Unlock potential revenue streams

Domestic revenue increased by 12.58%

According to the Tax Department of Region XV, the total domestic revenue of the province in the first quarter of 2025 reached 3,106 billion VND, equal to 33.57% of the estimate assigned by the Provincial People's Council and People's Committee, up 12.58% over the same period. Of which, domestic revenue (excluding land use fees and lottery) reached 1,915 billion VND, equal to 30.84% ​​of the estimate, up 4.57% over the same period, including: tax, fee - charge and other budget revenue reached 2,707 billion VND, equal to 33.28% of the estimate, up 8.41% over the same period; revenue from housing and land reached 399 billion VND, equal to 35.68% of the estimate, up 52.22%.

Socio-economic development boosts budget revenue.

Notably, 11/18 revenue items recorded growth compared to the same period last year. This demonstrates the tax sector's focused efforts in effectively exploiting revenue sources right from the beginning of the year. Among the revenue increases, the most notable is revenue from foreign-invested enterprises reaching VND394 billion, up 59.31%, the main source of revenue increase is from corporate income tax payments. This is a positive sign, reflecting that the production and business activities of FDI enterprises in the province continue to be stable and effective. Revenue from lottery reached VND939 billion, up 17.95%, mainly thanks to Binh Thuan Lottery Company paying an additional VND109 billion in after-tax profit. Personal income tax improved with revenue reaching VND314 billion, up 25.17% over the same period. The main source of revenue increase was from income tax arising from wages and salaries; Income tax from winnings and income tax from real estate transfers, inheritance and gifts of real estate and income from capital transfers. In addition, some other revenues have had significant growth such as: revenue from central state-owned enterprises reached 151.4 billion VND, up 14.08%; land and water surface rent reached 143 billion VND, up 11.33%; land use fee revenue reached 252 billion VND, up 91.71% mainly arising from land use fee revenue from households and individuals under district management... However, there are still some revenues that decreased compared to the same period. Specifically, non-state revenue reached 580 billion VND, down 20.95% over the same period. The reason is that there are no more outstanding tax payments from previous years, one-time tax payments. Revenue from local state-owned enterprises reached 44 billion VND, down 15.04%. However, the total revenue increase of VND517 billion has offset the revenue shortfall of VND170 billion, contributing to ensuring the province's domestic revenue progress in the first quarter of the year is quite good.

Thoroughly exploit and prevent tax losses in all fields.

Mr. Nguyen Duc Ngoc - Deputy Head of the Tax Department of Region XV said: Right from the beginning of the year, the unit has proactively developed a plan to implement the budget collection task in 2025. We focus on urging the collection of taxes that have expired the extension period, corporate income taxes arising from the fourth quarter of 2024, the difference after tax settlement and after-tax profits from lottery activities. Thanks to that, many revenue items have made good progress and grown quite well.

Do not let revenue loss and debt persist

However, the province's revenue still faces difficulties due to lack of main revenue sources, land revenue has continuously decreased sharply since 2022. The competitiveness of the provincial economy is still low, tax arrears remain high. Controlling revenue and cash flow from business activities on digital platforms such as self-established websites, social networks (Zalo, Facebook, TikTok) to promote products combined with online sales to individual consumers is still difficult. Determining land prices and handling land financial problems in many investment projects have not met progress requirements...

In the coming time, the Tax Department of Region XV in the province will continue to closely coordinate with departments, branches, sectors and localities to strengthen the work of advising Party committees and authorities at all levels in managing and preventing budget losses. At the same time, promote the dissemination of new tax policies; implement tax support solutions under the direction of the National Assembly, the Government and the Provincial People's Committee; tighten the management of e-commerce activities and business on digital platforms to promptly mobilize revenue for the budget.

Directing at a recent meeting on budget collection, Chairman of the Provincial People's Committee Do Huu Huy requested the tax sector to proactively review and effectively exploit potential revenue sources, especially in the following areas: land, temporary basic construction, food and beverage services, hotels, e-commerce, chain business, house rental, mineral resource exploitation, real estate, renewable energy, revenue from business households... "It is necessary to remove difficulties for businesses to nurture revenue sources. Timely process tax exemption and reduction dossiers according to policies, shorten the time to process procedures. In particular, the Tax Department of Region XV in the province needs to proactively develop a plan to work with businesses with large tax debts, especially those related to land, to thoroughly handle them, not to let the debts linger for a long time", Chairman of the Provincial People's Committee Do Huu Huy emphasized.

In addition, the Chairman of the Provincial People's Committee directed the coordination with the Provincial Construction Investment Project Management Board and Central units in providing full information and ensuring that tax obligations arising in the province are implemented in accordance with regulations from projects such as the expressway passing through Binh Thuan, National Highway 28B, etc.

To increase revenue from land, the Chairman of the Provincial People's Committee assigned the Department of Agriculture and Environment to closely coordinate with departments, branches and localities to speed up the progress of land use rights auctions and determine specific land prices at projects on schedule. Promote the collection of land use fees for eligible land plots to contribute to increasing budget revenue. In case of any adverse events affecting the progress of land use fee collection, it is necessary to proactively report to the Provincial People's Committee for timely handling...

Source: https://baobinhthuan.com.vn/khoi-thong-nguon-thu-tiem-nang-129766.html