Revenue collection in the first half of the year achieves progress

	Revenue collection must be top priority
	Long An Customs put more efforts to collect revenue in difficult times
	Difficult economy have a strong impact on revenue collection

The Ministry of Finance directs units to review revenues in the area. Photot: Internet

Revenue in the first half of the year reaches VND 875.8 trillion

In the first six months of the year, the economy has tried to overcome post-Covid-19 problems while facing new difficulties and challenges arising from international and internal situation, the Ministry of Finance has directed agencies and units to implement solutions to strengthen the management of revenue collection and prevent revenue loss.

Accordingly, the Ministry of Finance has requested the units to review revenues in the area and manage 100% enterprises engaged in real estate, e-commerce, business on the digital platform; manage revenues from foreign suppliers without a permanent establishment in Vietnam; strictly control value-added tax refund to comply with the law; urge the collection and handling of tax debts.

In June, the revenue is estimated at VND93.5 trillion, meeting 5.8 of the estimate. The revenue in the first six months of the year is estimated at VND875.8 billion, meeting 54% of the estimate, including the central revenue at 57.1% of the estimate and local revenue at 50.6%.

Specifically, revenue from crude oil is expected to reach VND30.6 trillion, meeting 72.9% of the estimate, down 15% over the same period while the balance revenue from import and export is estimated at VND126.4 trillion, meeting 52.9% of the estimate, down 20.6% over the same period of the previous year.

The Ministry of Finance said that the domestic revenue in 2023 is estimated at VND1,334.2 trillion. The revenue in the first six months of the year decreases by 4.7% year-on-year to VND718.8 trillion, meeting 53.9% of the estimate. The revenue from land use fee is estimated at VND150 trillion. In the six months, the revenue reaches VND47.6 trillion, meeting 31.7% of the estimate.

According to the Ministry, due to the impact of the quiet real estate market, the revenue from land use fees in the first months of the year plunges, meeting 43.2% year-on-year.

The remaining domestic revenues (excluding the revenues from land use fees, lottery, capital recovery, dividends, profits, profit after tax and the difference between revenues and expenditures of the State Bank) are estimated at VND1,069.4 trillion. The revenue in the first half of the year drops 1.6% year-on-year to VND577.9 trillion, reaching 54% of the estimate.

The revenue from three economic sectors increases is estimated at 54.7% of the estimate, up 2.8% over the same period of the previous year. However, excluding CIT, the revenue of these sectors reaches only 86.5% year-on-year.

Budget expenditure only reaches 38.8% of the estimate

The Ministry of Finance has implemented many solutions to strictly control expenditures and save recurrent expenditures.

The State Treasury and Finance agencies at all levels have strengthened the control of state budget expenditures, complying with policies, regimes, standards, norms, simplifying procedures, shortening time, creating favorable conditions for budget users and investors.

The Finance sector has strengthened inspection and examination, and improved financial and budgetary discipline. The sector has promoted administrative reform, digital transformation, IT application, especially in the fields of taxation, customs, state treasury which are directly related to people and businesses.

The state budget expenditure in June is estimated at VND155.9 trillion. In the first six months of the year, the expenditure grows 12.9 % year-on-year to VND 804.6 trillion, meeting 38.8%. The central budget has spent VND700 billion mainly for Covid 19 prevention and support people affected by the pandemic, and plant varieties, livestock…

The Ministry of Finance said that the central and local budgets are maintained. The achievements of revenue collection in the first half of the year have contributed to the socio-economic development, inflation-control target and removal of obstacles for businesses and people.

In the near future, the Ministry of Finance determines to drastically implement revenue collection; strives to achieve and exceed the estimate decided by the National Assembly, and offset the decrease in revenue due to the implementation of support policies.

The Ministry will also improve institutions, policies and laws on state revenue collection; strengthen the management of revenue, prevent revenue loss, handle tax debts and collect revenues under the conclusions and recommendations of the State Audit and Inspectorate authorities.

In addition, the Ministry will strictly and effectively control the State expenditure under the estimate; speed up the disbursement of public investment plans, especially foreign loans and funds from national target program; strive to disburse 95% of the capital plan in accordance with the direction of the Prime Minister.