(HBO) – For 2020, Hoa Binh is assigned to collect 4.44 trillion VND of State budget by the Prime Minister and 5 trillion VND by the provincial People’s Council. According to the provincial People’s Committee, in the first nine months of 2020, the province’s State budget collection was estimated at nearly 2.5 trillion VND, including over 2.32 trillion VND of domestic collection, equivalent to 55 percent of the target set by the Prime Minister and 49 percent of the amount assigned by the provincial People’s Council.

Meanwhile, the province’s collection from import-export activities was estimated at 177.28 trillion VND, equal to 98 percent of the goal set by the Prime Minister and 81 percent of the target assigned by the provincial People’s Council.

Garment and textile firm Esquel in Luong Son industrial park has overcome pandemic to stabilise production and contribute to the provincial budget collection.

Budget collection in the first nine months was low, making it difficult for the province to fulfill the target for the whole year. One of the major causesof the situation was the record low water level of HoaBinhlake, affecting the power production of the Hoa Binh Hydropower Plant. In the period, the plant only produced 5.38 billion kWh of electricity, equivalent to only 70.7 percent of the amount generated in the same period last year, down 2.18 billion kWh over the same period of 2019. Therefore, tax payment from the plant was only about 575 billion VND, equivalent to 73.3 percent of that in the same time of 2019.

Due to the slow implementation of projects, the tax collection from land use was only 495 billion VND, reaching only 28.6 percent of the yearly target.

Meanwhile, the socio-economic situation was difficult due to impact of the COVID-19 pandemic, leading to a fall in production and business of many companies and households. In the first nine months of this year, tax collection dropped by 78 billion VND.

Besides, the provincial People’s Committee held that a number of policies given by the National Assembly and Government to remove difficulties for businesses affected by COVID-19 were also among reasons of the reduction in budget collection.

Specifically, the amount of tax with extended date of payment for the whole year is 83 billion VND, which was 42.5 billion VND as of the end of September. The amount is projected to be paid in the rest of the year.

At the same time, COVID-19-affected businesses have enjoyed 15 percent down in land rent in 2020, while many other policies have also impacted the collection of tax for State budget.

In the rest of the year, the province face tough mission that require high determination from the whole political system.

In order to fulfill the State budget collection targets for 2020, the provincial People’s Committee has asked for the effective implementation of a project to generate income sources and strengthen the budget collection management in the province.

Income sources from taxes and fees will be mobilised, along with income from land and natural resources as well as administrative violation settlement. At the same time, the management of collection of taxes and tax debts as well as the auction of State property will be put under close supervision.

The province will strengthen communications to encourage tax payers to pay taxes, while reviewing and mobilising capital for development investment, especially from land use.

For the taxation sector, Vu Hong Long, head of the provincial Department of Taxation, said that all agencies of the sector will roll out measures to manage taxes, including the increase of inspection and examination to prevent tax avoidance as well as the management of tax debts, completing the targets in tax collection and inspection.

Capital construction and income from land as well as tax collection from business households will also be controlled closely, he said, adding that the sector will also modernise its tax management system in parallel with administrative reform to improve the business environment and enhance the competitiveness of the province./.

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