Circular No. 49/2024/TT-BTC guiding the development of the state budget estimate for 2025 and the 3-year state budget-finance plan for 2025-2027.
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The Circular clearly states the construction of the State budget revenue estimate for 2025. Accordingly, the general principle is that the State budget revenue estimate for 2025 must be constructed in accordance with the provisions of the State Budget Law, the Law on Tax Administration, the Laws on taxes, fees, charges, other relevant legal documents and Directive No. 17/CT-TTg dated May 22, 2024 of the Prime Minister, ensuring correct and sufficient collection of State budget revenue sources, consistent with the implementation situation of previous years and the highest implementation of the State budget revenue targets for the 5-year period of 2021-2025.
Building the 2025 revenue estimate closely follows the domestic and foreign socio-economic and financial situation, specifically calculating the factors of increase, decrease and shift in revenue sources due to changes in legal policies on revenue and revenue management, especially policies on tax, fee and charge exemption and reduction and extension of tax and land rent payment deadlines that have expired, the implementation of the roadmap for tax reduction and incentives to fulfill the Government's commitments in the process of international economic integration with foreign investors, and the implementation of regulations against global tax base erosion.
Building revenue estimates must be associated with drastic implementation of administrative reform measures, modernizing revenue management; strengthening management, preventing revenue loss, especially preventing tax loss in business and real estate transfer; effectively managing new revenue sources arising in the context of developing digital economy and e-commerce; stepping up tax inspection and examination, preventing transfer pricing, tax evasion, tax fraud, drastically handling tax arrears and strictly controlling tax refunds.
Strive to estimate domestic revenue in 2025, excluding land use fees, lottery revenue, money from selling state capital at enterprises, dividends, after-tax profits and the difference between revenue and expenditure of the State Bank, to increase by at least 5-7% nationwide compared to the estimated implementation in 2024 (excluding factors of revenue increase or decrease due to policy changes); the revenue growth rate in each locality is consistent with economic growth and revenue sources arising in each locality, taking into account factors of strengthening revenue management, preventing revenue loss and recovering tax debts. Estimated revenue from import-export activities in 2025 increases by an average of about 4-6% compared to the estimated implementation in 2024.
Develop a VAT refund estimate according to the provisions of the Law on Value Added Tax
Based on the actual situation and socio-economic development goals in the area; production and business plans of export enterprises, total number of newly licensed projects and investment capital, investment progress of ongoing investment projects and new investment projects, investment projects that have completed the investment phase and moved to the business operation phase in the area to correctly, fully and promptly calculate the expected value-added tax refund in 2025 according to current policies and regimes and new policies and regimes that come into effect.
Building a budget for value-added tax refunds is closely linked to the requirement to strengthen tax refund management, supervision, inspection, and post-refund VAT audits to ensure compliance with actual occurrences and policies.
Build a budget for non-refundable aid
According to the Circular, the development of the 2025 State budget revenue estimate for foreign non-refundable aid sources must be based on and closely follow the implementation of the 2024 State budget estimate (assigned budget amount, capital received from donors, implemented capital); documents of the Program, project, non-project or aid approved by competent authorities in Vietnam; documents on aid commitments, aid letters or documents on aid intentions of donors; actual implementation progress, new possibilities of arising and implementation during the year, limiting the situation of lack of estimates leading to having to submit additional estimates to competent authorities or not fully implementing them, leading to having to cancel the estimate or transfer sources. In the process of developing the State budget revenue/expenditure estimate for foreign non-refundable aid capital, the program/project/non-project owner and the level I budget estimate agency (managing agency) need to determine the nature of investment and regular expenditure, detail each content/expenditure field, and clearly define the capital source according to the decentralization according to the regulations on State budget management (if any).
For aid received from 2024 and earlier that is not included in the assigned budget, ministries, central and local agencies shall prepare and summarize it in the 2025 budget to submit to competent authorities for consideration and decision, as a basis for accounting and final settlement according to regulations.
Source: https://thoibaonganhang.vn/phan-dau-du-toan-thu-noi-dia-nam-2025-tang-toi-thieu-khoang-5-7-153737.html
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