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 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 improved 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 arrivals; tourism revenue will reach VND 985 billion. In the first 5 months, the number of tourists is estimated at 2,970 thousand arrivals, an increase of 78%; tourism revenue is estimated at VND 2,071 billion, 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 policy/issued Investment Registration Certificate) 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 produced stably and consumed quite well 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% over 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 convert to digital, prevent tax losses in real estate transfer and e-commerce business activities. Focus all resources to deploy for organizations and individuals to complete the conversion from paper invoices to electronic invoices./.