Ninh Binh overcomes difficulties to fulfill task of budget collection in 2022

In the first months of 2022, some economic sectors still faced a wide range of difficulties, the effectiveness of their production and business remained low.

In particular, some big enterprises that have made great contributions to the province's budget collection encountered numerous difficulties.

The high prices of materials led to rising costs for production and business activities, while the labour and material shortages have forced companies to cut down their production, therefore reducing their contributions to the state budget.

Specifically, the province's state budget collection in the first six months of this year reached 10.45 trillion VND (447.44 million USD), equivalent to 52.2% of the yearly estimate and down 1.9% from the  same period last year.

Of the total, domestic collection was 7.52 trillion VND, accounting for 72% of the total revenue, equivalent to 47.3% of the yearly estimate and a year on year rise of 4.7%.

Revenue collected from domestic firms and household businesses was 5.94 trillion VND, equivalent to 56.8% of the total revenue. Revenue from land use fees was over 781.5 billion VND.

Meanwhile, incomes from import and export activities in the first six months of this year exceeded 2.92 trillion VND, accounting for 71.4 % of the yearly target and down 15.5%.

The implementation policies on tax and fee reduction and tax payment extension as well as the fall in revenue collection from land have caused great impacts on the budget collection activity.

Amid these difficulties, the Ninh Binh Provincial People's Committee has steered local sectors and administrations at all levels to strictly implement the Government's policies to revive and boost socio-economic development in the new context.

Besides, the provincial People's Committee has also instructed the performance of drastic measures to foster the province's socio-economic development and carried out policies to assist local people and firms affected by the COVID-19 pandemic.

2022 is the first year Ninh Binh has balanced its collection and spending itself, therefore, budget collection is considered a tought task for the province, requiring the greater efforts of administrations at all levels.

The finance sector has implemented the directions of the provincial People's Committee, Ministry of Finance, General Department of Tax, andGeneral Department of Customs to manage the budget collection.

In addition, it has worked closely with sectors, branches and localities to support firms overcome hindrances to maintain their production and business.

The tax and customs sectors have focused on solutions to nurture revenue sources in combination with expanding budget contributors; improve the effectiveness of tax inspection and prevention of tax losses; strictly control and promptly collect outstanding debts.

Translated by Nguyen Thuy