Minister Ho Duc Phoc: The Finance sector focuses on completing financial and budgetary tasks

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Minister of Finance Ho Duc Phuc delivered a speech at the Conference.

Reporting at the General Department of Customs, Mr Nguyen Van Can, Director General of the General Department of Customs, said that the state budget revenue of the Customs sector in 8 months is consistent with the context that import and export turnover of the whole country decreased by 12%.

Accordingly, the state budget revenue of the Customs industry in 8 months decreased by nearly 18% in the same period in 2022 due to the tax reduction policy. The trade surplus increased by 19 billion USD, so revenue decreased accordingly.

Focusing on the fight against drugs, from the beginning of the year until now, the Customs sector has presided over the seizure of nearly 1.5 tons of drugs. Regarding developing legal documents, the General Department is completing a report to the Ministry on specialized inspection and e-commerce management decrees.

Director General of the General Department of Customs Nguyen Van Can spoke at the Conference.

Speaking from the General Department of Taxation, Mr Mai Xuan Thanh, Director General of the General Department of Taxation, said that by September 5, 2023, total budget revenue managed by the Tax sector would reach 973 trillion VND, equal to 70.9 billion VND % of the estimate, revenue progress follows the estimate.

Stating that budget revenue in January reached 94 trillion VND and in August it was 75 trillion VND, the head of the General Department of Taxation expressed concern about signs of revenue reduction. With the above decline, budget revenue forecasts still have many risks.

In this context, the General Department of Taxation and local departments have discussed many solutions to implement collection work, reviewing potential revenue sources and periodically evaluating them to ensure the implementation of assigned budget collection tasks in 2023.

Information about value-added tax refunds: Mr. Mai Xuan Thanh said that the number of tax refunds has reached over 90% compared to the same period in 2022. Regarding the implementation of electronic invoices from cash registers, 24.61 million invoices were issued, equivalent to VND 26,700 billion in revenue. Regarding electronic invoices issued for each petroleum sale, Petrolimex Group is doing this job well. Shortly, the General Department of Taxation will submit to the Ministry of Finance in the direction that the entire petroleum industry will apply this invoice.

At the progress meeting, units under and directly under the Ministry of Finance also reported on the status of work implementation in August and the plan to implement tasks in September, exchanging difficulties, problems and solutions to successfully strive to complete assigned tasks in 2023.

Speaking at the Conference, Minister of Finance Ho Duc Phoc said that the socio-economic situation in the country has many difficulties that have affected the implementation of the tasks of the Finance sector. In that context, the Minister said that the more difficult it is, the more the industry must strive, unite, and confidently overcome it.

In particular, emphasizing that perfecting the law is a breakthrough for socio-economic development, the Minister requested units to focus on implementing this work, making efforts to complete the Ministry's law-building program, especially the Law on Management and Use of State Capital Invested in Production and Business at Enterprises; Law on corporate income tax, special consumption, and added value.

Additionally, focus on completing the development of circulars, decrees and decisions according to plan. Typically, the Decree amending Decree No. 67/2021/ND-CP amending Decree No. 167/2017/ND-CP regulating the rearrangement and handling of public assets, Decree on connecting and sharing data on import and export information, Decree on invoices, Decree on exploitation of aviation technical infrastructure.

The Minister requested the heads of relevant units of the Ministry of Finance to focus on building and completing on time, ensuring the quality of assigned mechanism and policy projects, and conducting good consultation with ministries and branches on time.

In particular, the entire industry needs to complete the assigned budget estimates. This is an important task in the Finance industry. Additionally, focus on digital transformation and information technology application to maintain its position as a leading unit, accelerate public investment disbursement, and strengthen inspection work.

The Minister also directed Information and propaganda work to focus on implementation so that people understand correctly and fully. Therefore, specialized units must coordinate closely with propaganda agencies to disseminate information promptly. Minister Ho Duc Phoc emphasized that, based on the scope of functions and tasks, he requested the heads of units to make efforts to lead and direct the units to unite and agree, trying to complete the tasks.