Nghe An: Budget revenue in 5 months reached over 8,500 billion VND

According to the report of Nghe An Provincial People's Committee: As of May 10, the disbursement rate of public investment capital managed by the province reached 23.26%, higher than the same period in 2021.

In the first 5 months of the year, socio-economic activities have flourished after the Covid-19 pandemic, positively affecting budget revenue. Tourism in the province has had positive changes; the number of visitors and vacationers has increased dramatically, especially during the holidays of April 30 - May 1, Sen Village Festival on May 19... It is estimated that in May 2022, the number of tourists will reach 1,100 thousand; tourism revenue will reach 985 billion VND. In the first 5 months, the number of tourists is estimated at 2,970 thousand, an increase of 78%; tourism revenue is estimated at 2,071 billion VND, an increase of 109% over the same period in 2021.

Investment promotion activities have also achieved good results. The province has newly granted (approved investment policies/issued investment registration certificates) to 4 projects with a total registered investment capital of 6,921.61 billion VND; of which, there are 2 social housing projects for workers and laborers working in Nam Cam Industrial Park with an investment scale of 6,457 apartments, which when put into operation will provide accommodation for about 19,750 people. Many products are stable in production and have good consumption such as milk, beer, gas, and construction materials.

Production at Tan Ky Garment Company. Photo: Tran Chau

However, the difficulty is that the prices of many goods have increased, especially iron and steel, fertilizer materials, gasoline... which has greatly affected people's production and consumption.

Result,budget revenueState budget expenditure in Nghe An province in the first 5 months is estimated at 8,523 billion VND, reaching 56.8% of the estimate, equal to 99.4% compared to the same period in 2021. Local budget expenditure in the first 5 months is estimated at 12,241 billion VND, reaching 39.4% of the estimate.

According to Mr. Nguyen Xuan Hai - Director of the Department of Finance, in order to complete the 2022 budget collection plan, the Tax sector needs to urgently review, analyze, evaluate, and forecast factors affecting budget revenue in the area, revenue reductions due to objective factors, clarify revenue losses, potential revenue sources, organize budget collection management to ensure sustainability, reasonable revenue structure, especially revenue from the production and business sector, revenue from the non-state industrial, commercial and service sectors.

In addition, it is necessary to actively transform digitally and prevent tax losses in real estate transfer and e-commerce activities. Focus all resources to deploy for organizations and individuals to complete the conversion from paper invoices to electronic invoices./.