Monday, September 26 2016

VietNamNews

VN tax collection, revenue up

Update: June, 15/2016 - 09:00

HÀ NỘI — Việt Nam’s total budget revenue in 2014  reached VNĐ1,130 trillion (US$50 billion), of which the estimated tax collection was more than VNĐ877 trillion ($38 billion), an increase of 12 per cent over the planned figure.

The figures were presented yesterday in Hà Nội at the 49th session of the 13th National Assembly (NA) Standing Committee to discuss the State budget balance and a report on the enforcement of the law on thrift practices and waste prevention in 2015.

The collection increase was attributed to strong administration reforms in the tax and customs sectors and  reforms in State-owned enterprises. Better guidance and co-ordination in tax collection and stricter penalties for violations were also important contributing factors, the standing commission of the NA’s Finance and Budget Committee said.

NA Chairwoman Nguyễn Thị Kim Ngân said policies made by the country’s legislative body also contributed greatly to the increase.

However, the commission also said that many localities were still passive in planning their budget and had not been effective enough in managing pending tax debts. Lax management with tax violations have resulted in massive tax frauds in many enterprises, the commission said.

According to the head of the NA’s Finance-Budget Committee Nguyễn Đức Hải some problems remain in the State budget balance. One is overspending and falling short of collection targets. Spending in basic infrastructure construction is line with planning but violations of investment procedures are still popular.

The State Audit of Việt Nam has uncovered many violations in management and use of the State budget and property. Pending debts increased by VNĐ2.2 trillion ($97 million).  This body suggested a reduction of more than VNĐ5.5 trillion ($244 million) in spending.

Clarify responsibilities in wastefulness

The finance ministry’s report on the implementation of the law on thrift practice and against waste indicates shortcomings in 2015.

The formulation of policies on thrift practice and anti-wastefulness remained slow. The reason, according to the report, was due to a large number of legal documents that needed to be completed, while the time for research and building these documents were relatively short. The loose co-ordination between ministries and ministerial-level agencies in the process of construction, appraisal, and inspection of legal documents also contributed to the problem.

Moreover, improper allocation and use of the State budget continued. The use of public property in some places remained ineffective and wasteful. The implementation of plans to rezone State-owned land and houses was also slow.

The implementation of regulations on public investment management in some places was not strict enough and the approval of project investment was ineffective, according to the report.

In reply to the report, National Assembly Vice Chairman Uông Chu Lưu said it should focus on raising issues of public concern and analyze the reasons and possible solutions.

The head of the National Assembly’s Justice Committee, Lê Thị Nga, said the report should identify organisations and individuals who cause losses and waste so they can be strictly penalised, especially the heads of organisations responsible.

Addressing the closing ceremony, NA Chairwoman Ngân said the NA Standing Committee completed the planned content for the 49th session.

At the session, the NA Standing Committee agreed with the Government proposal on a plan to save nearly VNĐ5.5 trillion ($244 million) in spending of the 2015 State budget.

Regarding the collection of VNĐ10 trillion ($448 million) from the selling of ownership at State-owned businesses in 2015 that was unused, the committee proposed the Government finalise a report to be presented at the first session of the 14th NA to use it for development investment with priority given to salt water intrusion prevention and climate change.

The NA Chairwoman asked members of the NA Standing Committee to continue the prompt implementation of conclusions made by the committee. — VNS

 

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