sightseeing fees at tourist attractions, fighting against tax loss, especially taxes on tourism services, and decentralizing tax collection and management to localities. Along with the local potential strengths, the province has an open business environment, and an enabling government, making the province an attractive destination to many potential domestic and foreign investors, who have greatly contributed to the provincial budget, ensuring the target of local economic growth.
To achieve its goals and solutions, in the coming time, the finance sector will further focus all resources to complete at the highest budget tasks; step up the fight against revenue loss, deal with overdue tax, and increase collectible revenue to offset localities adversely affected by natural disasters and pandemics so as to complete budget plans in 2021. The sector will review and cut spending deemed to be unnecessary; focus on drastic and consistent solutions to promptly remove difficulties and obstacles, speed up public investment disbursement and create important momentum for sustainable socio-economic development in the following year.
Source: Vietnam Business Forum
Vietnamese
October 2024
Hanoi