Tax sector expedites disbursement of public investment

	Issuing resolution on global minimum tax to proactive international integration
	122 foreign corporations investing in Vietnam have to pay Global minimum tax

The State expenditures are implemented in accordance with the estimate, ensuring socio-economic development. Photo: Internet

The report of the Department of Finance and Logistics (under the General of Taxation) shows that the total disbursed public investment reached 70.74%, including the administrative management disbursement at 75.11%; and public investment disbursement at 32.15%.

The Department of Finance and Logistics assessed that Tax departments have focused on implementing disbursement procedures from the beginning of the year. Some department achieved high disbursement rates such as Quang Ngai Tax Department at 95.82% of the estimate; Quang Ninh Tax Department at 99.30% of the estimate; Ha Giang Tax Department at 93.51% of the estimate.

However, some local tax departments have started implementing bidding procedures, leading to slow progress in disbursement of capital plans in 2023, such as the tax departments of the provinces of Soc Trang and Vinh Long, Quang Nam, Thua Thien Hue, Dak Lak...

Regarding difficulties and obstacles in the field of construction investment, some projects under the newly constructed project groups in 2023 have faced problems in the appraisal of construction designs implemented after the basic design, leading to the slow disbursement.

Some projects have been adjusted and supplemented their designs; changed construction materials, and added some items to comply with new standards, causing delays in construction, acceptance, handover and putting into use, and preparation of final settlement documents for the completed project and disbursement of capital plans.

Deputy Director General of the General Department of Taxation Phi Van Tuan, the Government and Prime Minister have focused on directing and promoting the disbursement of public investment and implementing national socio-economic recovery and development plan, including disbursement of public investment.

Accordingly, the Department of Financial Planning (Ministry of Finance) has issued many documents directing and urging to promote disbursement of public investment in 2023 and expedite the progress of allocation and disbursement of public investment for the last months of 2023.

The Tax sector is assigned to disburse 100% of the expenditure estimate and 75% of the public investment plan. To achieve the target, the Tax sector needs to make great efforts in reviewing each expenditure, each project, and deploying solutions and urgently implement expenditure estimates in accordance with the requirements of the Government, the Prime Minister, and the Ministry of Finance, ensuring the selection of contractors to meet requirements of bidding packages. It is necessary to review and closely evaluate the disbursement of public investment in 2023 to deploy the expenditure estimates in 2024.