Effort to Accomplish State Budget Collection in Tough Time

10:13:06 AM | 4/12/2020

In 2020, the Thai Nguyen Tax Department has advantages and disadvantages in collecting State budget. However, given local advantages in investment attraction, the department expected that the business community will resume normal operations in the last months of the year as the Covid-19 pandemic is controlled, thus generating more income for companies and creating more jobs for workers. This will help raise income for the State budget as a result.

The pandemic outbreak caused significant adversity to local social and economic development, leading to reduction in local Industrial production, trade, service, tourism, transportation, import and export. However, with the consensus of the people, the business community and businesspeople in performing the dual task of “fighting against the pandemic outbreak and removing difficulties against local enterprises in business", the province managed to ease pandemic impacts on socioeconomic development and social security.

Overcoming these difficulties, the Thai Nguyen Tax Department has actively adopted many solutions in tax administration. In the first nine months of 2020, the State budget revenue reached VND8,236 billion, equal to 67% of the target assigned by the province and down 7% from the same period of 2019.

To complete the budget revenue target of VND12,355 billion in 2020 assigned by the Provincial People’s Council and the Provincial People’s Committee, it must collect VND4,119 billion in the last three months of the year. This is a very heavy and difficult task for Thai Nguyen tax industry. In the coming time, although enterprises have recovered from pandemic impacts, they will still face numerous difficulties. Especially, foreign direct investment (FDI) enterprises will be affected by both input supply markets and consumer markets.

Therefore, to fulfill the assigned budget revenue target in 2020, Thai Nguyen province's tax authorities will focus on the following solutions:

Closely following the leadership and direction of the Central Government, the Provincial Party Committee, the Provincial People’s Committee, the Ministry of Finance - the General Department of Taxation in budget collection tasks; actively advising Party committees and local authorities on solutions, mechanisms and policies to improve the business investment environment, create favorable conditions for investment and business projects for a sustainable source of budget revenue.

Keeping a close watch on performance of local enterprises, actively urging the timely collection and payment of taxes to the State coffers, particularly on key taxpayers like Samsung Electronics Vietnam Co., Ltd, Thai Nguyen Iron and Steel Joint Stock Company, and Nui Phao Mining and Processing Co., Ltd.

Urging taxpayers to pay tax in full and extended land rental on due date according to Decree 41/ND-CP of the Government.

Focusing on overdue tax collection solutions to reduce overdue tax and increase budget revenue for the government

Improving tax inspection quality, complying with regulations and directions on Covid-19 pandemic prevention and retrospectively collecting tax evaded by violators

Raising the quality of tax officers by strictly observing the code of conduct and cultural ethics at the workplace, building internal rules and regulations to create a cultured workplace, seriously combating corruption and practicing thrift.

Source: Vietnam Business Forum