Country records goods revenue helping balance overall budget

	State revenue meets 57.1% of estimate
	Customs sector collects about VND187 trillion in first five months of 2022
	Ho Chi Minh City sees high revenue thanks to crude oil, real estate

The conference

Budget revenue reached VND806.4 trillion

According to the report of the Ministry of Finance, the country collected VND132.58 trillion, bringing the State revenue in the first five months to VND806.4 trillion, or 57.1% of the estimate, up 18.7% year-on-year.

The country spent VND128.1 trillion in May, bringing the State expenditure in the first five months to VND589.1 trillion, or 33% of the estimate, up 3.7% year-on-year.

Of this, pending for investment and development was estimated at VND115.9 trillion, or 22% of the estimate decided by the National Assembly; interest payments were estimated at nearly VND43.6 trillion, or 42% of the estimate; recurrent expenditure was estimated at nearly VND428.4 trillion, or 38.6% of the estimate.

Regarding the balance of the state budget, the central budget and local budget balance were ensured. Between January to May, the Government issued VND53.8 trillion in government bonds with an average term of 15.37 years and the average interest rate of 2.42% per year.

Regarding the implementation of the socio-economic recovery and development program under Resolution 43/2022/QH15 and Resolution 11/NQ-CP of January 30, 2022, the Ministry of Finance submitted to the Government, the Prime Minister to issued Decision 09/2022 dated April 4, 2022 on credit for students with difficult family circumstances to buy computers and equipment for online learning, effective from April 4,2022; Decision 448/QD-TTg dated April 12, 2022 approving the three-year public debt management program for the 2022-2024 period and the plan for public debt and debt repayment in 2022; Decree 32/2022 dated May 21, 2022 extending the payment deadline payment for excise tax for domestically manufactured or assembled automobiles; Decree 34/2022 dated May 28, 2022 extending the payment deadline of value added tax, corporate income tax, personal income tax and land rental in 2022; Decree 36/2022 dated May 05, 2022 on interest rate support for loans at the Social Policy Bank, loan capital, interest subsidy and management fee so that Social Policy Bank conduct lending under Resolution 43/2022/QH15.

Regarding public property management, the Government approved the plan to either restructure and handle 11 housing and land establishments of ministries and central agencies or the plan on asset transfer of five central agencies, while at the same time giving opinions on standards and norms for special-use cars of six ministries, central and local agencies.

Regarding equitization and divestment, in the first five months of 2022, the units continued to implement the equitization work according to the approved plan.

In May 2022, groups and corporations withdrew their capital at enterprises with a value of VND58 billion, earning VND213 billion. In the first five months of 2022, groups, corporations, and SOEs withdrew their capital at enterprises with a value of VND382 billion, earning VND2,180 billion.

Effort to fulfill tasks

At the conference, General Director of General Department of Taxation Cao Anh Tuan said that state budget revenue in May 2022 reached nearly 100,000 billion VND, bringing the revenue in the five months to VND672.878 trillion, equal to 57.3% of the estimate, up 16.5% year-on-year. The five-month budget revenue recorded goods result thanks to the surge in revenues such as: dividends from two banks, revenue from crude oil, other revenues, capital transfer activities of some units.

Regarding the deployment of e-invoices, after being activated, by May 31, 2022, over 98% of businesses and organizations using invoices have switched to e-invoices; all localities have launched e-invoices at over 90%, many cities and provinces reach over 99% such as Quang Binh, Dien Bien, Phu Yen, Dac Lac, Lai Chau. This result shows the target of 100% enterprises and organizations using e-invoices before July 1, 2022 of the Ministry of Finance will be successful.

Speaking at the General Department of Customs, Deputy Director of the General Department of Customs Hoang Viet Cuong said regarding trade facilitation, the Customs sector has directed local customs departments to maximize convenience for businesses. In May 2022, the customs sector collected VND36,826 billion, thus the revenue in the first five months collected by the Customs sector reached VND186,649 billion or 50.4% of the target, up 16.8% year-on-year.

Regarding the fight against smuggling and trade fraud, the Customs sector has launched special projects such as the special project at Noi Bai airport route with 13 drug cases and 29 suspects arrested and 179 kg of drugs seized. The Minister of Finance sent this Letter of Merit to the Customs sector.

At the conference, leaders of units under the Ministry including State Treasury, General Reserve Department, Department of Finance, Banks and Financial Institutions, Department of Budget reported on the task performance in May and the first five months of the year and the plan for the task performance in June 2022.

Deputy Minister of Finance Vu Thi Mai delivers the conclusion of the conference

Concluding the conference, Deputy Minister of Finance Vu Thi Mai said in the first five months the implementation of budget revenue and expenditure tasks, especially budget revenue, achieved good results with high growth compared to the same period last year.

This result contributes significantly to the general budget balance and balancing the economy, helping stabilize and develop the economy in the context of that many economic recovery policies such as exemption, reduction and extension of payment of taxes, fees to support production and business.

Deputy Minister Vu Thi Mai suggested that, in June and the coming months, heads of units should focus on completing policies and closely follow the progress to fulfill tasks according to the plans of the Government and the Ministry.

Country collects VND806.4 trillion in the first five months

Moreover, the Deputy Minister suggested the units should focus on completing the tasks well, continue to promote the achieved results and promote the tradition and take more efforts to complete the tasks in June as well as in the coming time.