The People’s Committee of Quang Binh province recently held a conference to discuss solutions to increase revenue and manage the budget for 2024.
According to the information at this conference, as of December 31, 2023, the budget revenue in the province did not meet the estimated target, reaching only VND 5,655.6 billion, equivalent to 91.9% of the central government’s estimate and 80.8% of the local estimate, a decrease of 32.26% compared to 2022. Consequently, the budget deficit of the province in 2023 compared to the estimate provided by the Provincial People’s Council is VND 751 billion, with the provincial budget revenue shortfall at VND 585 billion and the district budget revenue shortfall at VND 188 billion.
The reasons for the budget revenue shortfall in 2023 are both objective and subjective. The objective reasons include a stagnant real estate market, difficulties faced by businesses in terms of capital, market, input factors, import-export activities, and more.
The subjective reasons include the unsustainable structure of budget revenue in the province; certain areas, sectors, and tax categories still experience tax losses; management of businesses, business locations, tax evasion, and incorrect tax reporting are not stringent enough, with high and increasing tax debts. In addition, the coordination in budget revenue collection in some sectors and localities in Quang Binh province is not yet smooth, especially in the field of land which encounters difficulties in procedures, market, and prices.
In 2024, the budget revenue in the province has been set at VND 6,070 billion, with the Quang Binh Tax Department assigned to collect VND 5,370 billion and the Quang Binh Customs Department assigned to collect VND 700 billion.
Based on a precise assessment of the reasons for the budget revenue shortfall in 2023 and the tasks set for 2024, at the conference, the delegates concentrated on proposing solutions to quickly adjust plans regarding auctions, land use rights, resolutely reclaim projects that do not meet the progress, improve the quality of project appraisals, create opportunities for the development of projects in the province, and effectively manage investment expenses. Additionally, there must be strong measures in dealing with the recovery of tax debts.
At the conference, Tran Thang, Chairman of the People’s Committee of Quang Binh province, requested the Quang Binh Tax Department to coordinate with departments, agencies, and localities to promote growth in various sectors and fields in order to achieve the economic growth target for 2024 as planned and lay the foundation for meeting the budget revenue estimate. Simultaneously, the Quang Binh Tax Department must focus on handling tax arrears and preventing tax losses, as well as strengthen propaganda and implementation of tax policies to the public and businesses.
Chairman Tran Thang also directed the Quang Binh Customs Department to continue to implement synchronized and decisive measures to enhance the effectiveness of state management, prevent budget revenue losses in 2024.
In addition, the Quang Binh Customs Department will ensure the efficient operation of online public services, the national one-stop mechanism, and contribute to administrative procedure reform and customs clearance time reduction, providing favorable conditions for foreign businesses with large budget contributions as well as economic groups engaged in import-export activities to increase state budget revenue.
