Focus on implementing key tasks to complete the 2024 financial and budget tasks

	Minister Ho Duc Phoc: The Finance Sector has successfully completed its financial and budget tasks in 2023
	Finance industry excellently accomplishes financial and budget tasks in the first half of 2024: Minister Ho Duc Phoc

Conference scene at the point of Ministry of Finance .

Total budget revenue managed by the Tax Authority reaches over 70% of the estimate

According to the Ministry of Finance, the total budget revenue in the first 7 months of 2024 is estimated at VND 1,188.1 trillion, equivalent to 69.8% of the estimate, up 14.6% over the same period in 2023. Of which, central budget revenue is estimated at about 74.7% of the estimate; local budget revenue is estimated at about 65% of the estimate.

Total balanced state budget expenditure in July is estimated at VND 152.6 trillion. Accumulated expenditure in the first 7 months is estimated at VND 948.3 trillion, equivalent to 44.7% of the estimate, up 0.6% over the same period in 2023.

The balance of the central budget and local budgets is ensured. As of July 25, 2024, nearly VND 188 trillion of government bonds have been issued with an average term of 10.9 years and an average interest rate of 2.4%/year.

In July, the Tax and Customs authorities continued to implement policies on tax, fee, charge and land rent exemption, reduction and extension to support businesses and people. The total amount of exemption, reduction and extension is estimated at VND 87.2 trillion by the end of July.

Minister of Finance Ho Duc Phoc speaks at the Conference

Reporting at the conference, General Director of the General Department of Taxation Mai Xuan Thanh said that in the first 7 months of the year, the total budget revenue managed by the Tax authority reached over 70% of the estimate.

Regarding tax management of e-commerce business activities, Mr. Mai Xuan Thanh said that the management has initially entered into order with diverse methods such as open letters sent to organizations and individuals doing e-commerce business, doing business on digital platforms in Vietnam to discuss the implementation of tax obligations for this activity.

Along with that, providing a set of documents guiding tax registration, declaration, tax payment and email lists of tax authorities for taxpayers to proactively contact when having problems, etc thereby, reviewing and filtering taxpayers who intentionally commit fraud will be transferred to the competent authorities for handling.

Ensure smooth operation of the Finance sector's information technology system

From the General Department of Customs, Deputy Director General of the General Department of Customs Nguyen Van Tho said that in terms of import-export tax collection, in July, the budget revenue of the Customs sector reached VND 35,650 billion, up 27% of the estimate and the total revenue for 7 months reached VND 337,527 billion, reaching 63% of the estimate, up 11.3% compared to last year. With the current progress, the Customs will exceed the assigned estimate.

Deputy Director General of the Customs General Department Nguyen Van Tho spoke from the point of General Department of Customs.

Regarding the fight against smuggling and trade fraud, the Deputy Director General said that the situation of smuggling and trade fraud, especially drug smuggling, is still complicated on roads and air routes. The screening system detected a large amount of drugs brought in through border gates.

Regarding this issue, Deputy Director General Nguyen Van Tho also requested the Ministry of Finance to pay attention to researching and supplementing human resources for the Customs force at border gate locations.

Sharing information about the handling of the incident of the General Department of Customs' information technology system on the evening of August 6, Deputy Director General Nguyen Van Tho said that the General Department of Customs focused on directing the resolution immediately on the night of August 6 and by August 7, the incident had basically been resolved. On August 7, customs clearance activities were a bit congested at the border gate, but were basically resolved.

The General Department of Customs has sent a document to seaport authorities, shipping lines, transport units, etc and related agencies to coordinate well, thus not causing congestion of flights and trains.

Through this incident, the leaders of the General Department of Customs also requested the Ministry of Finance to study and develop a circular to have a mechanism to handle emergency situations.

At the conference, assessing the performance of the units, Deputy Minister of Finance Vo Thanh Hung noted that in August and the coming time, the units need to focus on implementing the task of building the State budget estimate for 2025; building a directive to strengthen revenue management; controlling price levels; speeding up disbursement, etc.

Pay special attention to the task of preparing documents and necessary contents to serve the National Assembly session in October, especially the laws and resolutions that will be commented on and approved; promote information and propaganda work, focusing on laws related to taxes, etc.

Concluding the Conference, Minister Ho Duc Phoc requested units to focus on implementing key tasks and issues to complete the 2024 financial and budgetary tasks.

The Minister also requested that, for the 2025 budget estimate, the budget estimate development work must ensure quality, progress and must cover all activities.

For the work of building legal policies, it is necessary to review the work of building and perfecting the system of legal documents in the direction of removing difficulties for enterprises to promote production and business, create a favorable investment and business environment, and create momentum for economic development.

The Minister also requested to ensure smooth, continuous operation and update the information technology system, especially in key areas such as tax, customs, and securities.