Vietnam\u2019s State budget collection has reached 85% of this year\u2019s target, according to Deputy Minister of Finance Nguy\u1ec5n \u0110\u1ee9c Chi. Speaking at a press conference on September 27, he expressed confidence that the annual collection goal would be met, thereby ensuring sufficient resources for planned expenditures and maintaining reserves for unforeseen expenses.<\/p>\n
As the year progresses into its final quarter, the financial sector is expected to intensify efforts to maximize revenue. The deputy minister highlighted that any surplus generated would be allocated towards essential infrastructure projects and other significant construction initiatives.<\/p>\n
In addition to revenue collection efforts, the Ministry of Finance has submitted a draft decree to the Government proposing a reduction in land rent fees for 2024. This initiative aims to support recovery efforts following the recent impact of Typhoon Yagi. Two options are being considered for the reduction: either a 15% or 30% decrease in land lease costs.<\/p>\n
The decree targets various beneficiaries, including organizations, businesses, and individuals who lease land directly from the state, as defined by their respective contracts and certificates of land use rights. It applies specifically to lessees who do not qualify for current exemptions or reductions, as well as those whose exemptions have expired.<\/p>\n
The new reduction rates will be based on the rental fees established for this year, as specified by existing legal frameworks. This approach underscores the government\u2019s commitment to providing financial relief to affected entities while fostering economic recovery.<\/p>\n
Overall, the Ministry of Finance remains focused on ensuring fiscal stability and enhancing the financial resources necessary for Vietnam\u2019s development. The proactive measures taken in response to recent challenges are designed to bolster economic resilience and support ongoing infrastructure investment.<\/p>\n","protected":false},"excerpt":{"rendered":"
In addition to revenue collection efforts, the Ministry of Finance has submitted a draft decree to the Government proposing a reduction in land rent fees for 2024. This initiative aims to support recovery efforts following the recent impact of Typhoon Yagi. Two options are being considered for the reduction: either a 15% or 30% decrease in land lease costs.<\/p>\n","protected":false},"author":413,"featured_media":38702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[5981,12803,11820,21682,18129,22550,459,5711,22379,2393],"class_list":["post-38701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vietnam","tag-economic-recovery","tag-fiscal-policy","tag-infrastructure-investment","tag-port-infrastructure-investments","tag-state-budget","tag-tax-collection","tag-vietnam","tag-vietnamese","tag-vietnamese-economy","tag-vietnamese-market"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/38701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/users\/413"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/comments?post=38701"}],"version-history":[{"count":1,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/38701\/revisions"}],"predecessor-version":[{"id":38703,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/38701\/revisions\/38703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media\/38702"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media?parent=38701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/categories?post=38701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/tags?post=38701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}