Manage budget revenue effectively, ensure resources to perform spending tasks
12/26/2022
With the timely promulgation and effective implementation of the fiscal policy, in the first 6 months of 2022, state budget revenue reached 66.7% of the estimate, contributing to ensuring the source for the implementation of the tasks. spending according to the estimate and supporting the program of socio-economic recovery and development.
State budget revenue reached 941.3 trillion USD
According to the Ministry of Finance, the state budget collection results in the first 6 months of the year were positive, important areas, fields and revenues estimated progress were quite good and increased over the same period, contributing to ensuring food resources. carry out budgeted expenditure tasks and support the Socio-Economic Development and Recovery Program.
Accumulated in the first 6 months of 2022, state budget revenue reached USD 941.3 trillion, equaling 66.7% of the estimate (central budget revenue reached 66.4% of the estimate; local budget revenue was estimated at approximately approx. approximately 67% of the estimate), an increase of 19.9% over the same period in 2021.
Of the above total, domestic revenue reached 747.9 trillion USD, equaling 63.6% of the estimate, up 16.4% over the same period. There are 10/12 revenues and domestic revenue groups, the progress of which is quite good compared to the estimate (over 55%), and the other 2 revenues that have not met the estimated schedule are the collection of environmental protection tax (48% of the estimate). and capital recovery, dividend collection, profit, profit after tax, difference between revenues and expenditures of the State Bank (40.5% of the estimate).
Revenue from crude oil reached 35.4 trillion USD, equaling 125.6% of the estimate, up 87.2% over the same period, the average oil price in 6 months reached about 100.4 USD/barrel, higher than 40.4 USD/barrel compared to the estimated price; output reached 4.21 million tons, equaling 60.1% of the plan. Balanced budget revenue from import-export activities reached 157.9 trillion dollar, equaling 79.4% of the estimate, up 28.3% over the same period; VAT refund under the regime of 67.7 trillion USD, equaling 44.2% of the estimate.
Import and export activities in 6 months have positive growth; the export and import turnover of goods as of June 30, 2022 reached 371.2 billion USD, up 16.4% over the same period, in which the turnover of goods contributing a large amount of revenue to the state budget increased sharply such as: : petroleum, plastics, chemicals, phones and components, iron and steel of all kinds, computers, imported electronic products... have contributed to increasing budget revenue in this field.
Budget expenditure management is also implemented closely, thoroughly saving regular expenses right from the beginning of the year estimate and in the operating process, associated with the implementation of restructuring the apparatus, streamlining the budget. mechanism and renewal of the public non-business sector according to the Resolutions of the 6th Central Conference (Term XII).
Accordingly, in the first 6 months of 2022, state budget expenditure is estimated at 713 trillion USD, equal to 40% of the estimate. In which, development investment expenditure reached 28.6% of the estimate, debt interest payment reached 50.1% of the estimate, recurrent expenditure reached 45.8% of the estimate, promptly meeting the expenses incurred according to the progress. performance and assigned estimates of budget-using units.
The balance between the central budget and local budgets is ensured. In the first 6 months of the year, the Ministry of Finance has issued 69 trillion dollar of Government bonds, with an average term of 14.75 years and an average interest rate of 2.45%/year.
Exemption, reduction and extension of about USD 39.8 trillion in taxes, fees and charges
Along with the task of budget revenue and expenditure, the Ministry of Finance has synchronously implemented fiscal policy solutions to support the program of socio-economic recovery and development. The Ministry of Finance has actively developed and submitted to competent authorities for promulgation policies on state budget revenue and expenditure, balancing to ensure resources for the implementation of the Program.
Regarding state budget revenue, along with organizing the implementation of tax, fee and tax exemption and reduction according to documents issued from the end of 2021 that will take effect in 2022, the Ministry of Finance has presided over, coordinate with related ministries and branches to promptly submit to the Government for promulgation: Decree No. 15/2022/ND-CP dated January 28, 2022 on tax exemption and reduction policies according to Resolution No. 43/2022/QH15; Decree No. 34/2022/ND-CP dated May 28, 2022 extending the deadline for payment of value added tax, corporate income tax, personal income tax and land rent in 2022.
In addition, in the face of complicated developments in the world petroleum market, gasoline prices increased sharply, putting pressure on inflation and production and business activities of enterprises and people's lives, the Ministry of Finance has report to the Government to submit to the National Assembly Standing Committee for promulgation of Resolution No. 18/2022/UBTVQH15 dated March 23, 2022 on reducing environmental protection tax rates for gasoline, oil and grease (according to the order and procedures for withdrawal concise), applicable from April 1, 2022 to the end of December 31, 2022.
According to the Ministry of Finance, in the first 6 months of the year, the total amount of tax, land rent, fees and charges that have been exempted, reduced or extended is about USD 39.8 trillion, of which: the amount of renewal is about 7, 4 trillion dollar, equal to 5.5% of the expected extension (135 trillion dollar) when formulating policies; the amount of exemption or reduction is about 32.4 trillion USD, equal to 35.8% of the total amount expected to be exempted or reduced (90.5 trillion USD) when formulating policies. Including 6.1 trillion USD in the amount of exemption and reduction according to Resolution No. 406/NQ-UBTVQH15 dated October 19, 2021 of the National Assembly Standing Committee (policy issued from 2021, the impact on revenue reduction is book in early 2022 when finalizing tax in 2021), the total amount of exemption, reduction and extension in the first 6 months of 2022 is about USD 45.9 trillion.
In parallel with the solutions on budget revenue, the Ministry of Finance has submitted to the Government and the Prime Minister for promulgation Decree No. 36/2022/ND-CP dated May 30, 2022 on interest rate support for loans. loans at the Bank for Social Policies, loan capital, interest rate compensation and management fees for the Bank for Social Policies to lend according to Resolution No. 43/2022/QH15 of the National Assembly; Decision No. 09/2022/QD-TTg dated April 4, 2022 on credit for students with difficult circumstances to buy computers and equipment for online learning.
To ensure resources for the implementation of the Program, the Ministry of Finance has reported to the Government to submit to the National Assembly Standing Committee for decision on a plan to use revenue increase, savings, reduction and the remaining source of the central budget in the year. 2021, of which 6,840 billion USD will be added to implement the Program.
At the same time, the Ministry of Finance proposed to the Government in Resolution No. 77/NQ-CP dated June 8, 2022 on the regular Government meeting in May 2022, requesting ministries, central agencies and localities radical method of saving recurrent expenses; review and arrange spending tasks that are not really urgent; resolutely cut down the central budget expenditures that were assigned in the early year estimate but have not been allocated by June 30, 2022 (except for special cases decided by the Prime Minister) to supplement resources for implementation. Programme.
State budget balance is ensured in the context of implementing support solutions, ensuring resources for socio-economic recovery and development, which has shown flexibility and efficiency in implementing solutions. financial management - budget of the Ministry of Finance over the past time. This is a solid premise for the Ministry of Finance to continue effectively implementing the task of state budget management and administration in 2022, promoting the country's socio-economic recovery and development.
