Tax sector strives to keep the tax debts in 2018 to not exceed 69,000 billion VND

Minister of Finance Dinh Tien Dung

The rate of revenue collection is higher than rate of economic growth

According to the Minister, by deploying the Decrees of Party Central Committee, National Assembly, the Government, the whole Finance sector determined to strive to complete the mission excellently which was assigned at the beginning of the year. Besides the financial and budgetary tasks, the Ministry of Finance has reorganized and streamlined the apparatus, and implemented the resolutions on private economic development that have initially achieved good results.

As of 16/10, State revenue collection was estimated to reach 77.56%, in that central budget reached 75.08%, local budget reached 80.87%. The rate of domestic revenue increased by 13.7% over the same period of 2017. "With the rate of economic growth approximately 7% and inflation was 4 %, so the rate of revenue collection was higher than the rate of economic growth and inflation rate. The revenue management has made great progress," Minister Dinh Tien Dung said.

The Minister Dinh Tien Dung also requested local leaders; functional departments of the Ministry of Finance to strive to accomplish excellently the tasks assigned in 2018, in that, strive to exceed at least 3% of the revenue estimates assigned by the National Assembly.

In terms of shortcomings and constraints, he suggests that it was necessary to increase the inspection and checking of tax arrears as a solution for increasing revenue collection. "The localities, financial authorities and related sector should focus on coordinating in order to implement the assigned tasks, reviewing and concentrating the collection to each unit and each specific address. Furthermore, concentrating on collecting new incomings and urging to recover debts, enhance inspections and recovery of arrears and implement synchronously solutions to prevent losses and transfer prices in order to achieve the objectives.” - Minister Dinh Tien Dung said.

Strengthen the coordination with local authorities

By giving directives on solutions for achieving the above targets, Minister Dinh Tien Dung emphasized the close coordination between the Ministry of Finance and the local committees and authorities in directing the finance sector authorities, authorities and branches of the province in the area, deploying plans and actions programs. In addition, continue to advocate and support taxpayers; To promote the inspection and supervision of taxpayers’ declarations, intensify the management of tax refunds; To step up the reform of administrative procedures and measures to support production and business operation to facilitate taxpayers, contributing to increasing the State revenues; To speed up the inspection and prevention of tax loss.

In particular, focusing on inspection and examination of enterprises in the business categories which have high risk, enterprises with associated activities, enterprises which have signs of transferring price; enterprises operate e-commerce business, enterprises that have taxed contractors, capital transferring activities...

Assigning tasks to General Department of Taxation and Tax Departments, the Minister requested the Directors of the tax authorities at all levels to closely follow the directives and administration of the Government, the Ministry of Finance and the People's Committees of all levels in order to take initiative in implementing the action program for the socio-economic development plan and the State budget estimation in 2018; To further accelerate the inspection and supervision of taxpayers' tax declarations, to enhance the management of tax refunds, to ensure the refund of tax to the right subjects and implement in accordance with the tax legislation of the State as well as to facilitate taxpayers.

Especially with the tax arrears, the Minister assigned the General Department of Taxation and tax authorities at all levels to recover at least 14,000 billion VND in the last three months of the year, limiting the generation of new tax debts, striving to manage total tax debt in order to not let the debts exceed over 69,000 billion VND by the end of 31/12/2018.

The Ministry of Finance also assigned the General Department of Vietnam Customs and the Customs Departments to facilitate the enterprises to participate in import-export activities in a timely manner, settling problems arising under their competence related to customs procedures, tax policies, tax management, accounting system, tax refund, tax exemption, and removal of difficulties to facilitate enterprises to pay taxes; To check valuation for goods items with high tax rates, large turnover that import regularly, in combination with the assessment of enterprise compliance.

Besides the implementation of direct measures affecting revenues, the General Department of Taxation and the General Department of Vietnam Customs continue to accelerate administrative reform and strongly implement solutions to support production and business operation. To facilitate the taxpayers in implementing the tax law, thus contributing to increasing the state revenues; To speed up the implementation, raise the quality of inspection, examination and combat of tax loss; Drastically implementing the management of debt collection and debt enforcement.