Bac Giang to boost budget collections

An aerial view of Bac Giang province (Photo: congthuong.vn)

Bac Giang (VNA) - The People’s Committee of the northern province of Bac Giang has rolled 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) by 2025. Of which, taxes and fees will contribute 12 trillion VND and collections from land rentals 6.5 trillion VND.

Bac Giang will also work to fund regular spending from the provincial budget, striving to cover 85 percent of expenditure by the next five years, with Bac Giang city and Viet Yen district set to become self-reliant financially.

To realise the targets, the province will focus on seeking new sources of earnings through socio-economic development planning and infrastructure and investment promotions.

In addition, Bac Giang is to effectively carry out administrative reform. Tax agencies are asked to hold dialogue with firms and create optimal conditions for them. The application of information technology in tax collection also needs to be bolstered.

The province will enhance collaboration between the tax sector and other sectors in the time to come to speed up budget collections and prevent tax fraud and evasion.

Bac Giang’s budget collections surpassed 2.92 trillion VND in the first quarter of 2021, a year-on-year increase of 26.1 percent. Collections from land rentals rose 90.8 percent, while those from industry and trade taxes were up 22.7 percent./.