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

VCN - Speaking at the briefing conference to deploy financial and budget tasks in September 2023 held on the afternoon of September 7, Minister of Finance Ho Duc Phoc requested the entire Finance sector to strive to complete proposed financial and budget tasks.
Finance-banking sector fulfills 2022 goals: minister Finance-banking sector fulfills 2022 goals: minister
Urgent capital needs for projects of the General Department of Taxation and the General Department of Customs Urgent capital needs for projects of the General Department of Taxation and the General Department of Customs
Insist on the goal of removing difficulties for people and businesses, Minister Ho Duc Phoc Insist on the goal of removing difficulties for people and businesses, Minister Ho Duc Phoc
Minister Ho Duc Phoc: The Finance sector focuses on completing financial and budgetary tasks
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.

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

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.

By Thu Hien/Phuong Linh

Related News

Finance sector exceeds revenue target in 4 years thanks to comprehensive reform of collection method

Finance sector exceeds revenue target in 4 years thanks to comprehensive reform of collection method

VCN – The revenue collection method of the Customs and Tax sectors has been comprehensively reformed, contributing to exceeding the revenue target of about VND1 quadrillion over the past four years, Deputy Prime Minister and Minister of Finance Ho Duc Phoc said.
Finance sector urgently amends 7 Laws to remove bottlenecks and promote economic growth

Finance sector urgently amends 7 Laws to remove bottlenecks and promote economic growth

VCN - Emphasizing that the development of one law to amend many laws is an important and urgent task of the Ministry of Finance, the Minister of Finance requested relevant units to promptly implement the shortened process to speed up the progress of law development and ensure quality.
Managing fiscal policy has achieved many positive and comprehensive results

Managing fiscal policy has achieved many positive and comprehensive results

VCN - On July 15, the Ministry of Finance held an online conference to summarize state budget financial work in the first 6 months of the year, implementing tasks in the last 6 months of 2024. Minister of Finance Ho Duc Phoc attended and directed the conference. Also attending the Conference were Deputy Ministers of Finance, leaders of units under the Ministry of Finance.
The local Finance sector is flexible and strict in managing budget revenues and expenditures

The local Finance sector is flexible and strict in managing budget revenues and expenditures

VCN - Although the forecast for the last 6 months of the year will still have many difficulties and challenges, the Finance sector in all localities expressed their determination to strive to achieve and exceed estimates, while strengthening the prevention of revenue loss and handling tax debt recovery, etc.

Latest News

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).
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.

More News

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.
Debt repayment pressure continues to weigh on corporate bond market

Debt repayment pressure continues to weigh on corporate bond market

An alarming 22 per cent of corporate bonds maturing in January 2025 are at risk of defaulting on principal payments, according to a report from VIS Rating.
2025 a new era for financial institutions

2025 a new era for financial institutions

Recent adjustments to Việt Nam’s economic growth forecasts from major financial institutions highlight growing confidence in the country’s economic trajectory.
Read More

Your care

Latest Most read
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.
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.
Mobile Version