Budget revenue progress is gradually improving

According to data from the GDoT, the entire sector collected an estimated 75,600 billion VND in September 2023, representing a 5.5% increase over the ordinance's estimate of 95.2% over the same period last year. The estimated total budget revenue for the first nine months of 2023 was over 1,048.3 trillion VND, equivalent to 76.3% of the estimated amount in the ordinance and 94.9% from the same period in the previous year.

Leaders at the GDoT reported that 13 out of 20 revenues were at or above the estimated tax rate of 76%, while 7 out of 20 revenues were below the target. There are 25 out of 63 localities with an estimated implementation progress of 76% or higher, while the remaining 38 localities have made less progress in terms of revenue.

The leaders of the GDoT also reported on the gradual improvement of the state budget revenue thanks to the tax authorities’ synchronized and drastic implementation of measures to support enterprises in their efforts to recover and develop production and business. This includes promoting administrative procedure reform and digital transformation to modernize and improve tax management efficiency, ultimately reducing costs and increasing business efficiency for enterprises.

In particular, GDoT has reported a total of 102,939 billion VND subject to extension for tax and land rent in the first nine months of the year, with 63,258 billion VND still pending for tax extension.

Focus on budget collection in the sprint period

Implementing Decree No. 36/2023/ND-CP on extending the deadline for payment of excise tax from June 21, 2023, to the present, the estimated amount for the proposed tax extension is 6,064 billion VND. Implementing Decree No. 12/2023/ND-CP on extending the deadline for payment of value-added tax (VAT), corporate income tax, personal income tax, and land rent from April 14, 2023, to now, the estimated amount of tax and land rent eligible for extension was 96,875 billion VND, with 57,197 billion VND expected to be extended.

Concentrate on inspecting and examining high-risk areas

According to the analysis by GDOT, although there has been significant improvement in economic growth and the recovery trend is becoming clearer, there are still many difficulties and challenges facing budget collection in the final quarter of the year.

To ensure that the budget collection task is completed during the sprint period, the Director General of the GDoT, Mai Xuan Thanh, has instructed the entire sector to closely monitor and evaluate the economic situation in the country and the world. The aim is to identify the impacts of fiscal policies implemented by different countries on the production and business activities of domestic enterprises. This will help to identify risks and promptly advise the Ministry of Finance and the Government to come up with proactive scenarios and solutions for operating state budget revenue in October and the fourth quarter of 2023.

For foreign suppliers, it is necessary to check, build a list, and assess those suppliers who have not yet implemented tax registration, tax declaration, and payment; promptly solve problems for the foreign supplier to fulfill its tax obligations as prescribed; and continue to coordinate with relevant units to review and complete the contents of upgrading the web portal for foreign suppliers.

Furthermore, tax leaders have directed that the inspection and examination plan for 2023 and the approved thematic inspection plan for 2023 be implemented as soon as possible. It is essential to continue to accelerate tax system reform and modernization, simplify tax administrative procedures, and maintain tax declaration and payment services, electronic tax refund, and electronic invoice (e-invoice) system. It is crucial to ensure that the information technology (IT) system is operational 24 hours a day, seven days a week to assist taxpayers in fulfilling their obligations to the State budget, beginning with registration, declaration, tax payment, and tax refund, without having to go directly to the tax authority.

It is fundamental to maintain a watchful eye on and motivate the effective execution of Phase 1 of the "Digital Map on Business Households". Additionally, it is essential to regularly evaluate the challenges and obstacles encountered during the implementation process to ensure that Phase 2 is completed and implemented as per the roadmap. Simultaneously, it is crucial to accelerate the development of digital maps of mineral mines, land prices, real estate transfer prices, etc., to improve tax management efficiency and combat budget loss.

Furthermore, GDoT leaders have directed the entire sector to step up inspection and supervision of taxpayer tax declarations and focus on inspecting and reviewing declarations, especially potentially risky business areas. Moreover, it is necessary to promote the use of IT in VAT refund management; develop and promulgate a set of risk management criteria in the classification of tax refund dossiers, and upgrade the application to automatically classify tax refund dossiers subject to prior audit to ensure the implementation deadline; complete the IT application, and maximize support for VAT refund settlement by the tax authority according to the newly issued tax refund process./.