Bac Ninh Tax Sector Reports Overestimated Tax Revenue

3:59:10 PM | 27/4/2016

Bac Ninh is one of the first provinces in the country to complete tax revenue collection for the State Budget in 2015. The tax revenue collected by the Department of Taxation of Bac Ninh province was not only rising but also sustainable, thus playing a considerable part in the completion of tax collection task of the entire tax sector of Vietnam.
In 2015, the Bac Ninh Tax Department collected VND10,270 billion, equal to 121 per cent of the estimation and up 23 per cent from 2014. Of the sum, taxes and fees contributed VND9,083 billion, or 115 per cent of the estimation; and land-use levies accounted for VND1,187 billion, or 198 per cent of the estimation. Bac Ninh was one of the first provinces and cities in the country to finish the target before the deadline. Remarkably, all items were higher than estimates. For example, tax revenue from FDI companies was VND4,500 billion, equal to 115 per cent of the estimation; land-use fee was VND1,187 billion, equal to 198 per cent of the estimation; personal income tax was VND1,332 billion, or 116 per cent of the estimation; revenue from the private sector was VND1,142 billion, and revenue from the State-owned sector was nearly VND1,043 billion.
 
The Bac Ninh Tax Department also achieved important results in administrative procedure reform, which was aimed to facilitate taxpayers to pay taxes and develop production and business operations. In the past time, the department was chosen to reform tax administrative procedures for nationwide deployment. The department has applied the tax management system (TMS) technology, electronic tax declaration and payment services. To date, all companies in the province declared taxes online, while 95 per cent paid taxes via electronic environment. According to local taxpayers, new policies on administrative procedures and tax management modernisation have streamlined tax procedures, reduced expenses for enterprises and enhanced the competitiveness of companies and the economy.
 
Given the results obtained and limitations existing in 2015, the Bac Ninh Tax Department defined four key tasks and six groups of solutions to complete and even exceed tax collection tasks in 2016. Accordingly, the department focused on carrying out synchronous tax administration measures adopted by the General Department of Taxation and the Ministry of Finance; executing Government policies on measures to enhance macroeconomic stability, boost economic growth and ensure sustainable development; closely tracked tax collection progress, analysed and forecast tax sources and reasons for the rise and fall in tax revenue; and proposing solutions and initiatives for effective tax collection.
 
Besides, the Bac Ninh Tax Department will continue to improve debt management and apply coercive measures to collect overdue taxes and tax debts in accordance with the Law on Tax Administration; bring tax debt to less than 5 per cent by December 31, 2016; and collect 80 per cent of taxes continued from the previous year. The department will analyse records and identify risks before taking any action, assign capable staff to inspect taxes, fully prepare documents and policy grounds for tax inspection; popularise cases of good taxpayers, and reform administrative procedures to facilitate taxpayers.
 
Duy Binh

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