An aerial view of Bac Giang province (Photo: congthuong.vn) Bac Giang (VNA) - The People’s Committee of the northern province of Bac Giang hasrolled out measures to bolster State budget collections by 16-18 percent in 2021-2025.
Domestic revenue is expected to hit 18.5 trillion VND (800 million USD) by2025. Of which, taxes and fees will contribute 12 trillion VND and collectionsfrom land rentals 6.5 trillion VND.
Bac Giang willalso work to fund regular spending from the provincial budget, striving tocover 85 percent of expenditure by the next five years, with Bac Giang city and VietYen district set to become self-reliant financially.
To realise the targets,the province will focus on seeking new sources of earnings throughsocio-economic development planning and infrastructure and investmentpromotions.
In addition, BacGiang is to effectively carry out administrative reform. Tax agencies are askedto hold dialogue with firms and create optimal conditions for them. The applicationof information technology in tax collection also needs to be bolstered.
The province willenhance collaboration between the tax sector and other sectors in the time to come tospeed up budget collections and prevent tax fraud and evasion.
Bac Giang’s budgetcollections surpassed 2.92 trillion VND in the first quarter of 2021, a year-on-yearincrease of 26.1 percent. Collections from land rentals rose 90.8 percent,while those from industry and trade taxes were up 22.7 percent./.
