State budget revenue grew well
In recent times, fiscal policy has contributed to realizing socio-economic development goals, achieving many positive results. Production and business activities, economic growth recovered, GDP growth always remained at a positive level, inflation was maintained, ensuring the macro economy.
Not only has the Ministry of Finance implemented well policies on tax exemption and reduction and support fees for businesses and people, the Ministry of Finance has also promoted good and creative implementation of budget collection solutions, especially increasing budget revenue in areas such as: areas that have not been obtained before.
From 2021, the total annual state budget revenue will reach more than 1,563 trillion VND, exceeding the estimate by 219.9 trillion VND.
In 2022, accumulated total state budget revenue will reach nearly 1,785 trillion VND, equal to 126.4% of the estimate and up 13.8% compared to the previous year.
In 2023, in the context that our country's economy continues to face many difficulties and challenges, economic growth slows down compared to 2022, to accompany businesses, people, and a series of policies. Tax and fee reductions were promptly issued and put into effective use. As a result, state budget revenue in 2023 will decrease slightly compared to 2022, but still exceed the estimate by about 8.12%. By the end of December 31, 2023, it is estimated to reach more than 1,752 trillion VND.
In the first 6 months of 2024, policies to support the economy will continue to be maintained. State budget revenue reached about 1,038 trillion VND, equal to 61% of the estimate.
Increase budget revenue from revenues that have not been collected for a long time
To harmonize all factors and increase budget revenue without affecting business health, the Ministry of Finance has implemented many creative solutions in finding ways to collect potential revenues, modern revenue management, Especially revenue from previously uncollected amounts such as from cross-border e-commerce platforms, tax revenue from real estate transfer activities, and e-commerce business.
The explosive development of the digital economy with cross-border services has been posing many difficulties for tax management when controlling business transactions in the 4.0 technology era, as well as determining Determining tax bases is no longer as easy as traditional business transactions.
From March 2022, the Ministry of Finance has officially put into operation the Electronic Information Portal for foreign suppliers (NCCNN) to modernize tax management, create convenience, equality and transparency in registration. Sign taxes, declare taxes, pay taxes according to international tax management trends.
The electronic information portal is the address for NCCNN to register, declare and pay taxes as well as look up information and learn about Vietnam's tax legal policy system. With this new tax collection method, Vietnam has become one of the first four countries in the ASEAN Region to affirm the country's tax sovereignty over foreign organizations and individuals with commercial business activities. cross-border electronics in our country.
In the first 6 months of 2024, there were 26 new foreign workers registering, declaring, and paying taxes in Vietnam through the electronic information portal for foreign workers.
Accumulated to date, there have been 101 foreign workers registered, declared and paid taxes through the Electronic Information Portal from many countries such as the US; Netherlands; Korea; Singapore; Hong Kong (China); Ireland; Switzerland, Australia; Older brother; Switzerland...
In particular, the goal of increasing tax revenue for online trading business is a goal that Minister of Finance Ho Duc Phoc attaches great importance to.
Accordingly, the Ministry of Finance has connected the tax agency's database to the population database of the Ministry of Public Security and coordinated with the State Bank to control payments on the e-commerce platform; Request the State Bank of Vietnam to increase non-cash payments. These solutions are expected to help increase tax revenue from the online trading business, because in just the past two quarters, nearly VND 50,000 billion has been collected from this field.
In addition, with the results of quickly deploying electronic invoices for each sale at 100% of petrol stations nationwide, experts believe that this year's budget collection will have good results. The data will be directly connected to the tax authority's data.
It is known that the Ministry of Finance has built software to control electronic invoices and online electronic invoices to prevent fraud in value-added tax refunds. Notably, there is a solution to dial invoices according to lucky invoice codes to encourage people to get invoices. If they win the code, they will receive a reward.
