Domestic revenue: Many localities achieve good results
Customs makes every effort to collect revenue | |
Ha Noi Customs focuses on solutions to reduce State budget losses | |
Collecting more revenue from Tax inspections and auditing |
There are 46 provinces in the total of 63 on schedule with revenues of more than 75%. Photo: Thu Hang. |
Compared to the estimate, the total domestic revenue in the first 9 months of 2016 of many localities had good results, with 46 provinces in the total of 63 on schedule with revenues of more than 75%, and 30 provinces in the total with revenues of more than 80%. According to the General Department of Taxation, the main cause is an increase in land use fees of these provinces in the first 9 months of 2016. However, there are still 17 provinces at a low level with revenues less than 75%.
According to Taxation statistics, when excluding land use fees, the progress of domestic revenue is relatively slow, only 36 provinces in the total of 63 have revenues of more than 75%. On the top of the list of localities with revenues of more than 80% are Thai Nguyen, Quang Nam, Thai Binh, Hau Giang, Ha Nam, Bac Lieu, Kien Giang, Soc Trang. There are 27 provinces with revenues below 75%. Thus, there is a need to strengthen the management, exploitation and increase revenue through accelerating the progress of revenue tasks as requested by the Ministry of Finance and the General Department of Taxation, contributing to the accomplishment of assigned tasks.
Notably, in provinces with low revenues, Ba Ria - Vung Tau is a typical example with the revenue of 50% of the estimate. For this situation, the General Department of Taxation said that because the price of oil and petroleum dropped dramatically over the same period last year (a decrease of $US 18.6 per barrel compared to the estimate, and a decrease of $US 17.7 per barrel compared to the same period last year), there was a negative impact on revenues from petroleum processing and trading, the sale of crude oil, companies operating in the field of oil services, and contractors or subcontractors in the field of exploration of oil and petroleum, which reduces personal income tax collection.
On the list of localities with decreasing revenues, by the end of September 2016, Quang Ngai province had only reached 56.4% of the estimate, also due to a drastic decrease in the price of crude oil and petroleum. In addition, from March 17, 2016, the import duty for DO oil declined from 10% to 7%, resulting in the revenue of the Dung Quat factory only reaching 51.2% of the estimate, a decrease of 55.1% over the same period last year (equivalent to 11,050 billion vnd).
The General Department of Taxation explained that some provinces such as Kon Tum, Binh Thuan, Lam Dong, Son La, and Hoa Binh, etc which had a huge revenue from hydroelectric production were heavily influenced by the severe drought in the first 8 months of 2016, which has led to a decrease in hydroelectric production output.
By September 30, 2016, Hanoi had only collected 64% of the estimate. The main reason is that many enterprises immediately declare and pay corporate income tax in the fourth quarter of 2015 (about 5,800 billion vnd), therefore the revenue in early months of 2016 is lower. In addition, the revenue of State commercial banks reduced by 220 billion vnd, the revenue of post and telecommunications group fell by 4,500 billion vnd, and Viettel Mobile Group fell by 3,080 billion vnd over the same period. However, if we add taxes paid in December 2015, the domestic revenue of Hanoi in the first 9 months of 2016 also reached 75% of the estimate.
Domestic revenues for first 9 months of 2016 more than 75% of estimate VCN - According to the latest report of the General Department of Taxation, in the first 9 ... |
According to the General Department of Taxation, in the first 9 months of 2016, the revenue of most localities had increased over the same period last year (58 provinces of the total of 63 provinces). The economic situation in the last months of 2016 is expected to recover, production and business operations continue to grow and crude oil prices will fluctuate around $US 43-45 per barrel. Accordingly, the General Department of Taxation forecasts that the revenue in October 2016 will be approximately 85,400 billion vnd. Specifically, crude oil revenue is estimated at 2,200 billion vnd and domestic revenue is estimated at 83,200 billion vnd.
Related News
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Nghi Son port border gate customs: Stimulating demand for import and export through the seaport
06:47 | 30/04/2024 Customs
Ta Lung Customs' revenue flourishes
10:31 | 24/04/2024 Customs
Import-export turnover across Lao Cai International Border Gate surges
15:35 | 24/04/2024 Customs
Latest News
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Strictly monitor market fluctuations to appropriately adjust prices
14:46 | 27/04/2024 Finance
More News
Closely monitoring market fluctuations to consider appropriate time to adjust prices
09:30 | 26/04/2024 Finance
How does the Land Development Fund work effectively?
09:19 | 26/04/2024 Finance
Vietnam seeks to remove obstacles in upgrade of securities market
13:50 | 25/04/2024 Finance
Price stability from supply increase and transparency in trading in gold market
09:42 | 25/04/2024 Finance
SBV takes more actions to stabilise foreign exchange rates
13:43 | 24/04/2024 Finance
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT
10:35 | 24/04/2024 Finance
Corporate bond maturity in 2024 remains high: MoF
13:51 | 23/04/2024 Finance
Support clearance procedures for imported gold for bidding
09:33 | 23/04/2024 Finance
The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low
09:32 | 23/04/2024 Finance
Your care
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Strictly monitor market fluctuations to appropriately adjust prices
14:46 | 27/04/2024 Finance
Closely monitoring market fluctuations to consider appropriate time to adjust prices
09:30 | 26/04/2024 Finance