State revenue reached 97.5 percent in eleven months

VCN – According to the latest report from the Ministry of Finance, total state revenue in November was estimated at VND 108.9 trillion. Thus, state revenue in eleven months reached VND 1,376.4 trillion, equivalent to 97.5 percent of the estimates, up by 11 percent overthe same period in 2018
11 thang thu ngan sach dat 975 vuot thu ca nam nam trong tam tay The fourth consecutive year the State revenue surpassed the estimate
11 thang thu ngan sach dat 975 vuot thu ca nam nam trong tam tay Customs generates nearly 1,350 billion VND to state revenue via post clearance audit
11 thang thu ngan sach dat 975 vuot thu ca nam nam trong tam tay Tax collection from business section increases by 13.6 percent
11 thang thu ngan sach dat 975 vuot thu ca nam nam trong tam tay
Domestic revenue is up by 13 percent compared to the same period in 2018. Photo: T.Linh

5 of 12 domestic revenues exceeded estimates

In the revenue structure, the domestic revenue in eleven months was estimated at VND 1,120.3 trillion, equal to 95.5 percent of the estimate, up by 13 percent from the same period last year.

Up untilthe end of November, 5 of 12 domestic revenues have exceeded the estimates including: revenue from land and house (133.3 percent of the estimate), revenue from lottery (106.7 percent of the estimate), revenue from granting rights of mining minerals and water resources (155.5 percent of the estimate), revenue from public land funds and other public benefits (125.1 percent of the estimate) and other budget revenues (123.6 percent of the estimate); revenue from environmental protection taxes and three direct revenues from production and business activities (accounting for nearly 54 percent of the domestic revenue) including revenues from state-owned enterprises and from FDI enterprise and from non-state economic sectors are still lower than the estimates (from 81 percent to 90 percent of the estimates).

It is estimated that 58 of 63 localities ensured the progress of domestic revenue, of which 39 localities have reached and exceeded the assigned estimates. Compared withthe same period in 2018, there are 56 localities with higher revenues; the 7 localities with lower revenues are HauGiang, Yen Bai, Quang Nam, HoaBinh, Lai Chau, Quang Ngai and Son La.

Particularly, the revenue from crude oil in November was estimated at VND 4.3 trillion. Based on the paid volume of 0.9 million tons, oil price was about US$ 64 per barrel. Thus, after eleven months, the revenue from crude oil was about VND 51.54 trillion, equal to 115.6 percent of the estimate, down 11 percent compared to the same period in 2018 due to the decrease in the paid volume and oil price.

Budget revenue from import-export activities in 11 months was estimated at VND 200.4 trillion, equal to105.9 percent of the estimate, up 7.2 percent over the same period in 2018, based on the estimated total tax revenue of VND 316.5 trillion, equal to 105.3 percent of the estimate, up 11 percent over the same period in 2018; VAT refund under the regime was about VND 116.1 trillion, equal to 104.3 percent of the estimate.

As of November 15, 2019, the Customs has conducted 3,070 post-clearance inspections, collected about VND 1,674 billion for thestate budget; chaired and coordinated with competent forces to handle13,794 violations in the customs area, collected about VND 352 billion forthe state budget, issued 36 decisions on prosecution and transferred to other agencies for prosecution 119 cases; collected about VND 721 billion of import-export tax debts.

The total volume of issued bonds until November 26, 2019 was 189.4 trillion VND of Government bonds (including 7 trillion VND issued to receive debt with Vietnam Social Insurance under the National Assembly’s Resolution) with an average term of 13.55 years and an average interest rate of 4.7 per cent / year.


More than VND 150 billion of wrong spending refused for payment

Total state spending in the 11months was estimated at VND 1,261.9 trillion, equal to 77.3 percent of the estimate, up by 4.2 percent compared to the same period last year

Of which, spending for investment development was VND 231.7 trillion, equal to 54 percent of the estimate, down by 3.3 percent from the same period last year; spending for debt interests was VND 96.89 trillion, equivalent to 77.6 percent of the estimate, up by 1.3 percent of the same period last year; recurrent spending was VND 895.67 trillion, equal to 89.6 percent of the estimate, up by 6 percent compare to the same period in 2018.

Till the end of November 25, 2019, the State Treasury system controlled the spending at VND 789.350 billion of recurrent spending (reaching 86.4 percent of the estimates) and VND 245.046 billion of investment development (reaching 57.1 percent of the capital plan).

11 thang thu ngan sach dat 975 vuot thu ca nam nam trong tam tay Hanoi Tax Department: State revenue in six months reaches over 50%

VCN - According to the Hanoi Tax Department, in the first 6 months, most of the revenue ...

Through the control of state spending, the State Treasury identified 17,125 ineligible expenditures and requested for supplementation of necessary procedures and refused to pay VND 72.1 billion for recurrent spending and VND 80.1 billion for investment development.

With the such collection, the balance of the central budget and local budget is ensured.

By Thuy Linh/ Huyen Trang

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