Inspectors discover mistakes in operating budgets

VCN - As financial management activities are increasingly simplified to help people, businesses, ministries, branches and localities, the inspection and examination work has become more important than ever to ensure transparency.In fact, the statistics over the past six months showed that, through inspection work, many mistakes have been discovered.
tin nhap 20190719150030 Specialized inspection of Treasury: Contributing to improving the responsibility of using the state budget
tin nhap 20190719150030 State revenue targets among Customs Departments are always adjusted
tin nhap 20190719150030 In the first 9 months, more than VND 8,087 billion from inspections paid to the State budget
tin nhap 20190719150030
The Finance sector has checked 138,364 tax returns at the tax office. Photo: T.Linh.

Proposal to handle 16.2 trillion VND

In the first six months of 2019, Inspectors of the Ministry of Finance and units with specialized inspection functions have carried out 25,173 inspections and checked 138,364 tax declaration dossiers at the tax office.

Through inspection and examination, it has proposed to handle 16.2 trillion VND, of which the recovery of state budget payment is 4.5 trillion VND; other financial handling proposals of 10.5 trillion VND; sanctioning administrative violations of over 1.2 trillion VND. The amount of money paid to the state budget is over 3.4 trillion VND.

Through financial inspections, the units are requested to review and urge the collection of tax debts and to sanction administrative violations; reorganize the management of construction investment capital, surveying, designing, estimating, bidding, in order to accelerate the implementation of projects. At the same time, to propose to ministries, branches and localities to supplement processes and to amend legal documents related to management, administration and policy mechanisms to be consistent with reality.

In the first half of the year, the Ministry of Finance Inspectorate alone implemented 12 inspections as planned, reaching 30.77% compared to 39 inspections and inspections according to the plan of 2019, equal to 54.5% compared to the same period in 2018.

Contents of inspections include management and administration of local budgets, management of capital construction investment, financial management at the non-business units, enterprises, and internal administrative inspections. The inspection and examination contents are scientifically integrated, contributing to shortening inspection and examination time. Through the results of 14 inspection conclusions and three reports of inspection results, the Finance Ministry Inspector has proposed financial handling of about 1.5 trillion VND.

Tran Huy Truong, Deputy Chief Inspector of the Ministry of Finance, said it has detected many problems and mistakes in all fields. For example, in the management and administration of local budgets, it detected that many localities have not yet approved the planning on the network of public non-business units and plans on autonomy for public non-business units; incorrectly issued the percentage of Special Consumption Tax revenues leading to a lack of central budget; and not yet issued enough regulations on fees in accordance with its competence.

There are some localities where the estimates for capital construction investment from the overspending source in the mid-term public investment plan for 2016-2020 are not appropriate to the competence compared with the provisions of the State Budget Law; allocating local budget capital for less important projects that extend the prescribed time limit; have not signed land lease contracts; not yet submitted to the Enterprise Arrangement and Development Support Fund; even approved and deployed investment projects beyond the ability to balance the local budget.

In the field of management of construction investment, corporate finance, price management and financial funds, Truong said that the units have conducted five inspections as per the plan and circulated three inspection conclusions from 2018. The mistakes were quite diverse such as approving the estimation of using non-compliant materials, improper preparation and approval of total cost estimates; not yet performed debt comparison; financial investment at risks of losing capital; accounting for lack of revenue and income; improper cost accounting; accounting for lack of profits. These inspection teams have proposed to handle 393.6 billion VND.

Prevent harassment and negative cases

In addition to the achievements, according to the inspection of the Ministry of Finance Inspectorate, some problems still exist. Specifically, the 2019 inspection plan of some units is not close to reality, leading to the adjustment of the inspection in the first months of 2019. Some inspections in the first six months of 2019 are still slow to release their conclusions. Some inspection teams implementing the weekly reporting regime are not detailed, specific, lack information, failing to meet the requirements for direction.

In order to improve the effectiveness of inspection and examination in the last months of the year, Tran Van Vuong, Chief Inspector of the Ministry of Finance, pointed out some key solutions. Firstly, organizing and promptly implementing the financial inspection in 2019 according to the approved plan; arranging forces and effectively deploying to complete 100% of inspection plans and unexpected tasks.

At the same time, arrange contingency forces in case of unexpected inspection under the direction of the Government and the Ministry of Finance; implementing the mechanism of supervising the inspection team to ensure prevention, detection, prevention and strict handling of cases of harassment, and negativity during the inspection and examination process. In particular, strengthening coordination between the Ministry of Finance Inspectorate and specialized inspection units in implementing thematic inspections and wide-area inspections to detect and handle violations; propose amendments and supplements to inappropriate mechanisms and policies to enhance financial management and discipline.

tin nhap 20190719150030 State Treasury will send message to announce the account balance to the unit using budget

A number of other points have been included in the report sent by the Ministry of Finance to the Government Inspectorate, such as continuing to focus on reforming and modernizing tax and customs inspection throughout the sector; intensifying the development of information technology applications in risk management and software analysis, classification of tax payers, customs declaration according to the risk level in order to detect violations, thereby strengthening inspection and examination to prevent fraud.

By Hong Van/Kieu Oanh

Related News

Lang Son Customs finds it difficult to collect and handle tax arrears

Lang Son Customs finds it difficult to collect and handle tax arrears

VCN - As of December 16, 2024, the total overdue debt for processed customs declarations at Lang Son Customs Department was more than VND180.7 billion, of which the unit conducted a charge-off debt of VND 93.9 billion. Although Lang Son Customs Department applied many measures, collection and handling of tax arrears is still a problem.
Hai Phong Customs sets new record in revenue of VND70,000 billion

Hai Phong Customs sets new record in revenue of VND70,000 billion

VCN – Hai Phong Customs Department set a new record in budget collection in 2024 with more than VND70,000 billion
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.
General Department of Customs strengthen discipline in public services

General Department of Customs strengthen discipline in public services

VCN - To strengthen administrative discipline, public service ethics and office culture, the General Department of Customs has seriously disseminated and concretized them into resolutions, directives, regulations and rules to ensure unified implementation throughout the system.

Latest News

Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN- On February 3, the first working day after the Tet holiday, Minister of Finance Nguyen Van Thang and the delegation visited and worked with the General Department of Vietnam Customs (GDVC).

More News

The stock market after Tết 2025 presents both challenges and opportunities

The stock market after Tết 2025 presents both challenges and opportunities

Việt Nam’s stock market following the 2025 Lunar New Year (Tết Nguyên Đán) presents a complex landscape of risks and potential gains, driven by foreign capital inflows, economic resilience, and looming corporate bond maturity pressures, according to one securities expert.
Opportunities and challenges in Việt Nam

Opportunities and challenges in Việt Nam's crypto boom

Việt Nam boasts one of the most active investment communities in the cryptocurrency sector. However, protecting investors and promoting sustainable growth requires a robust legal framework.
Đà Nẵng aiming to become a regional financial centre before 2050

Đà Nẵng aiming to become a regional financial centre before 2050

The city is setting out goals to promote the development of the financial system in the 2021-30 period, striving for Đà Nẵng to become a regional financial centre in just 25 years.
Which investments to make in 2025?

Which investments to make in 2025?

Financial reports indicate a large amount of cash in the banking system at the end of 2024. Investors in 2025 will have plenty of choices of where to put their money, according to economists and financial analysts.
5 strategies for reallocating houses and land

5 strategies for reallocating houses and land

VCN - The rearrangement and disposal of public-owned houses and land have been officially regulated in Decree No. 03/2025/ND-CP (Decree No. 03), which has just been issued by the Government. According to Decree No. 03, there are five forms of rearrangement and disposal of houses and land.
Stock market expected to rebound positively after Tết holiday: expert

Stock market expected to rebound positively after Tết holiday: expert

Currently, the VN-Index is fluctuating within a wide range of 1,200 to 1,300 points. Without a decisive breakout in either direction, this level of liquidity remains typical.
Ministry of Planning and Investment proposes piloting a cryptocurrency exchange at financial centres

Ministry of Planning and Investment proposes piloting a cryptocurrency exchange at financial centres

The Ministry of Planning and Investment (MPI) has proposed a controlled pilot programme for fintech activities, including digital asset and cryptocurrency trades at financial centres.
Banks selling mortgaged assets to recover bad debts

Banks selling mortgaged assets to recover bad debts

Many banks are rushing to sell mortgaged assets to recover bad debts, as these types of debts are forecast to increase slightly this year.
Keeping inflation in check a priority for 2025

Keeping inflation in check a priority for 2025

Economists have identified a range of factors that may exert inflationary pressure in 2025, including geopolitical risks, global trade disruptions and domestic challenges such as exchange rate fluctuations, rising import costs and natural disasters.
Read More

Your care

Latest Most read
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN - The market maintained stability, good liquidity, discipline was improved, increasing transparency and sustainability.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN - On the occasion of the Spring of At Ty 2025, on behalf of the Party Committee and the leaders of the Ministry of Finance, Minister Nguyen Van Thang respectfully sent his best wishes to all the GDVC's officials, civil servants and employees.
The stock market after Tết 2025 presents both challenges and opportunities

The stock market after Tết 2025 presents both challenges and opportunities

Việt Nam’s stock market following the 2025 Lunar New Year (Tết Nguyên Đán) presents a complex landscape of risks and potential gains, driven by foreign capital inflows, economic resilience, and looming corporate bond maturity pressures, according to one securities expert.
Mobile Version