(HBO) - Hoa Binh province is making efforts to realise its State budget collection target for 2020, 5 trillion VND (216 million USD), which is one of the important objectives set in the resolution of the 16th provincial Party Congress.

The single-window section of the provincial Department of Taxation has created favourable conditions for payers to handle procedures.

According to the provincial People’s Committee, Hoa Binh has recorded positive results in the collection of the State budget despite inflation and economic recession’s impact, production and business difficulties, limited investment resources, and the flat property market.

In the first nine months of 2019, the State budget revenue approximated 2.48 trillion VND, equivalent to 80 percent of the target set for Hoa Binh by the Prime Minister and 65 percent of the target set by the provincial People’s Council. The figure grew 10 percent from a year earlier. It consists of nearly 2.29 trillion VND collected from domestic sources, up 3 percent, and 190.48 billion VND from export-import activities, equivalent to 344 percent of that in the same period last year.

Thanks to many concerted solutions, the revenue this year is predicted to hit 4 trillion VND, including 3.81 trillion VND from domestic sources, which will create a driving force for the achievement of the 5-trillion-VND target for 2020.

Over the past years, although budget collection has increased, the annual growth rate is still lower than the target of 17 percent set in the resolution of the 16th provincial Party Congress. The Standing Board of the provincial Party Committee said the revenue target for 2020 is currently one of the five difficult to be achieved.

Recently, the provincial Party Committee issued a plan for realising these five objectives. In terms of the budget revenue target, it assigned the Party unit of the Hoa Binh People’s Committee with instructing the provincial People’s Committee to direct relevant departments and agencies to better carry out Action Programme No. 13, issued on July 19, 2017, by the provincial Party Committee on the implementation of the Politburo’s resolution on policies and solutions to restructure the State budget and public debt management to ensure the safety and sustainability of the national finance.

Relevant agencies were requested to better carry out the plan on creating revenue sources and enhancing the management of the State budget collection in Hoa Binh through 2020, promote the collection from taxes and fees, and pay attention to revenue sources from land and natural resources exploitation.

They were also told to create favourable conditions for tax payers; strictly deal with violations of budget collection regulations; step up the attraction of investment, especially projects that can generate big revenue for the State budget; and accelerate administrative procedures for property projects to create more revenue sources from land. Additionally, it is necessary to zone suitable areas for service, trading and housing purposes while resolutely revoking land from sluggish projects to hand over to capable investors./.


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