Tax sector fulfills nearly 85 percent of State budget collection estimate

Speaking at a press conference on September 27, the deputy minister said this year’s State budget collection target will be fulfilled, ensuring resources for assigned spending tasks and having reserves to serve unexpected expenditures.

Deputy Minister of Finance Nguyễn Đức Chi speaks at the press conference. — VNA/VNS Photo

In the last quarter of this year, the financial sector will continue to carry out its assigned tasks to achieve the highest revenue level, he said, adding that the surplus will be used to meet the needs of investment in infrastructure development and important construction projects.

The official also said that the Ministry of Finance has just completed and submitted to the Government for approval a draft decree regarding the reduction of land rent fees in 2024 to support recovery efforts following Typhoon Yagi. Accordingly, there are two options: a 15 per cent or 30 per cent reduction in land lease.

The beneficiary entities include organisations, units, businesses, households, and individuals who are directly leased land by the state according to decisions, contracts or certificates of land use rights and of ownership rights to residential houses and other assets attached to land.

The decree applies to cases where the lessees are not entitled to enjoy exempted or reduced rental fees, those whose exemptions or reductions have expired, and those currently receiving reductions in rental fees following the Land Law and other relevant laws. The new reduction levels will be calculated based on the rental fees payable for this year as stipulated by the law.