Today: 05/12/2023 18:53:25 (GMT+7)

Bac Giang is determined to complete budget collection plan

BAC GIANG - In 2023, Bac Giang City targets to collect more than 2.6 trillion VND (110.8 million USD) of state budget (higher than the figure in 2022). But as of the end of August, the revenue only reached 63 percent which was not guaranteed as the divergence and lower than the same period last year. Many solutions have been implemented by Bac Giang City to complete the plan.

Many revenues decreased

For the past 8 months, the total budget revenue of Bac Giang city has hit over 1.66 trillion VND, reaching 63 percent of the yearly estimate and equal to 70 percent compared to the same period last year. The budget revenue other than land use fees reached 91 percent, up 28 percent year on year.

Bac Giang city, complete budget collection plan, total budget revenue, divergence progress, increase revenue sources, stable development

The concrete bricks are produced in Thanh Loc Bac Giang Company Limited.

The state budget collection in the city has faced many difficulties. Total revenue does not ensure the divergence progress due to low achievement of 3 revenue targets: Land use fee collection reached 50 percent of the yearly estimate; registration fee collection reached 49 percent and personal income tax reached 68 percent.

The reason was due to the increase in the number of enterprises and business households who requested to extend value added tax and many organizations asking for land leasing extension.

The real estate market was stagnant while the transactions were quiet which directly affected the collection of land use fee from auctions and indirectly caused impacts on registration fee revenue and personal income tax from real estate transfer.

Joining hands to increase revenue sources

Of the total budget revenue of more than 2.6 trillion VND in 2023 plan, Bac Giang City strives to collect 1.8 trillion VND from land use fees and the remaining amounts coming from taxes, fees and other revenues. To achieve this number, the city must implement many solutions.

Facing difficulties in budget collection, Bac Giang City has directed relevant departments and units to coordinate closely and deploy many solutions. Local authority also reviews works and projects using both budget and non-budget capital that are eligible to carry out budget collection.

According to the municipal Finance and Planning Department, divisions have accelerated the progress of site clearance for residential areas and urban areas; construction of infrastructure at locations where clean ground is available to hold auctions of land use rights.

Besides, relevant divisions and agencies are urged to speed up verifying documents and programme to compensate and support the resettlement when receiving all valid documents according to regulations.

Along with budget revenue from land use fees, Bac Giang City has directed the Bac Giang - Yen Dung Regional Tax Division to implement solutions to collect taxes, fees and other revenues.

Tran Ngoc Hieu, Director of the Bac Giang - Yen Dung Regional Tax Division said: "The division directs the teams to continue closely monitoring and strictly managing the revenue sources; promote the fight against loss of revenue in the field of real estate business and e-commerce business. Besides, they synchronously implement debt recovery and tax debt enforcement measures as well as promote the collection of tax debt, land use fees and land lease to ensure the total amount of tax debt that can be collected by December 31, 2023 is less than 5 percent of the total budget revenue in the area”.

To fulfill the target of state budget collection recently, the Bac Giang municipal People's Committee has launched a 150-day and night peak emulation period.

The Chairman of the City People's Committee Dang Dinh Hoan said the City requires departments and units to promote administrative reform, synchronous and comprehensive digital transformation in associated with improving the investment and business environment, assisting and creating best conditions for enterprises toward stable development.

The competent forces must speed up the disbursement of public investment capital, ensure economical and effective use of capital to improve the quality of construction investment, improve infrastructure, create motivation for socio-economic growth and generate revenue budget.

Hoai Thu
Taxation sector’s budget revenue reaches 36.6 billion USD in 7 months
The taxation sector’s total state budget revenue in the first seven months of 2023 was estimated at 868.6 trillion VND (36.6 billion USD), equal to 63.3% of the estimate, and 94.5% compared with that of the same period last year, the General Department of Taxation released on August 4.
4 out of 15 tax revenues exceed yearly estimate
(BGO) – Since early this year, 4 out of 15 tax revenues in Bac Giang province have exceeded the assigned yearly estimate, reported the provincial Taxation Department.
Value-added tax cut welcomed
Consumers and producers are happy to see the implementation of the 2% reduction of value-added tax (VAT) for products starting from July 1.
Tax collection from FDI enterprises exceeds yearly estimate
(BGO) – For the first six months of this year, the foreign direct investment (FDI) businesses in Bac Giang province has contributed nearly two trillion VND (85.3 million USD) to the budget collection, exceeding 19 percent of the yearly estimate.
Tax revenue reaches 663.843 trillion VND in first five months
Vietnam’s tax revenue in the first five months of 2023 was estimated at 663.843 trillion VND (28.27 billion USD), as shown by data from the General Department of Taxation (GDT).

Bac Giang city, complete budget collection plan, total budget revenue, divergence progress, increase revenue sources, stable development
New comment has just been added. Click here
Sort:NewBest News