Hanoi State Treasury: Expenses control effectively and properly

VCN - In the first 6 months of the year, the Hanoi State Treasury has closely followed the State revenue estimates in 2019 and strengthened the expense control of budget in order to ensure savings and efficiency.
hanoi state treasury expenses control effectively and properly
The state revenues collected through Hanoi State Treasury on June 15 reached 112,091 billion VND, equaling 42.6% of the estimate. Photo: Thùy Linh

Accurately regulate revenue for each budget level

According to the latest report by the Hanoi State Treasury, the total budget revenue in Hanoi in the first 6 months was estimated at 50.2% of the estimate. In particular, the state revenues collected through Hanoi State Treasury on June 15 reached 112,091 billion VND, equaling 42.6% of the estimate. Along with that, the total state budget expenditure in the whole province reached 48,173 billion VND (of that, the central budget expenditure reached 24,813 billion VND and the local budget reached 23,360 billion VND).

According to Ms. Nguyen Thi Thanh Huong, Director of Hanoi State Treasury, in recent years, through closely following the estimation of the State revenue in 2019, Hanoi State Treasury has actively coordinated with the Hanoi Department of Finance, Hanoi Tax Department and Hanoi Customs Department and the system of commercial banks in time and fully collected revenues into the state budget, accurately regulate each revenue for each budget level. The reported data has been updated promptly and uniformly between the budget management agencies in order to help local administrations at all levels to take the initiative in managing the state budget fund.

In controlling budget expenditures, Hanoi State Treasury has continued to strengthen the control of state budget expenditure in order to ensure savings, proper processes and efficiency. Specifically, the unit has controlled the expenses for asset procurement in the state budget plans and estimates which already approved by competent authorities in accordance with standards and norms.

With the control and payment of local budget investment capital, Hanoi State Treasury has regularly reported to the People's Committee of Hanoi City about the disbursement process so that the city could take measures to direct and operate the capital construction fund flexibly and guarantee payment needs for projects.

Notably, Hanoi State Treasury has implemented simultaneously and expanded its network, diversified forms of payment (by cash, bank transfer, card acceptance machine, internet banking, mobile banking). At the same time, Hanoi State Treasury opened collection accounts at commercial bank branches (Vietinbank, Vietcombank, BIDV, Agribank and MB) with hundreds of state budget collection points, ensuring material facilities, equipment and technology to meet the demand for collection and payment, facilitating enterprises and economic organizations to pay taxes. These forms of payment have contributed to reduce tax payment time for people and businesses.

In particular, Mrs. Huong said that in the first 6 months, Hanoi State Treasury has continued to promote the deployment of online public services at level 3 to all units using the transaction budget at Hanoi State Treasury. This was one of the basis for Hanoi State Treasury to reach e-treasury in 2020.

Speeding up disbursement progress

According to information from Hanoi State Treasury, Mrs. Huong said that in the first 6 months, the disbursement rate of capital construction investment through Hanoi State Treasury was still low. Specifically, as of June 15, only 5,633 billion VND was disbursed, accounting for 16.4% of the plan.

Mrs. Huong affirmed that from now until the end of the year, Hanoi State Treasury would urgently implement the disbursement of investment capital under the directives of the City People's Committee. At the same time, the unit would continue to urge the disbursement progress of investment from the local budget, striving to complete the assigned capital plan by the end of the year.

Hanoi State Treasury would also focus on controlling the state budget expenditure lawfully, effectively, in a timely manner, ensuring savings, combating waste, reducing the proportion of regular expenditures, increasing investment spending for key projects, especially transport infrastructure work to serve the city's economic development.

Hanoi State Treasury would continue to strengthen coordination with collection agencies, focus and reflect fully and promptly state revenues. To collect the amount of money paid by organizations and individuals; make accounting of the state revenues for the budget levels in accordance with the provisions of the State Budget Law and competent state authorities.

By Thùy Linh/Thanh Thuy

Related News

VND 479 Billion contributed to state budget from violations handling

VND 479 Billion contributed to state budget from violations handling

VCN - From December 15, 2023, to October 14, 2024, market surveillance forces nationwide conducted inspections of 61,079 cases, uncovering and handling 41,725 violations.
Mong Cai Customs sets new record in revenue collection

Mong Cai Customs sets new record in revenue collection

VCN - The Mong Cai Border Gate Customs Branch, under the Quang Ninh Customs Department, has set a new record for the highest state revenue collected to date.
State revenue collection poised to surpass annual target

State revenue collection poised to surpass annual target

VCN - With ten months of 2024 behind us, Vietnam’s state budget revenue is on track to exceed the year’s target. The Ministry of Finance is pushing hard to achieve results that go beyond initial projections as the year draws to a close.
Nghe An Customs surpasses challenges, achieves revenue target ahead of schedule

Nghe An Customs surpasses challenges, achieves revenue target ahead of schedule

VCN - In 2024, the Nghe An Customs Department tackled state revenue collection amid significant socio-economic challenges. Despite these hurdles, the department reached 111.07% of its assigned revenue target within the first 10 months, achieving its annual goal well ahead of time.

Latest News

Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN – In order to achieve goal of strictly managing public debt and maintaining security and safety of the national financial system in 2025, it is necessary to ensure the borrowings and repayments of public debts is within the approved estimate; closely monitor public debt indicators to ensure that they are within the ceiling and warning thresholds approved by the National Assembly.
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

VCN - On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws. Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai emphasized the need for the Government to direct the drafting body and relevant agencies to collaborate closely to finalize a persuasive and widely supported report, ensuring the quality of the draft law for the National Assembly's consideration and decision.

More News

Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
State-owned securities company trails competitors

State-owned securities company trails competitors

Contrary to the outstanding performances in the banking sector, the securities subsidiaries of major banks have yet to fully leverage their potential, despite numerous inherent advantages.
Strengthening the financial “health” of state-owned enterprises

Strengthening the financial “health” of state-owned enterprises

VCN - The state economy plays a key role in the socio-economic development process, but it is necessary to strengthen the financial health and competitiveness of state-owned enterprises (SOEs).
U.S. Treasury continues to affirm Vietnam does not manipulate currency

U.S. Treasury continues to affirm Vietnam does not manipulate currency

VCN - In its latest report, the U.S. Department of the Treasury has positively assessed Vietnam's monetary policy, reaffirming that Vietnam does not engage in currency manipulation.
Exchange rate fluctuations bring huge profits to many banks

Exchange rate fluctuations bring huge profits to many banks

Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
A “picture” of bank profits in the first nine months of 2024

A “picture” of bank profits in the first nine months of 2024

VCN - Pre-tax profits for banks during the first nine months of 2024 remained positive, exceeding 200 trillion VND, solidifying the sector's position as a market leader.
Many challenges in restructuring public finance

Many challenges in restructuring public finance

VCN - Restructuring public finance is an important step to improve state financial management, ensure resources are allocated reasonably and effectively, contributing to the country's sustainable development. In addition to the achieved results, the process of accelerating public finance restructuring also faces many pressures.
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

VCN - E-commerce platforms that declare and pay taxes on behalf of traders not only help to reduce the number of tax declaration points but also reduce the cost of compliance with administrative procedures for the whole society because only one point as the e-commerce trading platform implements tax deduction, payment and declaration on behalf of tens, hundreds of thousands of individuals and business households on the platform.
Disbursement of public investment must be accelerated: Deputy PM

Disbursement of public investment must be accelerated: Deputy PM

Deputy Prime Minister Ho Duc Phoc has called on ministries, agencies, and localities to accelerate the disbursement of public investment from now until the year-end and further tighten investment management.
Read More

Your care

Latest Most read
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN - According to the plan for borrowing and repaying public debt and foreign debt of the country in 2025, the total borrowing demand of the Government in the year is expected to be at VND 815,238 billion, an increase of 20.6% compared to the Government'
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
Mobile Version