Perfect legal system on finance and budget in effective manner: Minister of Finance

	Minister of Finance Ho Duc Phoc appointed as Deputy Director of the Permanent Committee of the Steering Committee 389
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Minister of Finance chaired the conference.

State revenue reaches significant in the first four months

The Ministry of Finance reported that total State revenue in the first four months is estimated at VND 543.4 trillion or 40.5% of the estimate. Domestic revenue is estimated at VND456.3 trillion and revenue from crude oil is expected to reach VND12, 000 billion.

Director General of Vietnam Customs Nguyen Van Can said the whole Customs sector tackled 1,397 violations; the estimated value of infringing goods is more than VND113 billion 393 million and collected VND11billion 564 million. It prosecuted three cases and transferred five cases to other authorities for prosecution.

Total balanced expenditure is VND463.7 trillion, of those, expenditure on development investment, interest payment, recurrent expenditure is VND86 trillion, VND38.8 trillion and VND338.1 trillion, respectively.

Budget expenditures in the first four months of the year are performed in tandem with the estimate and progress of budget-using units, meeting the needs of socio-economic development and national defence, security, State management and debt payment, and ensuring expenditures for social security.

The central and local budgets have prioritised for the prevention and control of Covid-19 pandemic, overcoming the consequences of natural disasters and diseases, performing important political tasks, ensuring national defence and security, and well implementing social security policies.

The central budget has made a provision of nearly VND3 trillion, with VND1,740 billion for the Ministry of Health to import vaccines worth VND1,237 billion and purchase medical supplies, chemicals, biological products and necessary equipment for Covid-19 prevention and control; and supported VND314 billion for localities to prevent the Covid-19 pandemic.

Focus on completing the Financial sector development strategy for 2021 - 2030

At the conference, Minister of Finance Ho Duc Phoc said that the finance sector has made efforts to basically complete its tasks in April 2021.

The minister requested the whole sector work to complete the financial sector development strategy for 2021-2030, develop and complete the State Treasury Development Strategy, the Customs sector development strategy by 2030 and complete four projects, including documents submitted to the Government on principles, criteria and norms for the allocation of recurrent expenditures from the State budget in 2022.

Complete and promulgate documents on schedule, ensure quality, consistent with the Constitution, without overlapping to create momentum for the development; submit to the Government a budget decentralisation project in accordance with allocation of the central budget and the initiative of the local budget.

The minister asked the units under the Ministry of Finance to closely monitor and prevent Covid-19 pandemic effectively, administer budget in a proactive and a flexible manner, ensuring sustainable national finance.

The General Department of Taxation is required to focus on performing budget collection, preventing transfer pricing, piloting and issuing legal documents on digital-based tax collection, applying issue e-invoice, and completing tax regulations.

The minister asked the General Department of Vietnam Customs to perform effectively revenue collection, control customs clearance, strengthen the anti- smuggling and perfect policies.

He also required the State Treasury to advise and submit to the Ministry of Finance to submit to the Government the report on State budget settlement in 2019, the State financial report in 2019 and report to the National Assembly in a timely fashion; create the most favourable conditions for expenditures in the direction of implementing the three nos (no cash payment, no customer contact, no paper invoices).

The minister also emphasised that the Ministry of Finance has fully prepared funds to buy supplies, equipment and vaccines for pandemic prevention and control. Along with that, departments of the Ministry of Finance must urgently review and promptly issue guiding documents on the procurement of pandemic prevention equipment nationwide.