Provincial budget revenue is quite good.

The tax sector's state budget collection in the first 3 months of 2024 has completed 1/3 of the year's journey, reaching 30.7% of the province's assigned estimate, an increase of 16.17% over the same period last year.

Domestic revenue improves but still worries…

In the first quarter of this year, the province's economy achieved positive results in many areas. The province has many opportunities for rapid development, especially the Binh Thuan Provincial Planning for the period 2021 - 2030, with a vision to 2050, which has been approved by the Government; continuing to take advantage of the Vinh Hao - Phan Thiet and Phan Thiet - Dau Giay expressways that have been opened to traffic, and vibrant tourism services... This has contributed to promoting the province's socio-economic growth, creating favorable conditions for state budget collection in the province. At the same time, the provincial Party Committee, the provincial People's Council and the provincial People's Committee have paid attention to and regularly directed the state budget collection. The coordination of sectors and levels, especially the tax sector, has focused on solutions for state budget collection, focusing on key revenue sources and promoting debt settlement. Thanks to that, the budget revenue in the first 3 months of this year was 3,070 billion VND, reaching 30.7% of the estimate and increasing by 16.17% over the same period last year. If excluding revenue from import and export activities, domestic revenue in the first 3 months was 2,758.7 billion VND, reaching 30.64% of the estimate and increasing by 14.89% over the same period last year.

Vibrant tourism activities have a positive impact on the economy, contributing to increased budget revenue.

Notably, the non-state revenue sector collected 733.6 billion VND, reaching 44.22% of the estimate, with a strong growth of 19.39% over the same period. In addition, there are also revenue items with good progress such as: Land and water surface rent (reaching 67.43%); revenue from lottery activities (reaching 44.22%); revenue from public land fund and other public property benefits (reaching 35.48%); personal income tax (reaching 35.05%); fees and charges (reaching 31.15%)... Ms. Tran Thi Dieu Hoang - Director of the Provincial Tax Department assessed: Although the domestic budget revenue results were quite good, especially the non-state revenue growth, there were still unstable factors. Because the increase was mainly due to real estate transfer activities, debt collection of large debt units into the budget.

In addition, 7/16 revenue items still decreased sharply compared to the same period, such as: revenue from the central state-owned enterprise sector (down 47.83%); revenue from granting mineral exploitation rights (down 35.52%); registration fees (down 23.9%); other budget revenues (down 21.27%); revenue from foreign-invested enterprises (down 17.82%); revenue from local state-owned enterprises (down 13.08%); fees and charges (down 17.62%) and non-agricultural land use tax (down 14.64%). The reason is due to the general difficulties of the economy, the province's revenue is still small, land issues have not been thoroughly resolved, and revenue from power plants has decreased. Along with that, the impact of the Government's tax exemption and reduction policies has reduced revenue.

Business production activities of enterprises are still difficult.

Solution to increase budget revenue

According to forecasts, the socio-economic situation of the province in the remaining months of 2024 will be in a context of mixed difficulties and advantages. The province's main sources of revenue such as land revenue and revenue from thermal power plants are still lower than the assigned estimates. Enterprises still face many difficulties in production and business activities, access to capital, prolonged production and business losses, many enterprises operate at a standstill, stop, or temporarily suspend business... leading to an increase in tax debt as well as difficulties in exploiting revenue from enterprises in the province... This will affect the state budget collection in the last 9 months of the year.

Focus on exploiting potential revenue sources.

Chairing a recent meeting on budget collection, Chairman of the Provincial People's Committee Doan Anh Dung emphasized: "The task of collecting state budget is a very important indicator in the socio-economic development indicators". The Chairman of the Provincial People's Committee said that although budget collection increased compared to the same period, it was lower than the national average, some revenue sources increased but were not stable. On the other hand, revenue management was not thorough, especially revenue sources from land, minerals, etc.

The Chairman of the Provincial People's Committee directed many key solutions to increase the provincial budget revenue, in which the responsibilities of departments, branches, sectors and localities are attached; especially the role of the tax sector in managing and exploiting revenue sources. Accordingly, it is necessary to promote administrative procedure reform, improve the investment and business environment; support and remove difficulties and obstacles for enterprises and investors to develop production and business. Speed up the auction of land use rights in the area, promptly urge land revenues to the State budget. Strengthen promotion, call for and attract capable and potential investors to create stable revenue sources. In addition, speed up the approval of investment projects to create new revenue sources; speed up the disbursement of public investment capital, put capital into circulation to promote economic development. The tax sector strictly manages budget revenue sources in the province, promotes the fight against revenue loss, and focuses on exploiting potential revenue sources such as gasoline, food and beverage services, entertainment, revenue from digital business, e-commerce, etc.

In 2024, the Provincial Tax Department was assigned by the Provincial People's Council to estimate the state budget revenue at VND 10,000 billion, of which domestic revenue is VND 9,005 billion and revenue from import-export activities is VND 995 billion.

Source