Today: 24/09/2021 16:41:27 (GMT+7)

Businesses develop, budget revenue increases

(BGO) – Bac Giang province is now home to thousands of operating businesses. Among them are many excellent production and business units that have well fulfilled tax duties and been commended and rewarded by the tax sector for many consecutive years.

At this time, thousands of workers in four export jacket workshops of the Bac Giang LGG Garment Corporation in Nghia Hoa commune (Lang Giang district) are busy completing millions of products to promptly export to the US, Japan, the Republic of Korea and the European Union (EU).

Businesses develop, budget revenue increases, Bac Giang province, excellent production, tax duties,  increasing productivity, best product quality

A product finishing line at the Bac Giang LGG Garment Corporation.

Luu Tien Chung, General Director of the corporation, said that since last year, the enterprise has invested more than 160 billion VND (6.9 million USD) in building a new workshop and replacing old machines with modern ones, contributing to increasing productivity. Therefore, it has delivered goods to partners in a timely manner, with product quality guaranteed.

Earlier this year, the enterprise was recognized by Uniqlo Group (Japan) as one of the six companies with the best product quality on the globe.

Last year, the corporation exported more than 4 million clothes of all kinds, earning a turnover of nearly 600 billion VND (25.9 million USD) and contributing nearly 19 billion VND to the State budget. Since the beginning of 2019, the unit shipped nearly 8 million products abroad, striving to increase the figure to 12 million at the end of the year, with revenues estimated at 1.2 trillion VND (51.8 million USD).

Currently, the corporation is creating jobs for 5,000 workers with an average income of 7.5 million VND (323 USD) per person per month, up from the previous year. It is expected that in October this year, it will complete and put two new workshops into operation, employing about 3,000 rural workers. Recognizing the achievements, this year the tax sector praised and rewarded the corporation.

The Petro Binh Minh Co., Ltd in Bich Dong township (Viet Yen district), which specializes in trading fuels, is also actively innovating business methods and expanding product consumption markets, thus increasing sales.

In addition to providing quality goods, the company also partially covers transportation costs for petroleum buyers. Last year alone, the company sold 28 million liters of petroleum, earning nearly 400 billion VND (17.27 million USD) in revenues and contributing nearly 50 billion VND (2.15 million USD) to the budget. In the first eight months of this year, the respective figures were over 500 billion VND and 70 billion VND.

With high budget contribution, the company has been commended and rewarded by the General Department of Taxation and the provincial Tax Department for two consecutive years. It strives to pay additional 20-30 billion VND in taxes from now to the year-end.

According to Pham Van Thinh, Director of the provincial Tax Department, reviewing the budget collection results in 2018, the whole province has more than 170 enterprises and individuals eligible for being commended and rewarded by the Ministry of Finance, the General Department of Taxation and the provincial Tax Department. 

More than half of them have been praised for high tax payment rates for many consecutive years, including the Coal 45 One Member Co., Ltd. (Son Dong district); the Ha Phong Garment Export Joint Stock Company (Hiep Hoa district); and the S-Connect BG Vina Co., Ltd in the Van Trung IZ (Viet Yen district) ...

The above results were attained as in recent years, the tax sector has always paid attention to and deployed many new solutions to create conditions for businesses to well fulfill tax duties.

Along with guiding how to make electronic tax declaration and payment (Etax) to ensure quickness and accuracy, the provincial Tax Department has regularly organized conferences to disseminate tax policies for businesses and direct dialogues to remove difficulties for enterprises in fulfilling tax obligations. Now, more than 95 percent of businesses in the province pay taxes online.

With efforts in production and business, the local business community has contributed to increasing State budget revenues. In 2018, the province’s budget collection was about 8.5 trillion VND (367 million USD). 

Promoting the achieved results, this year these enterprises continue to make high contributions to the budget. By the end of August 2019, the whole province collected nearly 7 trillion VND in taxes, representing a year-on-year increase of nearly 12 percent and reaching 99 percent of the assigned estimate. The province strives to collect over 10 billion VND by the year-end.

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Minh Linh

Businesses develop, budget revenue increases, Bac Giang province, excellent production, tax duties, increasing productivity, best product quality
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