In 7 months, the city's domestic budget revenue reached 18,650 billion VND, equal to 70.9% of the estimate assigned by the Central Government, 53.3% of the estimate assigned by the People's Council, increasing [...]
8/17 satisfactory revenue
The biggest improvement in domestic budget collection this year is the revenue from the foreign-invested enterprise sector. In 7 months, this area has contributed more than 2,600 billion VND, equal to 75.2% of the whole year's estimate, an increase of more than 20% over the same period in 2020.
Explaining this, leaders of the Hai Phong Tax Department said that the results were due to some businesses continuing to produce and do business effectively and have high budget payments. That is, Hai Phong Industrial Park Joint Stock Company paid an increase of VND 36.7 billion due to infrastructure taxes of new businesses. Some businesses have increased payments of up to hundreds of billions of VND such as Doosan Hai Phong Vietnam Heavy Industry Co., Ltd., Chevron Lubricants Co., Ltd., Phu Lam Company, ChinFon Cement Company, Toyada Gosei Co., Ltd.... Some foreign-invested enterprises located in Dinh Vu-Cat Hai Economic Zone have expired their tax incentives and started paying taxes, so this is also one of the factors to increase budget revenue.
The second revenue that also has many mutations is personal income tax (PIT). After 7 months, personal income tax reached 76.5% of the estimate. That result is because the city controlled the epidemic well, so foreign experts went to Hai Phong to work. In addition, according to Decree 82 dated May 22, 2018 of the Government on the management of Economic Zones and Industrial Parks, in many cases the time to enjoy a 50% reduction in personal income tax has expired, contributing to increasing this revenue.
In addition, there are a number of other revenues that basically meet the progress such as the local State enterprise sector reaching 61.7%; Environmental protection tax reached 61.9%; Registration fees reached 75.7%; Non-agricultural land use tax reached 92.5%; Revenue from lottery activities reached 60.4%; Other budget revenue reached 65.2%…
Strive to the finish line
However, the pressure on budget collection in the last months of the year is also huge. According to the Hai Phong Tax Department, with the remaining estimate, in the last 5 months of the year, the average monthly revenue must be nearly 2,900 billion VND while the average revenue in the past 7 months reached nearly 2,700 billion VND/month. Specifically, revenue from the central state-owned enterprise sector in 7 months only reached 45.9% of the estimate; Revenue from the non-state sector only reached 46.4%; Fees and charges reached 52.7% due to a shortfall in seaport fee collection compared to the estimate (7 months shortfall of 90.7 billion VND) and a shortfall in tour fee collection compared to the estimate of 31.6 billion VND. Land use fee collection has only reached 35.4% of the estimate. Among them, some localities have low land use fee collection progress such as: An Duong 20.8%, Ngo Quyen 48.7%, Hai An 33.5%, Kien An 32.9%, Do Son 27.9%, Thuy Nguyen 24.8%, Cat Hai 13.5%. Land rent only reached 57% due to the implementation of tax deferral according to Decree 52/2021/ND-CP of the Government, many units reported extending the land rent payment time with a total amount of 87.6 billion VND. The remaining revenues were also low such as capital recovery and profit reaching 51.5%; public land fund collection 37.8%. Some key enterprises also paid a reduced budget such as: Hai Phong Thermal Power Joint Stock Company reduced by 147.5 billion VND; VIPCO Petroleum Transportation Joint Stock Company decreased by 20.1 billion VND; Hai Phong Electricity Company Limited decreased by 12.3 billion VND. VinFast Production and Trading Co., Ltd. only paid 2,986 billion VND in 7 months (shorter than the average 7-month receivable estimate of 1,496 billion VND)…
With a key role, the Tax Department proactively proposes, advises and has many solutions to increase revenue in the last months of the year. Accordingly, the Tax Department advises the City People's Committee to strengthen the activities of the Steering Committee to prevent budget loss, especially in the fields of basic construction, commercial business, transportation and in the fields of land, natural resources, minerals... At the same time, promote the calculation of land use fees of a number of large projects; Organize land auctions in localities according to approved plans, promptly collect and pay land rent and land use fees into the state budget. The Tax Department continues to strictly manage organizations and individuals with production and business activities in the area, especially revenue from business activities.commercialism; gasoline, oil, gas products..., current capital construction activities, contractor tax of goods and service provision activities of foreign organizations and individuals but not present in Vietnam, promptly guide declaration and timely payment to the state budget... The Tax sector has developed and implemented projects to prevent tax loss for a number of fields; Gradually review and implement tax collection management for e-commerce business activities, contributing to increasing revenue and preventing budget loss.
Despite many difficulties, the city is determined to exceed the domestic budget revenue estimate for 2021. Meetings of the Standing Committee of the City Party Committee, the City Party Committee, and the City People's Committee all place budget revenue as the focus in leadership, direction, and administration.
Completing the revenue estimate of VND 33,000 billion this year, Hai Phong will mark a new mark on outstanding growth in domestic budget collection. The city's revenue potential is still large. If determination is high and measures are synchronous and appropriate, Hai Phong will certainly achieve its set goals./.
Hong Thanh. Photo: Trong Luan
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