In just 9 months of this year, the province's state budget revenue reached 42,695 billion VND, equal to 120% of the estimate and up 44.7% over the same period. With this result, Thanh Hoa is currently leading the North Central region and is in the "top" 10 localities with the highest revenue in the country. This not only reflects the positive growth momentum in the province's economic sectors, but also affirms the effective measures of the functional sector in the management of state budget revenue.
Prospects of returning to the “50,000 billion Club”
After the first successful maintenance, from the end of 2023 until now, Nghi Son Refinery and Petrochemical Plant has always operated at 15-20% above its design capacity. Also in 2024, the plant received VLCC (very large crude carrier) ships supplying oil to the plant. These ships contributed up to VND 13,761 billion to the budget, accounting for 83.4% of the total revenue from import-export activities of the province. This is also the main driving force for the budget revenue from import-export activities to exceed the estimate by 21.8% and increase by 43.1% over the same period.
Along with revenue from value-added tax on crude oil imports, according to incomplete statistics from the relevant authorities, ancillary activities for the Nghi Son Refinery and Petrochemical Complex are also expected to generate revenue of about VND5,000 billion from taxes on input supply services for the plant.
According to the Management Board of Nghi Son Economic Zone and Industrial Parks (KKTNS&CKCN), not only from the "core" of the oil refinery, entering 2024, the production and business activities of enterprises in the KKTNS&CKCN are still basically stable. Enterprises have created a volume of goods with a value of more than VND 200,251 billion, an increase of 15% over the same period; bringing in budget revenue of up to VND 21,151 billion, an increase of 112% over the same period. In addition to Nghi Son Refinery and Petrochemical LLC, there are famous enterprises that bring in large budget revenue this year, such as: Nghi Son 2 Power LLC; VAS Nghi Son Group Joint Stock Company; Nghi Son Cement Company...
In addition to the increased revenue from import-export activities, domestic revenue also had very positive growth, with 14/17 sectors having revenue quite high compared to the estimate and 13/14 sectors increasing revenue compared to the same period.
Accordingly, with domestic revenue reaching VND 26,194 billion, this revenue source has exceeded the estimate by 119% and increased by 45.7% over the same period. Some revenue items with large proportions achieved higher than the estimate and increased compared to the same period such as: Land use fee revenue reached VND 10,447 billion, up 37.5% over the estimate and increased by 105.9%; revenue from foreign-invested enterprises reached VND 6,311 billion, exceeding 131% of the estimate and increased by 18.1%; revenue from the non-state economic sector reached VND 2,725 billion, equal to 100.9% of the estimate and increased by 16.6%; environmental protection tax revenue reached VND 1,457 billion, equal to 100.9% of the estimate and increased by 32.4%; Land, water and sea surface rental revenue is estimated at 1,235 billion VND, exceeding 174.4% of the estimate and 5.02 times higher than the same period...
If Thanh Hoa continues to maintain its current budget revenue "form" in the remaining months of 2024, it will return to the "50,000 billion VND Club", creating another historical milestone of the highest budget revenue ever.
Nurture potential, long-term revenue streams
Speaking at the Provincial Party Executive Committee Conference to evaluate the results of the first 9 months and set out key tasks for the last 3 months of 2024, representatives of departments and branches said that although it is a very proud achievement, the province's budget revenue still depends heavily on two main sources of revenue from the value added tax of the Nghi Son Refinery and land use fees. Meanwhile, these potential areas have been and are being exploited to the maximum extent; therefore, nurturing other diverse sources of revenue needs to be raised and considered in the long term.
According to the representative of the Tax Department, in order to best complete the collection task, in the last months of the year, the unit will continue to synchronously and effectively deploy solutions to manage and exploit revenue sources, prevent budget losses in accordance with the Law on Tax Administration and the State budget tasks in 2024; promote the application of digital technology, standardize tax debt data throughout the industry; strengthen inspection, examination, and strictly handle cases of arrears, procrastination, and tax evasion; reform administrative procedures, promptly remove difficulties and obstacles, and create favorable conditions for taxpayers to fulfill their tax obligations.
Along with that, the unit regularly grasps and monitors the production and business situation of enterprises, especially key enterprises that contribute greatly to the budget such as oil and gas, tobacco, beer, cement, thermal power, etc. to have plans to advise and direct timely budget collection; regularly review and analyze newly arising revenue sources, strengthen management, urge the collection of tax arrears; regularly inspect and supervise tax declarations of enterprises exploiting natural resources and minerals, organizations and individuals with business activities, real estate transfers, and temporary basic construction works in the province, ensuring correct, sufficient and timely collection, completing the budget revenue estimate for 2024.
In particular, according to the list of land use rights auction projects in 2024 approved by the Thanh Hoa Provincial People's Committee, the whole province has 892 planning land projects, with a total auctioned land area of 804.19 hectares; the expected land use fee collected is about 22,897 billion VND. Currently, most of the land use rights auction projects only organize auctions of a part of the area in the planning area, so the rapid implementation of auctions by localities will continue to increase revenue for the State budget.
Currently, the Management Board of the Economic Zone and Industrial Parks of Thanh Hoa province and the Customs Department of Thanh Hoa province are also actively coordinating to stimulate import and export activities through Nghi Son Port - the "golden goose" of the Thanh Hoa provincial budget. Since the end of 2023, the CMA-CGM shipping line from France has returned and operated regularly with a frequency of 1 trip/week at Nghi Son International Port. Since the beginning of 2024, Thanh Hoa has also recruited Hai An Shipping Joint Stock Company to provide container freight services through the port. Thanh Hoa Customs Department is currently continuing to reform administrative procedures, modernize customs work, facilitate customs clearance of goods; promote attracting domestic and foreign enterprises to participate in import and export activities to register declarations at the unit to create additional revenue for the provincial budget.
Thanh Hoa is making efforts to attract more new large-scale, high-quality projects in the Economic Zone and Industrial Park, develop industrial real estate; at the same time, invest in synchronous infrastructure to attract investment; resolutely direct the implementation, and soon put the factories that have been approved into operation. This is a major orientation and goal of Thanh Hoa province in the growth roadmap, as well as "maintaining" and maintaining a solid position in the "50,000 billion Club" of the whole country.
Article and photos: Tung Lam
Lesson 3: Maintaining the role of supporting the economy
Source: https://baothanhhoa.vn/no-luc-can-dich-cac-muc-tieu-nam-2024-bai-2-nuoi-duong-nguon-thu-phan-dau-vuot-chi-tieu-thu-ngan-sach-o-muc-cao-227493.htm
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