Difficulties in the economy have a substantial impact on budget collection

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Budget revenue in the tax sector's first 5 months of 2023 ensures the estimate. Illustration: H.Anh

Total revenue is estimated at 663,843 billion VND

Facing the difficult situation of the economy and to perform well the task of budget collection in 2023, right from the beginning of the year, the tax sector has analyzed, evaluated and found specific solutions that need to be focused on implementation, primarily focusing on reviewing and accurately identifying potential revenue sources, untapped revenue sources, which still have room to organize the assignment of tasks to each civil servant, to each unit and each locality for implementing, exploiting to increase revenue, make up for revenue shortfalls; strengthen inspection and control against loss of budget revenue, collect tax debt, strive to complete the task of state budget collection in 2023.

In addition, the tax sector continues to implement support packages for businesses well, promptly remove difficulties for businesses, create momentum for businesses and people to quickly restore production and business activities and develop stably, promoting economic growth, creating a sustainable source of revenue for the state budget; focus on solutions to find revenue sources, offset some revenues, and reduce taxes; strengthen inspection and examination; management, urging debt recovery; tax refund; carry out disciplinary work in the whole industry.

The results show that, in the first 5 months of 2023, the total state budget revenue managed by the tax sector is estimated at 663,843 billion VND, equaling 48.3% of the estimate, equaling 96.9% over the same period. Compared with the estimate of 12/20 revenues, the tax revenue has increased over the same period (over 48%); some significant revenues, such as the SOE sector, are estimated at 52.9%; industry, commerce and non-state services sector is estimated at 49.8%; personal income tax is estimated at 50.3%; dividend income and remaining profit are estimated at 59.1%. At the same time, 8/20 revenues are lower than in 2022, below 48%. The environmental protection tax is estimated at 53 %%; the registration fee is 72.5%; land use levy is 44.6%; the collection of land and water surface rents is 48.9%.

According to the General Department of Taxation, from the beginning of the year to May 15, 2023, the whole tax sector has carried out 14,727 inspections, equaling 121.1% over the same period in 2022, and checked 160,460 tax records at the tax office. The total amount proposed to be handled through inspection and examination is 20,382 billion VND, equal to 217.5% compared to the same period in 2022. Specifically: the total amount of increased tax collected through inspection and examination is 4,721 billion VND; deduction of 472 billion VND; loss is 15,189 billion VND. The inspection and re-determination of the market price for related-party transactions have collected 243.3 billion VND, reduced the loss of 5,021 billion VND, and adjusted to increase taxable income by 98.8 billion VND. Also, in the first 5 months of the year, the tax sector recovered 18,408 billion VND of tax debt. According to Resolution No. 94 of the National Assembly, debt freezing and cancellation accumulated by the end of May 2023 was estimated at VND 36,968 billion. Tax debt settlement is 28,983 billion VND; the settlement of late payment fines and interest is VND 7,985 billion.

Actively advise on scenarios of budget revenue management

In the coming time, to ensure the good implementation of the task of budget collection, the tax sector will actively follow the domestic and international situation to analyze and assess the impact of the monetary and fiscal policies that other countries have carried out on production and business activities of domestic enterprises to identify risks, and at the same time actively advise on scenarios and solutions for budget revenue management. In addition, the Tax sector will continue to organize effective tax management for foreign suppliers, accordingly, review, build a list, and urge foreign suppliers that have not yet registered for the tax to declare and pay taxes on the website of the General Department of Taxation; promptly solve problems for foreign suppliers to fulfil their tax obligations as prescribed.

Along with that, continuing to reform and modernize the tax system, simplify tax administrative procedures, maintain tax declaration and payment services, electronic tax refund, electronic invoice system; ensuring a 24/7 IT system to support taxpayers to fulfill their obligations to the state budget from registration, declaration, tax payment, and electronic tax refund without having to go directly to the tax office; continue to implement according to the progress of electronic projects such as: tax payment services for land, business households and individuals; continue to deploy electronic registration fee payment for cars and motorbikes; pilot electronic tax declaration for house rental activities; to step up the provision of electronic tax search, registration, declaration and payment services for individual taxpayers, especially focusing on propagating and popularizing the use of mobile tax payment applications; study the plan to connect with commercial banks to have full data on taxpayers, ensure full control of income and tax obligations, avoid loss of state budget revenue, thereby, improve work efficiency tax management, contributing to the completion of assigned tasks.

At the conference to evaluate the implementation of tax work in May and the tax work program in June organized by the General Department of Taxation, Acting Director of the General Department of Taxation Mai Xuan Thanh emphasized, in general, although the progress Budget revenue in the first 5 months of 2023 guaranteed the estimate. However, there was a decrease compared to the same period, showing that the economic difficulties have strongly impacted the sector's budget collection tasks and are forecasted to affect the economy negatively. In addition, the state budget collection task in 2023 will also be significantly affected by the implementation of the State's support packages, which are expected to continue in the coming time. In that context, to perform the assigned tasks well, Mr Mai Xuan Thanh suggested that the whole industry continue to review, analyze and carefully evaluate the revenue of the first 5 months of the year and accurately identify potential revenue sources. The potential and revenue sources have not been fully exploited; there is still room, on that basis, to organize to assign tasks to each officer, each unit and each locality to have solutions to exploit to increase revenue to make up for the shortfall in revenue. At the same time, urgently speed up the implementation of the approved inspection plan; complete the application of blocking e-invoices to be put into operation soon; review and evaluate the current status of the application of electronic invoices generated from cash registers; analyze and evaluate inadequacies, shortcomings and difficulties to advise the General Department of Taxation to have timely solutions to direct and ensure successful implementation nationwide following the direction of the Government and the Ministry of Finance.