Tax sector asked to surpass State budget estimate

Wednesday, 2018-01-31 22:30:28
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PM Nguyen Xuan Phuc speaks at the conference. (Photo: VGP)
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NDO/VNA – The Finance Ministry’s General Department of Taxation should strive to surpass the State budget estimate of more than VND1 quadrillion (US$55.88 billion) by at least 3%, said Prime Minister Nguyen Xuan Phuc.

He made the statement during a conference in Hanoi on January 31 for a review of the sector’s performance in 2017 and embark on the tasks for 2018.

The leader requested that the rate of delayed tax payment should remain below 5% of the total State collection this year.

The PM asked for continuation of the 50% reduction in procedures for specialised inspection and 50% of business requirements, ensuring that 26% of total State spending will be used for development investment and 64.1% for regular expenditure.

PM Nguyen Xuan Phuc visits the Centre for monitoring the IT system of the General Department of Taxation. (Photo: VGP)

To achieve the above targets, he stressed the need to streamline administrative reform by using technological advances in tax declaration, payment, and management, as part of efforts towards scaling down cash payments.

General Director of the General Department of Taxation, Bui Van Nam, said the sector has asked agencies to work hard to achieve the set targets, closely monitor the progress of State budget collections, and step up inspection over tax declarations and payments.

He said at least 18.5% of the total number of businesses will be under inspection this year to prevent a loss of revenue to the State budget.

Last year, the sector collected a record VND1.019 quadrillion for the State budget, 5.2% over the estimate and higher than VND968.58 trillion as assigned.