Hanoi aims to exceed 2024 state budget revenue target by over 10%
Hanoi aims to exceed its 2024 state budget revenue target by over 10%, according to a directive signed by Chairman of the Hanoi People’s Committee, Tran Sy Thanh.
Hanoi aims to exceed 2024 state budget revenue target by over 10% (Photo: VNA)
Hanoi (VNA) - Hanoi aims to exceed its 2024 state budget revenue target by over 10%, according to a directive signed by Chairman of the Hanoi People’s Committee, Tran Sy Than🍃h.
Thanh required the heads of municipal departments, agencies, and district administrations to direct units at lower levels to intensify efforts to meet the city's economic, social, and budgetary goals. He emphasised the need to strengthen fiscal discipline, boost revenue, and manage spending to ensure a balanced state budget.
He specified key tasks and solutions to realise the set goals, first of all is to continue promote administrative procedure reforms, improve the business and investment environment and remove difficulties hindering production and business activities.
Accordingly, Hanoi will implement measures to simplify administrative procedures, improve the investment environment, enhance national competitiveness, and support businesses.
Efforts will be made to expand the tax base and address tax evasion, particularly in real estate and digital transactions. The city targets a 10% increase in budget revenue over the 2024 plan and a 5% rise in 2025 revenue compared to 2024 projections. At the same time, measures will also be taken to combat tax fraud, transfer pricing, and smuggling, especially in digital platforms and real estate transactions.
The city will enforce strict spending control, aiming to save 5% of regular expenses in 2024 and 10% in 2025 compared to the previous year’s estimates. Resources saved will be allocated to essential tasks such as social welfare and salary reforms besides development investment.
Efforts will be made to accelerate public investment disbursement, with a target of disbursing over 95% of allocated capital for 2024.The city’s Tax and Customs Departments are tasked with enhancing digital transformation and IT application to improve efficiency in managing tax revenues, particularly from e-commerce and foreign suppliers.
The use of electronic invoices and digital platforms will be expanded.The directive underscores Hanoi’s commitment to maintaining fiscal discipline, ensuring effective use of public resources, and supporting sustainable economic growth in the coming years./.
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