Minister Ho Duc Phoc: Gaining achievements by implementing fiscal policy

Minister of Finance Ho Duc Phoc

Minister Ho Duc Phoc said that, up to now, state revenue is estimated at VND1,691 trillion, exceeding the estimate by more than 19% and exceeding the same period in 2021 by more than 18%. This revenue is collected in the context of implementing the policy of exemption, reduction and extension of taxes, fees and charges which is worth about VND233 trillion, hence it is a great victory for the Finance industry.

The Minister also said that the Finance sector has made great efforts in digital transformation under the direction of the Government and the Prime Minister. Recently, the Tax sector has issued electronic invoices, up to now 100% of businesses and households have paid taxes under the declaration method, and 2.1 billion e-invoices have been issued, facilitating the work of tax refund control, anti-fraud, tax evasion and smuggling.

The Tax Department has also deployed an electronic payment portal for foreign suppliers to exercise the right to declare and pay tax when doing business in Vietnam, and facilitate taxpayers. Up to now, there are 42 major foreign suppliers around the world that have registered, declared and paid taxes directly through the website of foreign suppliers of the General Department of Taxation with the total tax declared and paid to be VND3,444 billion. Thanks to the reform and modernization, the Ministry of Finance holds the first position in the ranking of digital transformation and the second place in administrative reform among ministries and sectors.

Currently, the Ministry of Finance is completing policies on the corporate bond market, actively coordinating with ministries, sectors and localities to make corporate bonds an effective medium and long-term capital mobilization channel for economic development, contributing to solving difficulties for enterprises.

At the conference, on behalf of all officials, civil servants, public employees and employees of the Finance sector, the Minister would like to thank the Government and the Prime Minister for their direction, ministries, sectors and localities which have actively cooperated with the Finance sector to well perform the assigned tasks. At the same time, the Minster affirmed that the Finance sector would be determined and strive to successfully complete the task in 2023.