Hanoi aims to collect US$55.6 million daily for budget

10:20 | 19/10/2018 Economy

The Hanoi State Treasury must collect 1.3 trillion VND (around US$55.5 million) per day for the budge to fulfill the target set for the whole year, said its director Dao Thai Phuc at a recent meeting.

Illustrative photo: VNA

The capital city of Hanoi targeted collection of 238.37 trillion VND (US$10.2 billion) in 2018, a year-on-year increase of 17 percent.

However, according to the Hanoi State Treasury, the total state budget collection through the Hanoi State Treasury was 161.45 trillion VND (US$6.91 billion) as of October 13, accounting for 67.7 percent of the year’s plan. The budget spending through the Hanoi State Treasury was 79.76 trillion VND (US$3.41 billion).

The Hanoi State Treasury had put forward a number of measures to complete the budget collection, such as co-ordinating closely with the city’s tax department and customs department to speed up the collection for the State budget and continuing to urge payment, Phuc said.

In terms of State budget spending, the Hanoi State Treasury would actively co-ordinate with investors to remove obstacles and complete procedures for payment to accelerate the disbursement process of investment projects and reach the central and local target programs, he said.

Ta Anh Tuan, General Director of the Vietnam State Treasury, asked the Hanoi State Treasury to boost administrative reforms and expand, modernise and digitise the collection points.

Speaking at the meeting, Nguyen Duc Chung, Chairman of the Hanoi’s People’s Committee, said that some collection sources in the area was were becoming less lucrative as export-import tariff lines were cut. He demanded the sectors of treasury, taxation, finance, planning and investment of the city co-ordinate smoothly in the process of budget collection.

Chung also asked the mentioned branches to boost the application of information technology, towards digitising documents to reduce procedures for agencies and enterprises.

The chairman of the Hanoi’s People’s Committee also suggested the capital city’s State Treasury coordinate with the relevant agencies to pilot collection using scratchcards to help people, enterprises and organizations reduce time and effort when paying the State budget.

Theo VNA