Strictly supervise all activities of the stock market

Scene of the meeting

Total state budget revenue reached over VND657,000 billion

According to the Ministry of Finance's report, in April, the total state revenue collection was estimated at VND160.2 trillion, an increase of VND3.2 trillion compared to the previous month.

Accordingly, domestic revenue is estimated at VND129.5 trillion, increasing by about VND9 trillion compared to the previous month; revenue from crude oil was estimated at VND6.6 trillion, declining about VND1.3 trillion from the previous month; and revenues from import and export activities were estimated at VND24.1 trillion, decreasing by about VND4.4 trillion from the previous month. Based on total tax revenue, it reached VND35.8 trillion, dropping by about VND3.7 trillion from the previous month; VAT refund following the regime in the month was about VND11.7 trillion.

In four months, state budget revenue is estimated at VND645.3 trillion, equaling 45.7% of the estimate, up 13.3% over the same period in 2021 (the central budget is estimated at 46.4% of current appropriation; the local budget is estimated at 45% of current appropriation). In particular, domestic revenue is estimated at VND520.3 trillion, equaling 44.2% of current appropriation, increasing 9.1% over the same period in 2021.

Updated data by the end of May 3, 2022 on Tabmis system, the revenue reached VND657.408 trillion, equaling 46.57% of current appropriation. While the central budget reached 47.04% of current appropriation, the local budget reached 46.05% of current appropriation.

According to the Ministry of Finance, the total state budget balanced expenditure in April is estimated at VND132.8 trillion; accumulated spending in four months reached VND470.2 trillion, equaling 26.3% of current appropriation, rising 2.4% over the same period in 2021.

Regarding corporate financial management and equitization and divestment of state-owned enterprises, in the first four months of 2022, the units continued to implement the equitization work following the approved plan.

In addition, adding one equitized enterprise that was An Giang Ferry Company Limited (officially transformed into a joint-stock company in 2021) to the list of equitization for the 2017-2020 period approved by the Prime Minister with a total value of VND309 billion, of which the actual value of state capital is VND278 billion.

Regarding the stock market, as of April 29, 2022, the VN-Index reached 1,366.8 points, declining 8.4% compared to the end of last month and down 8.8% compared to the end of 2021. The HNX-Index closed at 365.83 points, falling 18.6% compared to the end of last month and down 22.8% compared to the end of 2021.

The market capitalization of the three stock exchanges (HoSE, HNX and UPCoM) on April 29 reached VND7,166 trillion, decreasing by 7.7% compared to the end of 2021, equivalent to 85.3% of GDP. In terms of transaction size, in April, the average transaction value reached VND26,299 billion/session, declining 19% compared to the previous month. In general, since the beginning of the year, the average trading value has reached VND29,924 billion/session, increasing 12.5% ​​compared to the average of the previous year.

Coordinate and perform financial and budgetary tasks

Speaking at the conference, Director General of Vietnam Customs Nguyen Van Can said that in the first four months of 2022, revenue collection of the Customs sector reached 40% of the striving target set by the Ministry of Finance. This achievement showed the effort of the Customs sector in actively implementing measures to facilitate trade and prevent revenue loss in terms of quantity and price.

Regarding the implementation of the conclusions of the civil affairs committee of the Ministry of Finance in Decision 97/QD-BTC dated January 26, 2020 of the Ministry of Finance on approving the policy "Hiring information technology services to perform Digital Customs", the Customs authority consulted with relevant functional units under the Ministry of Finance, received comments and made suggestions to clarify a number of contents in Decision 97. After consulting with the Ministry, the Customs authority will implement the decision, issue bidding documents, and adjust the plan in accordance with regulations, publicity and transparency.

Deputy Director General of Taxation Phi Van Tuan said that, regarding the implementation of electronic invoices, on April 21, 2022, the General Department of Taxation activated the electronic invoice system, so far, there have been 681,000 businesses registering to implement e-invoices.

Besides six provinces that have implemented phase 1, there are 57 provinces that have implemented phase 2, so far the progress in implementing e-invoices has been satisfactory.

All localities have achieved the objective of over 50% of enterprises in the area registering to use e-invoices. Many localities have reached 70%, 80%, and 90% of registered enterprises.

In addition, the implementation of eTax Mobile has reached over 43,000 taxpayers who have registered for tax payment accounts via the app. This is a method of extending services to taxpayers, especially individual taxpayers. The portal for foreign providers was also announced and put into operation on April 21. So far, 13 foreign suppliers registered, of which five providers have declared and paid VND42.3 billion.

The conference also noted the opinions of representatives of units under the Ministry of Finance; the professional guidance of Deputy Ministers Vu Thi Mai, Nguyen Duc Chi, Vo Thanh Hung.

Concluding the conference, Permanent Deputy Minister of Finance Tran Xuan Ha suggested that the units should urgently complete legal documents, especially laws that will be submitted to the National Assembly in this term, and decrees following the programs and tasks.

At the same time, he requested the units should coordinate in performing financial and budgetary tasks following the approved state budget estimate in 2022. In particular, in terms of revenue collection, the Deputy Minister asked the units to make efforts and try to strengthen the collection to compensate for the VND67 trillion due to tax exemption and reduction.

Regarding capital mobilization, the Deputy Minister requested units to focus on mobilizing capital according to the 2022 state budget estimate approved by the National Assembly. At the same time, the units are required to assess the ability to mobilize capital domestically in order to have an appropriate plan, including an assessment of interest rates, and an appropriate interest rate roadmap to avoid interest rate spikes.

Regarding the implementation of a support program for economic recovery and development, it is necessary to coordinate with the Ministry of Planning and Investment to participate in allocating investment capital following programs and projects, considering the possibility of disbursement in 2022 - 2023; cooperate with the State Bank and the Bank for Social Policies on formulating a policy on granting interest rate compensation, thereby considering the task of mobilizing capital to provide interest rate compensation.

The Deputy Minister also emphasized that the State Budget Department would chair the overall assessment of the ability to perform budgetary financial tasks and assess the ability of budget revenue and expenditure in 2022.

The related units such as the General Department of Taxation, the Department of Public Property Management need to evaluate and complete legal documents such as the decree on the extension, postponement and reduction of land rent, delay in the payment of excise tax for domestically produced cars in order to complete the support program for economic recovery and development.

Regarding the stock market, the Deputy Minister requested relevant units to strictly supervise all activities of the market, intermediary financial institutions, and accounting and auditing activities, to ensure the healthy operation of the stock market as well as investor confidence.