PM requests prompt action to collect revenues for State budget

Prime Minister Nguyen Xuan Phuc asked the Finance Ministry to take prompt measures to collect revenues for the State budget right from the beginning of the year at the ministry's teleconference in Hanoi on Friday.

The Prime Minister said it will be difficult tasks to achieve the goals of 6.7 percent economic growth, overspending below 3.5 percent of GDP and 4 percent inflation asking the Ministry of Finance to exert greater efforts. Prime Minister Nguyen Xuan Phuc said: In 2017, the Ministry of Finance needs to well manage fiscal tools to stabilise the macro-economy while making breakthrough reforms in budget management to reduce overspending, control public debt, ensure solvency, and contribute to achieve the set growth target.

The PM directed the Ministry to closely monitor tax declarations as well as cases of trade fraud and transfer pricing to prevent tax evasion while continuing to exempt and cut agricultural taxes, review existing preferential taxes. He asked the ministry to crack down on wastefulness and scale down expenditures for conferences and procurement of expensive assets adding that personal responsibility for causing budget losses must be clarified and violations must be strictly punished, thereby strengthening public trust in the Party and State.

Source: VOV5