Cooperation in State revenue collection: Important step forward to Digital Treasury

This is a step to concretize the Government's direction on strengthening non-cash payments and facilitating taxpayers when fulfilling their obligation to pay the state budget, and towards a digital treasury in the future.

The state revenue collection by cash through the State Treasury system accounts for less than 1%. Photo: Thùy Linh

Collecting revenue by electronic method accounts for over 99%

Up to now, the state revenue collection by cash through the State Treasury system accounts for less than 1%. This achievement is thanks to close cooperation between the State Treasury and commercial banks.

Previously, there were only five state-owned commercial banks signed with the State Treasury. However, since May 2020, there have been four more commercial banks participating in the collection cooperation program. The expansion of cooperation has contributed to the development and diversification of the State Treasury's revenue collection methods in order to strengthen administrative reform, promote non-cash payments, and support people and businesses when performing obligations with the state budget.

For example, at Thai Nguyen State Treasury, from June 1, 2021, this unit has stopped all direct transactions by cash at the head office. Accordingly, the revenue collection activities and collection of fines for administrative violations are carried out on the National Public Service Portal through taxpayers' accounts, and fines are paid at commercial banks or directly at the banking transaction office of five commercial banks including VietinBank, Agribank, BIDV, Vietcombank and MB Thai Nguyen branch.

According to this unit, the collection cooperation has helped the State Treasury to reduce the workload, thereby creating conditions to increase human resources for professional activities. On the other hand, reducing pressure to ensure security when transporting cash.

After nearly two years of expanding the collection program to achieve the goal of a "cashless" Treasury, the program has brought many benefits. Affirming the State Treasury's view that "if you want to go far, you have to go together", Deputy Director General of the State Treasury Tran Thi Hue said this cooperation would bring benefits to all three parties.

Accordingly, the cooperation between the State Treasury and commercial banks will create more advantages for taxpayers (expanding space for carrying out tax procedures, tax payment time; taxpayers are provided more diversified and modern payment services, with a simple and convenient collection and payment process, reducing the time of carrying out payment procedures); contributing to the implementation of public services, customs procedures, and quick clearance.

In addition, the coordination of state revenue collection between the State Treasury and commercial banks also helps that all state revenue collection carried out through banks will be recorded directly into the State Treasury's accounts, ensuring timely gathering of revenue to the state budget and information on revenue transmitted to the General Department of Taxation and the General Department of Vietnam Customs quickly and conveniently.

For the State Treasury, besides gathering revenue more quickly and promptly into the state budget, without having to go through intermediaries, the coordination of state revenue collection with banks also helps to reduce the workload of the State Treasury, creating conditions for the State Treasury to further streamline its apparatus, operate effectively and efficiently following Resolution No. 18-NQ/TW of the 12th Central Committee. In particular, the results of cooperation between the State Treasury and commercial banks also contribute to improving the business environment, creating an important driving force for socio-economic development, improving the labor productivity of the society, and contributing to the digitization of the economy.

Continue to improve procedures

Coordination between the State Treasury, Tax, Customs authorities and commercial banks is a significant step forward in administrative reform, making a breakthrough in revenue collection on the basis of information technology and following the principles of convenience, accuracy, timeliness, and modernity, appropriate with international practices and bringing benefits to all parties.

To implement the State Treasury Development Strategy to 2030, forming an electronic treasury, a “Three No” Treasury (no cash, no paper documents, no transactional customers), in the future, the collection order will be further expanded by the State Treasury with commercial banks to coordinate collection in each area in order to create the most favorable conditions for taxpayers, promote reform of administrative procedures and improve customer service quality, reducing payment transaction time to about 5 minutes per transaction.

To do that, the State Treasury, Taxation, Customs authority and commercial banks will continue to review the procedures in the process of coordinating state revenue collection to detect unreasonable procedures and improve following the direction of simplification and understanding in order to facilitate taxpayers.

Furthermore, timely exchange of information in solving all problems so that the implementation of the regulation on coordination of state revenue collection goes in order and promotes efficiency, and brings benefits to tax authorities, State Treasury, commercial banks and taxpayers.

Deputy Director General of the State Treasury Tran Thi Hue affirmed that the State Treasury wished and was ready to cooperate with commercial banks that have demand and are willing to invest in facilities, technical infrastructure, application of information technology and human resources to coordinate in state revenue collection and electronic bilateral payments with the State Treasury.