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The revenue of many major localities is lower than 20% of estimate

13:33 | 14/12/2020

VCN- According to the Ministry of Finance, in the first 11 months of the year, 23 of 63 localities completed the estimate of State revenue; 31 of 63 localities completed the estimate assigned by the Government and33 of 63 localities have revenue growth year-on-year. However, these are small localities with low amounts of revenue.

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Tax authorities have made great efforts to perform revenue collection in the finalmonths of the year. Photo: Internet.

According to the Ministry of Finance, the total State budget balancing revenues in November is estimated at VND 108.94 trillion.

Thus, after 11 months of 2020, total State budget revenue reached VND 1,260.9 trillion or 83.4% of the estimate, down7.8% year-on-year. Of which, the central budget revenue reached 77.4% of the estimate and the local budget revenue reached 91.1% of the estimate.

Domestic revenue in November hitVND 89.2 trillion. The accumulated revenuein 11 months wasVND 1,067 trillion, or 84.4% of the estimate, dropping 4% year-on-year. Currently, a total of 23 of 63 localities have completed the estimate; 31 of 63 localities have completed the estimate assigned by the Prime Minister and33 of 63 localities have revenue growth.

However, these are mostly small localities with low revenue and that are less dependent on production and business activities affected by the Covid-19 pandemic. There are 11 localities, including many major localities with high revenue, reported domestic revenues 20% lower than the estimate.

Revenue from crude oil in November was estimated at VND 1.9 trillion. Accumulated revenue of the first 11 months reached VND 31.5 trillion, or 89.5% of the estimate, down38.9% year-on-year.

The revenue from import and export activities in November reached VND 17.8 trillion. Accumulated revenue in the first 11 months hitVND 161.5 trillion, or 77.6% of the estimate, falling 19.6% year-on-year based on the total tax revenue estimated at VND 281.4 trillion, or 83.3% of the estimate, downby 11.8%. TheVAT refund was nearly VND 119.9 trillion.

In November, the Ministry of Finance sent an official dispatch to the Government Office a draft decision of the Prime Minister on the assignment of the State budget estimate in 2021 for ministries, ministerial-level agencies, Government-attached agencies, central agencies, provinces and centrally-run cities.

In addition, the ministry continues to improve the report on the State budget estimate and the plan on the central budget allocation in 2021.

The Ministry of Finance has submitted to authorities a report on the implementation of key solutions and tasks to direct and administer the implementation of the socio-economic development plan and budget estimate in 2020 according to Resolution No. 01/ NQ-CP and Directive No.11/ CT-TTg dated March 4, 2020 of the Prime Minister; Decision on adjustment of Government bond issuance tasks in 2020.

In the first 11 months of the year, revenue management agencies strengthened the tax inspection and State budget collection, thereby detecting and promptly handling violations.Specifically, the tax agency has carried out 65.35 thousand tax inspections at enterprises, hitting70.7% of the plan for 2020; examined about 568.4 thousand tax declaration dossiers of enterprises, proposed for revenue collection and loss reduction of VND 55.84 trillion, upby 16.9% year-on-year. Of which, it collected VND 15.87 trillion to the State budget and VND 25.5 trillion of outstanding debts from previous year.

Customs has carried out 1,644 inspections (including 1,395 post- clearance audits), proposed to collect VND 1,072 billion to the State budget (of which collected VND 1,033 billion); urged and handled VND 302 billion of tax debt; seized 14,036 cases of customs offences, collected VND 455 billion to the State budget, and prosecuted 37 cases and transferred 129 to other agencies.