New "milestone" in state budget revenue

In 2024, Thanh Hoa province has proactively and drastically implemented many solutions to collect the state budget, implemented preferential tax policies, support fees, and restored production and business, in order to promote socio-economic development. Thanh Hoa's budget revenue reached a record number, ranking first in the North Central region, among the top 10 localities with the highest revenue in the country and returning to the club of budget revenue of over 50,000 billion VND/year.

The high-end sock and bra factory of Jasan Vietnam Co., Ltd. in Dinh Lien commune (Yen Dinh) has boosted production and business activities, contributing to increasing budget revenue.

Flexible budget collection solutions

In 2024, under the timely and close leadership and direction of the Provincial Party Committee, the Provincial People's Council, the Provincial People's Committee, together with the joint efforts of all levels, sectors, the business community and the people, the province's financial and budgetary tasks achieved many positive results, creating a premise for the successful completion of the province's socio-economic targets for the period 2021-2025. In particular, solutions to promote increased state budget revenue were implemented synchronously and proactively. Administrative procedures were reformed, the investment environment was improved, combined with measures to remove difficulties for production and business activities, creating trust for the business community and people in the province.

Regarding domestic revenue, from the beginning of the year, based on the budget announcement of the General Department of Taxation and the Provincial People's Council, the Provincial Tax Department has reviewed and evaluated revenue items to assign quarterly budget estimates to each unit. The Provincial Tax Department has directed its affiliated units to proactively and actively advise local Party committees and authorities on many solutions to prevent revenue loss, effectively exploit revenue sources and promptly remove difficulties and obstacles, creating favorable conditions for taxpayers to conduct production and business activities and fulfill their obligations to the budget. At the same time, coordinate with functional agencies to effectively deploy electronic invoices and modernize tax management processes. Taxpayer management is in accordance with the provisions of the Law on Tax Administration, ensuring that taxpayers with production and business activities and individuals paying personal income tax are all granted tax codes. Taxpayer communication and support work ensures proper communication of policies and regulations and timely support for taxpayers in resolving arising problems.

Thanh Hoa Tax Department supports people and businesses in declaring and paying taxes.

Regarding state budget revenue from import and export activities, Thanh Hoa Provincial Customs Department has focused on promoting administrative procedure reform, improving the professionalism and sense of responsibility of officials and civil servants in performing their duties, creating trust for businesses. The unit has participated in operating the online public service system, minimizing the submission of paper documents, creating conditions for quick customs clearance for import and export goods. At the same time, it continues to effectively implement the signing of the Customs - Enterprise cooperation agreement, creating an open and favorable business environment, creating all favorable conditions for businesses and attracting new businesses to carry out customs procedures at the unit. In particular, to exploit revenue sources well, Thanh Hoa Provincial Customs Department is also actively coordinating with the Management Board of Nghi Son Economic Zone and the province's Industrial Parks to stimulate import and export activities through Nghi Son Port.

Achieved record revenue

With the synchronous and flexible application of solutions, the total state budget revenue in the area in 2024 will reach about 55,585 billion VND, exceeding 56.3% of the estimate and increasing by 28.7% compared to 2023. This is a new "milestone" bringing Thanh Hoa back to the club of budget revenue of over 50,000 billion VND/year. Of which, domestic revenue is estimated at 34,750 billion VND, exceeding 57.8% of the estimate, increasing by 31.6% over the same period. Some revenue targets have a large proportion and are higher than the estimate, such as: revenue from foreign-invested enterprises is estimated at 7,850 billion VND, exceeding 63% of the estimate; revenue from the non-state economic sector is estimated at 3,441 billion VND, exceeding 27.4% of the estimate; Environmental protection tax revenue is estimated at 1,837 billion VND, exceeding 27.3% of the estimate; land, water and sea surface rental revenue is estimated at 1,335 billion VND, exceeding 196.7% of the estimate...

Revenue from import and export activities is estimated at VND 20,835 billion, exceeding the estimate by 53.8%, up 24.3% compared to 2023. Of which, import tax on crude oil of Nghi Son Refinery and Petrochemical Company Limited reached VND 16,374 billion, accounting for about 80% of total revenue from import and export activities. CMA-CGM shipping line from France has returned and is operating regularly with a frequency of 1 trip/week and Hai An Shipping Joint Stock Company provides container freight services through Nghi Son seaport.

Produced at Dai Duong Cement Joint Stock Company (Nghi Son Economic Zone)

The 2024 state budget revenue results far exceeded expectations, clearly showing that Thanh Hoa's economy is on the path of recovery and development. This also shows that the timely decisions that the province has been implementing are correct. This result occurred in the context of the world situation continuing to develop complicatedly due to escalating security and political instability in a number of countries and regions; global trade and investment are recovering slowly, many major economies continue to operate tight monetary policies, creating pressure on the financial markets of developing countries. The outstanding results of 2024 create momentum for state budget revenue agencies to be determined to complete the 2025 targets at the highest level.

Expecting to create new breakthroughs in the new year, the Party Committee and the government of Thanh Hoa province will always accompany businesses to lead, direct, and manage economic development, effectively implement mechanisms and policies, ensure businesses have access to capital with low interest rates, and continue to improve the investment and business environment. Strive to remain a member of the club with a budget revenue of 50,000 billion VND/year and maintain a position in the top 10 provinces and cities with the highest revenue in the country.

Article and photos: Khanh Phuong

Source: https://baothanhhoa.vn/moc-son-moi-trong-thu-ngan-sach-nha-nuoc-235352.htm