Well Administering State Budget Revenue, Expenditure

9:14:17 AM | 9/8/2022

Over the past years, the Can Tho finance sector has implemented synchronously and drastically the cost estimates and the key tasks and solutions regarding State budget revenue and expenditure in the area.

Specifically, in 2022, Can Tho city strives to achieve a total state budget revenue of VND11,117 billion. VND10,617 billion comes from domestic revenue, VND500 billion from customs tax collection. The total local budget expenditure is estimated at VND15,328 billion. To achieve the set goals, the city has been implementing synchronous solutions such as focusing on solutions to production and business recovery; firmly directing to strictly implement the Law on Tax Administration, fighting against the loss of revenue, combating transfer pricing, tax evasion, and commercial fraud; strengthening debt management and tax debt recovery. The city also continues to promote tax administrative reform, strengthen the application of information technology in tax administration; regularly monitor, check and control the tax declaration of organizations and individuals.

Can Tho has sped up key programs and projects; urgent works in progress; reciprocal capital for ODA programs and projects and concessional loans from foreign donors. The city has also focused on handling outstanding debts for capital construction and recovering advance capital, limiting expenditures to transfer sources to next year. Can Tho also continues to remove difficulties and obstacles for each project; disburses public investment capital in accordance with the completed volume. In particular, the city regularly inspects and evaluates the progress of projects.

Can Tho city has been drastically implementing Resolution 45/2022/QH15 on piloting a number of specific mechanisms and policies for the local development. The Department of Finance has issued Plan 609/KH-STC on the consultation plan to implement Resolution 45/2022/QH15 for contents in the field of finance - budget. According to Director of the City Department of Finance Nguyen Quang Nghi, in order to implement the preferential policy on mobilizing investment resources according to Clause 1, Article 3, Resolution 45/2022/QH15, the Department of Finance will coordinate with the Department of Planning and Investment to propose the City People's Committee to develop plans and projects to borrow domestic and foreign investment capital through many forms and balance the ability and time to repay loans.

For the specific mechanism of piloting the implementation of the fee and fee policy in the city according to Clause 3, Article 3, the Department will advise and propose that the City People's Committee submit it to the City People's Council for consideration and decision on the level of fees that have not yet been specified in the list of fees and charges promulgated together with the Law on Fees and Charges, as well as advising on adjusting the rate of charge and fee collection decided by the competent authority for the fees in order to create more revenue for the local budget, meeting the needs for investment in socio-economic infrastructure.

Source: Vietnam Business Forum