Strive for a 5-7% increase in domestic revenue in 2024

Attempt to increase import and export revenue by 4-6% in 2024

According to the directive, the task of developing budget revenue estimates in 2024, including domestic revenue and financial planning - state budget in the 2024-2026 period, should concentrate on key contents.

Specifically, the State budget revenue estimate for 2024 must be made in accordance with current policies and regimes, ensuring the proper, adequate, and timely collection of state budget revenues, along with analysis and forecasting of the global and domestic economic and financial situations, to assess closely the possibility to implement state budget revenue in 2023 as well as the 2024 estimate.

The revenue estimate for 2024 must be made in accordance with current policies and regimes, ensuring the proper, adequate, and timely collection of state budget revenues.

It is essential to carefully consider the factors of increase, decrease, and displacement of revenues as a result of changes in legal policies on tax support, fees, and charges, and implement the tax remission scheme to meet international economic integration commitments. Also, it is necessary to adjust budget revenues as the Government fulfills its obligations to foreign investors.

Strive for a 5-7% increase in domestic revenue in 2024

Moreover, it is imperative to continue to drastically implement administrative reform measures, modernize revenue management; strengthen management and prevention of revenue deficit, especially against tax loss in business, and real estate transfer; effectively manage new revenue sources arising within the context of digital economic development, cross-border electronic transactions; promote tax inspection, against transfer pricing, tax evasion, tax fraud, tax debt settlement, and strict tax refund control.

The estimated domestic revenue for 2024 is expected to go up by about 5-7% in comparison to the estimated implementation assessment for 2023 (apart from the factors of revenue increase and decrease due to policy changes), excluding the revenue of land use fee, lottery, state capital sales at businesses, dividends, after-tax profits, and the State Bank of Vietnam's average revenue and expenditure difference. The growth rate in each locality is consistent with economic growth and revenue sources emerging in each area, taking into account factors such as strengthening revenue management, combating revenue deficit, and tax debt recovery.

All revenues from the reorganization and disposal of public assets (including houses and land), revenues from the lease of exploitation rights, transfers of time-limited rights to exploit infrastructure assets, and revenues from the exploitation of land and water surface funds (after deducting related expenses) must be fully estimated and paid to the State budget under the Law.

Revenues from the conversion of business ownership, public non-business units, the transfer of state capital, and the difference in equity greater than the charter capital at the business must comply with the provisions of the Government's Decree No. 148/2021/ND-CP dated December 31, 2021, on the management and use of revenues from the conversion of business ownership, public non-business units, the transfer of state capital, and the difference in equity greater than the charter capital at the business.

Implementing solutions to create a source of wage policy reform

Regarding state budget expenditure estimates, it is crucial to make the 2024 estimates to be compliance with the law; principles, criteria, and norms for allocating development investment capital, recurrent state budget expenditures approved by competent authorities; meet the requirements of budget restructuring under Politburo Resolution No. 07-NQ/TW, associated with the acceleration of organizational reorganization, downsizing staffing, and focalization.

Moreover, it is vital to continue to implement solutions to create a source of reforming salary and social insurance policies under Resolution No. 27-NQ/TW and Resolution No. 28-NQ/TW of the 7th Central Conference (Term XII); thoroughly grasp the principle of publicity, transparency, and requirements for thrift practice against waste following Resolution No. 74/2022/QH15 of the National Assembly right from the stage of determining tasks, ensuring the implementation of unified tasks from budgeting to implementing the allocation, management, and use of state budgets; develop estimates close to the feasibility to implement, minimize the cancellation of estimates and transfer the source to the next year;

Furthermore, it is necessary to actively review duplication policies and tasks, prioritizing expenditures based on urgency, importance, and possibility of implementation in 2024; only submit new policies, schemes, and tasks to competent authorities for promulgation when balancing the sources of implementation; effectively use revenue from equitization and divestment of state capital at businesses by the Law;

In particular, the development investment expenditure closely follows and concretizes the views, objectives, three strategic breakthroughs, six key tasks, twelve major groups of tasks and solutions under the Resolution of the 13th National Party Congress; investment has a focus, concentrating on priority areas, ensuring a harmonious, reasonable and effective investment structure among regions, and fields while increasing growth momentum and ensuring social security, national defense, and security.

Last but not least, it is essential to allocate sufficient capital for tasks and projects under the socio-economic rebound and development program according to the schedule approved by the competent authority; allocate enough capital to pay all basic construction debts, recover aggerate advance capital in accordance with the Law (if any); allocate enough capital for projects that have been handed over and put into use before 2024, to participate in PPP projects, investment preparation tasks, planning tasks, interest compensation tasks, management fees, charter capital for policy banks, non-budget state financial funds, capital for transitional projects in line with the schedule approved by the competent authority.