State budget spending in the reviewed period was estimated at 713 trillion VND, or 40 percent of the yearly estimates.

Budget collection reaches 66.7% of yearly estimates.

The Finance Ministry has timely proposed the promulgation of policies on exempting, reducing and rescheduling tax, land rents and fees to ease difficulties for and support businesses and the people, with a total value of around 39.8 trillion VND.

State management of the financial, securities and corporate bond markets has been strengthened, while price and market control has been aligned with realities to remove difficulties for production-business activities and people’s life.

However, the ministry noted the complicated situation related to tax evasion and frauds in digital platform-based business, e-commerce and cross-border business.

Besides, the allocation of state budget and disbursement of public investment capital remain slow, failing to stimulate economic growth.

The divestment of State capital in State-owned enterprises failed to meet schedule, affecting budget collection.

In particular, the securities and derivative markets have witnessed increasingly complicated price manipulation, while the corporate bond market saw “hot” growth with potential risks.

The causes of those problems lie in the difficulties facing production and business activities brought about by the impacts of Covid-19 and rising fuel and materials costs, the ministry said.

Slow action by some ministries, sectors and local administrations in implementing budget spending plans plus a lack of severe sanctions are the reason for the delay in allocating State budget and disbursing public investment capital, according to the ministry.

Vietnam climbs 9 places in the Open Budget Survey 2021

Vietnam ranked 68th of 120 countries in the 2021 Open Budget Survey (OBS), up nine places from 2019 and 23 notches compared to 2017, according to the Ministry of Finance.

Budget revenue up 7.7% in first quarter of 2022

Vietnam’s government revenue in the first three months of 2022 was estimated at 460.6 trillion VND (20.1 billion USD), equivalent to 32.6% of the full-year target and up 7.7% over the same period last year.

FDI enterprises pay nearly 360 billion VND to budget

(BGO) - Bac Giang province now has more than 500 foreign direct investment (FDI) enterprises with regular contribution to provincial budget, reported the provincial Department of Taxation in Bac Giang province.

SEA Games 31 receives budget boost from government

Deputy Prime Minister Le Minh Khai has approved an additional budget of VND449 billion ($19.65 million) for SEA Games 31.

Total domestic budget collection increases in first two months

(BGO) – The domestic budget collection in Bac Giang province is estimated at 680 billion VND (29.7 million USD) in February 2022, up 26.2 percent year on year, reported the provincial Taxation Department.

Source: NDO/VNA