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Vietnam : In the first 6 months of the year, the state budget balance reached 745.4 trillion VND.

The Ministry of Finance was assigned by the National Assembly and the Government to estimate the budget revenue of VND 1,411.3 trillion; in which: domestic revenue estimation is VND 1173.5 trillion; estimation of crude oil collection of VND 44.6 trillion; estimated revenue from import and export activities 189.2 trillion VND; aid revenue of VND 4 trillion. In the first 6 months of 2019, the state budget revenue balance was estimated at 745.4 trillion VND, equaling 52.8% of the estimate, up 13.2% over the same period in 2018.

Determining the key tasks in the state budget revenue, so from the end of 2018, the Ministry of Finance has defined the targets and financial-budget tasks in 2019 as "Continuing to implement strict and effective fiscal policies, coordinating synchronously with monetary policy to support production and business development, continuing macroeconomic stability, controlling inflation, boosting economic growth; strengthening financial and budgetary discipline; practice thrift and combat waste; restructure state budget and public debt in the direction of safety, sustainability, increase the proportion of investment and development spending, align with promoting the organizational structure, streamlining payrolls, reforming the public non-business sector". With the close direction of the Government and the industry's efforts, the state budget revenue in the first 6 months of 2019 has achieved positive results. Specifically:

The state budget revenue balance in the first 6 months of 2019 is estimated at 745.4 trillion dong, equaling 52.8% of the estimate, up 13.2% over the same period in 2018. In which:

Thu inland : 6 months is estimated at 600 trillion VND, equaling 51.1% of the estimate, up 13.6% over the same period of 2018 (same period in 2018 to reach 48% of the budget, an increase of 16.5%). In which, revenue in 3 areas: state-owned, non-state-owned and FDI revenue reached 301,212 billion VND, equaling 47.6% of the estimate and up 13.5% over the same period last year.

Revenue from crude oil : 6 months is estimated at VND 30.35 trillion, equal to 68% of the estimate, equal to 100.7% compared to the same period in 2018. The average price of crude oil is 68.4 USD / barrel, high. 3.4 USD / barrel more than the estimated price; output is estimated at 6 million tons, equaling 57.5% of the plan, equivalent to the same period. Revenues to balance the budget from export activities : estimated at 113.2 trillion VND, equaling 59.8% of the budget, an increase of 13.7% over the same period in 2018, on the basis of total tax revenue estimated at VND 175.1 trillion, equaling 58.3% of the estimate, up 19.2% over the same period in 2018.

Dike? achieved the above positive results, in the first months of 2019, a series of solutions on finance and state budget were implemented by the Ministry of Finance, focusing on implementing the Government's guidance in the Resolution 01 / NQ-CP dated 01/01/2019, Resolution No. 02 / NQ-CP dated 01/01/2019, Directive No. 09 / CT-TTg dated April 1, 2019 on solutions to focus on removing production and business, ensuring the 6-month and 2019 growth targets. Accordingly, the Ministry of Finance has directed tax authorities and customs agencies at all levels from the central to grassroots levels to implement synchronous measures. management of state budget collection, strict control of revenue sources, strengthening of anti-revenue collection in association with promoting administrative procedure reform, facilitating enterprises and taxpayers, focusing on reviewing regulations , regulations, simplification of procedures, continue to strengthen propaganda, dialogue and problems for taxpayers and enterprises to carry out customs procedures; pay attention to tax inspection, inspection, customs valuation, especially anti-transfer pricing; strengthen management and limit tax arrears, contributing to creating an equal production and business environment and increasing revenue for the state budget.

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Publication:Mena Report
Date:Jul 17, 2019
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