Effort to Complete Budgetary Tasks

Affected by the Covid-19 pandemic and complicated weather, many companies, business households and individuals in Yen Bai province face mountains of difficulties, thus adversely hurting State budget revenue. Amid this reality, the Party Committee and the Management Board of the Yen Bai Tax Department have closely coordinated with relevant bodies and branches to direct and execute solutions to complete assigned budgetary tasks.

Mr. Nguyen Manh Khoi, Deputy Director of the Tax Department, said that to help local companies to deal with difficulties and ensure social security to cope with the Covid-19 pandemic, the Tax Department has effectively carried out resolutions initiated by the Government, including Decree 41/2020/ND-CP on extension of time limit for tax and land rent payment; Resolution 42/NQ-CP on support for people in difficulty; Resolution 84/NQ-CP on tasks and solutions on continued settlement of business difficulties and public investment disbursement and social order and safety amid the Covid-19 pandemic; Resolution 116/2020/QH14 of the National Assembly on corporate income tax reduction in 2020 for enterprises, cooperatives, non-business units and other organizations. Thus, the total budget revenue of Yen Bai province as of December 31, 2020 reached VND3,592.1 billion, equal to 143% of the estimate assigned by the Ministry of Finance, 109% of the estimate assigned by the Provincial People's Council and the Provincial People’s Committee and 106% of the value collected in 2019.

To achieve the above targets, the department has proactively advised and promptly proposed the Provincial Party Committee and the Provincial People's Committee allocate and assign budget tasks and adhere to budgetary management and administration in line with the Budget Law. On this basis, districts, towns, cities and relevant bodies have actively implemented their tasks right from the beginning of the year. The sector hosted monthly sector-wide meetings to evaluate progress, estimate the chance to fulfill the target and propose specific measures for the following months.

The department has also actively consulted the Provincial Party Committee and the Provincial People's Committee to host meetings with local enterprises to discuss and remove difficulties faced by them.

According to Deputy Director Khoi, the Covid-19 pandemic contagion is still complicated and unpredictable in the world; extreme weather and natural disasters are causing enormous economic damage to many regions and localities; and the economy is forecast to recover slowly in 2021, resulting in stiff difficulty in tax collection. For that reason, to carry out the Government's solutions on business and public support but strictly manage revenue sources, ensure sufficient, timely budget collection for State coffers, the tax sector of Yen Bai province is determined to complete State budget revenue tasks in 2021 as guided by the Ministry of Finance, the General Department of Taxation, and the Provincial People's Committee.

By assessing advantages, disadvantages and impacts on the Government's support policies for enterprises and taxpayers, the Yen Bai Provincial Tax Department will actively carry out action programs to realize economic and social development plans and state budget estimates in 2021. The department will fully and comprehensively adopt solutions to support taxpayers to overcome difficulties, restore production, and generate sustainable revenue for the State budget. It will closely monitor the progress of budget collection, specifically assess and analyze each locality, each region, each tax item on a monthly and quarterly basis to make revenue forecasts close to reality. By doing so, the department can identify potential sources of revenue, areas and taxes for sufficient collection.

At the same time, the tax sector will further speed up tax reform; improve electronic tax declaration, payment, refund and invoice services; and ensure the around-the-clock operation of the information technology system. In order to support taxpayers to overcome difficulties, the sector will guide them to arrange timely tax payment when their extension schedule is over. It will strengthen meetings, dialogues and instructions on tax policies, e.g. tax extension, tax reduction and tax administration, according to the Law on Tax Administration 38/2019/QH14, which came into effect as of July 1, 2020.

Source: Vietnam Business Forum