11/17 sources of revenue are quite good

11/17 revenue sources achieved quite well compared to the estimate, such as: Revenue from local state-owned enterprises reached 46.2%; revenue from lottery reached 48.1%; personal income tax reached 51.3%; fees and charges reached 54.2%; revenue from central state-owned enterprises reached 56.7% (of which revenue from the Gas - Electricity - Fertilizer cluster reached 76.1%); other budget revenue reached 60%; revenue from foreign-invested enterprises reached 66.7%; revenue from dividends and remaining profits reached 114%.

Businesses and people are given the most favorable conditions to develop production and business.

It is forecasted that in the last months of the year, the state budget collection will face many difficulties due to storms and rains, which will significantly affect the production and business of enterprises and people.

In particular, inflationary pressure is increasing; the capital market, real estate, securities, currency, and public investment disbursement still have many bottlenecks that cannot be resolved immediately. Pressure on interest rates, exchange rates, and inflation pushes input costs up, while goods consumption slows down and export orders decrease.

In addition, revenue from the non-state economic sector has decreased due to the impact of the economy, especially the province's leading seafood businesses and construction units. Specifically, Minh Phu Company lost 90 billion VND in the first quarter of 2023 and continued to face difficulties in the second quarter; construction units encountered many difficulties, resulting in lower tax payments than the same period.

Vice Chairman of the Provincial People's Committee Lam Van Bi directed to strengthen revenue management, increase revenue, and strive to complete the revenue task in 2023.

At the conference to evaluate the budget collection work in the first 5 months of the year on the afternoon of June 3, organized by the Provincial Tax Department under the chairmanship of Comrade Lam Van Bi, Member of the Standing Committee, Vice Chairman of the Provincial People's Committee; members of the Steering Committee for Tax Loss Prevention of localities and units exchanged, discussed, and found effective solutions in revenue management, striving to complete the revenue collection task in 2023.

In particular, focusing on strengthening the implementation of solutions on tax declaration, tax refund, tax inspection, tax audit, tax debt management and enforcement, and preventing tax losses in the field of e-commerce...

To effectively implement tax collection in the last months of the year, the Tax Department is coordinating with the Departments of Finance, Planning and Investment, Natural Resources and Environment, Construction, Transport, Industry and Trade and related units to strengthen management measures for revenues related to the fields of real estate business, land, basic construction activities, transportation, and e-commerce.

Estimated state budget revenue for the last 7 months of the year reached VND 2,790 billion, equal to 59.1% of the annual estimate; estimated total budget revenue for the whole year of 2023 reached VND 5,000 billion, equal to 105.9% of the ordinance estimate, equal to 96.2% of the 2023 target estimate.

Mr. Tran Ngoc Minh, Head of Tax Department Region III, spoke at the conference.

Highly appreciating the results of leadership, direction and management in budget collection of units and localities, the collection was good, with high growth compared to the same period; however, Vice Chairman of the Provincial People's Committee Lam Van Bi also noted that 6/17 sources of revenue were low such as: Environmental protection tax, registration fee, land and water surface rental fee, land use fee, and sea area rental fee.

“These are revenue sources that account for a large proportion but have low revenue, so it is necessary to strengthen revenue management, increase revenue, and strive to complete the revenue task in 2023. In particular, speed up inspection and examination work associated with source management and anti-loss revenue. Tax officials must fully and correctly implement regulations on monitoring the creation of invoices, tax declarations, as well as properly handle tax procedures,” the Vice Chairman of the Provincial People's Committee emphasized.

In addition to directing the management work, increasing revenue, and preventing revenue loss, the Vice Chairman of the Provincial People's Committee also noted that localities create conditions to provide maximum support for businesses and people to develop production and business to expand revenue sources, to achieve the expected goal of another year in which Ca Mau's budget revenue exceeds the assigned target./.

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