Budget revenue from taxes and fees increased

In 2024, the budget revenue in Sa Pa town will reach 1,396 billion VND, an increase of 76% compared to the provincial estimate - this is the highest figure ever. In addition to the revenue from land use, the locality's efforts to increase taxes and fees are also recorded. Drastic solutions such as reviewing revenue from 2,500 individual business households to apply appropriate tax rates and preventing revenue loss from tourism activities have all been effective.

Sa Pa town achieved budget revenue of 1,396 billion VND.

Mr. To Ngoc Lien, Chairman of Sa Pa Town People's Committee said: "Review taxes, house rental subjects, house rental establishments, focus on reviewing and evaluating to determine production and business establishments, review and nurture stable and sustainable revenue sources".

In 2024, Lao Cai tax sector has applied a series of professional measures to prevent revenue loss from non-state enterprises, such as: thoroughly applying electronic invoices and increasing revenue from e-commerce; boosting revenue from the service sector when the local tourism industry recovers. The work of collecting tax arrears, administrative reform, management, and monitoring revenue sources on trading floors is clear, public, transparent, and anti-fraud.

Many solutions to increase budget revenue are applied by Lao Cai tax sector.

Ms. Vuong Ngoc Thao, Owner of the e-commerce platform, shared: “We always keep a record of how much money is sold. Whether you want to pay or not, it is on the trading platform. It is very fair and good for people to fulfill their civic duties to the State.”

Comrade Trinh Xuan Truong, Deputy Secretary of the Provincial Party Committee, Chairman of the People's Committee of Lao Cai province emphasized: "Lao Cai enterprises have taken advantage of opportunities, especially the advantages of Lao Cai's pillars, from the 4th industrial revolution, with many innovations in management, market access, and product innovation. The province highly appreciates enterprises in all fields from cooperatives to agriculture and tourism".

Strive for budget revenue to reach 15,500 billion VND by 2025.

In the final year of the term, Lao Cai strives to collect 8,200 billion VND from taxes and fees. To achieve this goal, the financial sector will implement many solutions to continue to nurture and develop revenue sources, especially stable and sustainable revenue sources, support businesses, and promote production and business activities.

Trung Kien - Xuan Anh

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