State budget collection tops over 975 trillion VND in nine months
State budget collection in the first nine months of this year reached 975.3 trillion VND (42.4 billion USD), equivalent to 64.5 percent of the estimate and representing a drop of 11.5 percent year-on-year, according to the Ministry of Finance.
Hanoi (VNA) – State budget collection in thefirst nine months of this year reached 975.3 trillion VND (42.4 billion USD),equivalent to 64.5 percent of theestimate and representing a drop of 11.5 percent year-on-year, according to theMinistry of Finance.
Of the total,central budget revenue fulfilled 60.4 percent of the estimate andlocal budgetrevenue, 69.8 percent.
The ministry said that the sector deployed measures toachieve the highest target in revenue collection 2020 and strengthened revenuemanagement in the area, prevention of revenue loss, smuggling, trade fraud andtransfer pricing, and reduction of tax debts; while focusing on reviewing taxdebts of branches and classifyinggroups of recoverable tax and irrecoverabletax debts.
Meanwhile, the total State budget spending in nine monthswas over 1.113 trillion VND, equivalent to 63.7 percent of the estimate, rising8.1 percent over the same period in 2019. The spending aimed to meet the demandof socio-economic development, defence, security, State management and paymentfor debts as well as pandemic prevention and natural disaster mitigation.
As of September 24, 17.49 trillion VND had been paid toCOVID-19 pandemic prevention and control and support to affected people.
In the rest of the year, the ministry will direct theAdministration of Taxation to focus on reclaiming tax debts and makeinformation public in line with the Law on Tax Management.
Besides, the ministry will continue assessing the Statebudget collection in 2020 in accordance to economic growth scenarios, whilemaking reports on State budget spending management for the fourth quarter, andcoordinating with relevant agencies to speed up theprogress of capital allocation and disbursement./.
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Illustrative image (Source: VNA) 
