9 major financial and budgetary tasks in 2019

	The Customs sector successfully fulfilled 2018 tasks
	The financial sector has successfully completed its financial and budgetary tasks 2018
	Prime Minister: effective coordination is the cause for the success of the Finance sector

Localities also attended and made many recommendations on solutions to implement the financial and budgetary tasks in 2019. Photo: Quang Hung.

Firstly, strictly operating fiscal policies, coordinating synchronously and flexibly with monetary policies and other macro policies, removing difficulties to boost production - business development; implementing objectives, tasks and solutions to restructure the state budget as set out; drastically carrying out the budget collection; managing and controlling budget expenditures according to estimates in an effective and economical manner.

Specifically, continuing to study amendments and supplements to the tax law policy towards expanding the tax base, preventing erosion of revenues, preventing price transfer pricing, restructuring revenue sources and strengthening the leading role of the Central budget. Striving to raise revenue about 5% compared to the estimate and achieve mobilization rate at 23.5% of GDP. Promoting combat against revenue losses, transfer pricing, trade fraud and tax evasion. Strengthening tax inspection and examination; handling of outstanding tax debts to reduce the tax debt rate to less than 5% of the total state budget revenue.

At the same time, managing the state budget expenditure according to the estimates and enhancing thrift practice; tightening budgetary disciplines. Strictly controlling and striving to reduce the public debt balance within the scope decided by the National Assembly of about 61.3% of GDP by the end of 2019. Mobilizing capital for the state budget and investment development in line with the state budget balance in each period; strengthening the issuance of long –term Government bonds in combination with restructuring the public debt portfolio.

Secondly, focusing on finalizing institutions according to the proposed plan; promoting administrative reform, modernization, reducing administrative procedures and business conditions in the financial field including tax, customs and state treasury, contributing to further improving the business environment, business development and start-ups, and better serving people and businesses.

Thirdly, continuing to review and reorganize the organizational structure and human resource towards effectiveness and efficiency according to Resolution No. 18 of the Sixth Plenum (12th term), Resolution No. 39 of the Politburo; promoting to improvement of the autonomy mechanism of public non-business units under Resolution No. 19 of the Sixth Plenum (12th term ), and boosting the proposed roadmap for price calculation of public services using the proposed state budget.

Fourthly, continuing to improve the legal system on price management; managing according to the market mechanism under the State management for important commodities of which prices are decided and stabilized by the State.

Fifthly, accelerating the implementation of solutions to synchronously develop the financial market, securities market, insurance; improving the quality of financial, accounting and auditing services; stepping up the development of the derivatives market, corporate bonds and new products.

Sixthly, strengthening the restructure and equitization of SOEs in the spirit of the Central Resolution 5 (12th term); boosting state capital divestment in enterprises. Raising the quality of investment, production and business efficiency, publicity and transparency of business operations.

Seventhly, tightening financial and budgetary disciplines in law-building and public-duty performance; enhancing thrift practice and waste combat; strengthening inspection, examination, supervision and publicity and transparency in state budget revenues and expenditures, capital construction investment, management and use of public assets, land, natural resources, minerals, etc; and strictly complying with the inspection and auditing conclusions.

Eighthly, taking initiative in international financial integration; actively participating in regional and international financial cooperation activities; continuing to implement the roadmap for tax reduction within the framework of signed free trade agreements.

Looking back on the effort of reforming administrative procedures of Finance sector in 2018 VCN – Putting efforts after an enduring process in 2018, the Finance sector has achieved comprehensive results ...

Ninthly, focusing on directing and operating, ensuring production and business activities before and after the Ky Hoi Lunar New Year 2019; closely monitoring the situation of price and market fluctuations; and strictly handling violations, causing abnormal price fluctuations.