"Creativity in revenue collection to achieve set goals in difficult contexts"

VCN - The Ministry of Finance held an online briefing conference to evaluate the implementation of financial and budget work in April and deploy the work program for May 2024. Minister of Finance Ho Duc Phoc chaired the conference.
scene of the conference
Scene of the conference

Solidarity, creativity, innovation, and bravery to complete the task well

Speaking at the Conference, Minister Ho Duc Phoc said that, in the context of a difficult economic situation, fiscal policy became a pillar for the country's economy.

In those difficult conditions, the state revenue collection has applied many creative ways and initiatives to meet the set goals.

The Minister pointed out that state revenue collection depends on the growth of the economy, however, with the current small scale of the economy, low foreign exchange reserves, little financial reserves, and large demand and to ensure stable exchange rates, prices, especially electricity prices, gold prices... were also difficult issues.

The Minister emphasized the difficulties of putting pressure on the economy and the implementation of tasks in the Finance sector. Therefore, the Minister emphasized that this was the time to unite, be creative, dare to innovate, and have the courage to overcome difficulties, ensure the successful completion of assigned tasks, and strive for the common development of the Finance sector.

Regarding revenue collection, according to the Ministry of Finance, state revenue collection in the first 4 months of the year is quite good compared to the estimate. Accumulated in the first 4 months of 2024, state revenue collection is estimated at VND733.4 trillion, equal to 43.1% of current appropriation, rising 10.1% over the same period in 2023. In particular, domestic revenue is estimated to reach VND629.9 trillion, equal to 43.6% of current appropriation, an increase of 12.9% over the same period in 2023.

According to Mr. Mai Xuan Thanh, Director General Department of Taxation, although increasing over the same period, domestic revenue is showing signs that collection work is facing many difficulties. Therefore, in the coming time, the Tax industry will continue to monitor and properly evaluate the economic situation, analyze and identify the impacts of fiscal and monetary policies implemented by countries on the situation of domestic production activities, thereby promptly advising the Ministry of Finance and the Government to have proactive scenarios and solutions in managing state budget revenues in 2024.

Minister of Finance Ho Duc Phoc
Minister of Finance Ho Duc Phoc

Speaking at the General Department of Vietnam Customs, Director General Department of Vietnam Customs Nguyen Van Can informed about the work of perfecting the law related to the progress of building and amending 3 decrees chaired by the Customs sector, including Decree amending and supplementing Decree 08/2015/ND-CP detailing and implementing measures of Law on Customs on customs procedures, inspection, supervision and control; Decree on customs management of exported and imported goods traded via e-commerce; Decree regulates the management mechanism, methods, order, and procedures for quality inspection and food safety inspection for imported goods...

At the same time, the leaders of the General Department of Vietnam Customs also proposed to the Ministry of Finance the contents related to the general procurement process in the financial management decentralization of basic construction and IT procurement; estimated budget for purchasing equipment and machinery at border gates for anti-smuggling work...

The conference also heard leaders of other general departments, departments, and units of the Ministry of Finance such as the State Securities Commission, State Treasury, Department of Public Administration, Department of Financial Planning... report on implementation results and solutions implemented in the following months.

Pay attention to the fight against smuggling, especially the smuggling of gold, foreign currency, and drugs

Speaking at the Conference, Deputy Minister of Finance Le Tan Can said that monitoring the general situation, showed that units in the Finance sector have closely followed and performed well the set tasks.

Acknowledging the achieved results, the Deputy Minister said that this result was a continuation of the success of the previous time, and also highly appreciated the role of the heads of units as well as the spirit of civil servants and public employees of financial sector.

The Deputy Minister noted that with the large volume of legal documents in the Finance sector, units need to strengthen coordination to ensure task accomplishment of perfecting the law.

In particular, internal collaboration in the industry should be tightened; regarding relevant ministries and branches, there needs to be a closer coordination relationship, with the motto that document quality is the most important issue; it is necessary to carefully review the documents to avoid errors.

Speaking at the Conference, Deputy Minister of Finance Cao Anh Tuan continued to emphasize the acceleration of perfecting legal documents, especially for the Special Consumption Tax Law (amended) and Law on Corporate Income Tax (amended). At the same time, urgently coordinate with specialized units to complete the dossier requesting the Law development, ensuring completion on schedule and with quality.

The Deputy Minister also noted that for the project Law on Management and Utilization of State Capital Invested in the Enterprises’ manufacturing and business activities (amended), specialized units must coordinate closely with specialized units of the Government Office to submit to the Government for approval the proposal to develop a Law. On that basis, reporting to the National Assembly Standing Committee and the National Assembly for consideration and registering for the law and ordinance development program.

Concluding the Conference, Minister of Finance Ho Duc Phoc emphasized that the difficult situation might last for a long time, so units in the industry needed to carry out work soon based on their assigned functions and tasks agreed upon at this briefing meeting.

At the same time, seriously overcome shortcomings, strengthen financial discipline, promote the application of digital transformation, improve the effectiveness and efficiency of state revenue collection and expenditure management; strengthen administrative discipline in performing public duties, paying special attention to risk management issues.

The Minister also requested to focus on the disbursement of capital for basic construction investment within the industry; reviewing and reporting to the Ministry for consideration and promulgation according to its authority or submitting to competent authorities to promulgate policies on exemption, reduction, extension of taxes, fees, land use fees... to continue removing difficulties for production and business, contributing to promoting economic growth.

The Minister requested the Customs sector to pay special attention to anti-smuggling, especially the smuggling of gold, foreign currency, and drugs while promoting the building of smart customs and upgrading information technology systems towards digitalization; ensuring equipment to serve the modernization of the customs industry.... For the Tax industry, the Minister is required to manage issues of tax collection on e-commerce platforms, electronic invoices, and anti-fraud of invoices…

Along with that, the Minister also requested specialized units to urgently finalize the budget; state financial reports; deploy and complete laws, decrees, and circulars early; complete the project to innovate the mechanism of decentralization of management and allocation of the state budget to ensure the leading role of the central budget and local budgets to report to the Government; preparing to develop budget estimates for 2025...

By Hoài Anh/Thanh Thuy

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