Eleven out of seventeen revenue sources performed relatively well compared to the budget forecast, including: Revenue from local state-owned enterprises reaching 46.2%; revenue from lottery reaching 48.1%; personal income tax reaching 51.3%; fees and charges reaching 54.2%; revenue from central state-owned enterprises reaching 56.7% (of which revenue from the Gas-Electricity-Fertilizer complex reached 76.1%); other budget revenue reaching 60%; revenue from foreign-invested enterprises reaching 66.7%; and dividend and retained earnings reaching 114%.
Forecasts indicate that in the final months of the year, state budget revenue collection will face many difficulties due to the impact of storms and heavy rains on the production and business activities of enterprises and individuals.
In particular, inflationary pressure is increasing; the capital market, real estate, securities, currency, and public investment disbursement still face many bottlenecks that cannot be immediately resolved. Pressure from interest rates, exchange rates, and inflation is driving up input costs, while consumer goods are slow and export orders are declining.
In addition, revenue from the non-state economic sector has decreased due to the impact of the economy, especially for leading seafood businesses in the province and construction companies. Specifically, Minh Phu Company incurred a loss of 90 billion VND in the first quarter of 2023 and continued to face difficulties in the second quarter; construction companies encountered many difficulties, resulting in lower tax payments compared to the same period last year.
At the conference reviewing the revenue collection work for the first five months of the year, held on the afternoon of June 3rd by the Provincial Tax Department and chaired by Mr. Lam Van Bi, Standing Committee Member and Vice Chairman of the Provincial People's Committee; members of the Steering Committee for combating tax evasion in localities and units exchanged and discussed effective solutions in revenue management, striving to complete the revenue collection task for 2023.
This includes focusing on strengthening the implementation of solutions related to tax declaration, tax refunds, tax inspections and audits, tax debt management and enforcement, and combating tax evasion in the e-commerce sector…
To ensure effective tax collection in the remaining 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 other relevant units to strengthen management measures for revenue related to 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, equivalent to 59.1% of the annual forecast; estimated total budget revenue for the whole year 2023 is VND 5,000 billion, equivalent to 105.9% of the statutory forecast and 96.2% of the target forecast for 2023.
While commending the leadership and management results in budget revenue collection, with units and localities achieving good results and high growth compared to the same period last year, Vice Chairman of the Provincial People's Committee Lam Van Bi also noted that 6 out of 17 revenue sources still fell short, including: environmental protection tax, registration fees, land and water surface lease fees, land use fees, and sea area lease fees.
“These are major revenue sources but the collection rate is low, therefore it is necessary to strengthen revenue management, increase revenue, and strive to complete the 2023 revenue collection target. In particular, accelerate inspection and auditing work associated with revenue management and combat revenue loss. Tax officials must fully and correctly implement regulations on monitoring invoice preparation and tax declaration, as well as handle tax-related procedures correctly,” the Vice Chairman of the Provincial People's Committee emphasized.
Besides directing the work of management, increasing revenue, and combating revenue loss, the Vice Chairman of the Provincial People's Committee also reminded localities to create conditions to provide maximum support for businesses and people to develop production and business to expand revenue sources, in order to achieve the expected goal of Ca Mau exceeding the assigned budget revenue target for another year.
Trung Dinh
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