Vietnam: Allocation and assignment of 2012 budget revenue estimates

According to Article 2 of the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, allocation and assignment of 2012 budget revenue estimates are as follows:

- Ministries, central agencies, People's Committees of provinces and central-affiliated cities deploy and assign tasks of budget collection in 2012 to subordinate units and lower-level governments to ensure a higher level of striving budget revenue estimates assigned by the Prime Minister. In addition to assigning budget revenue estimates, Ministries, central agencies, and People's Committees of provinces and central-affiliated cities assign non-business revenue collection tasks to affiliated units (if any).

- The allocation and assignment of budget revenue estimates must be based on the evaluation of 2011 budget collection results; in accordance with Law on Tax and collection regimes; economic growth rate of each industry, each field, production and business development ability of business organizations and individuals; it is required to strengthen inspection and examination, take measures to combat smuggling, tax evasion, tax evasion and commercial fraud, strengthen the urge to collect tax debts and enforce tax debts, and limit new debts timely arise and recover tax and fine amounts discovered and recorded after inspection and examination; timely collection of the corporate income tax amount extended for 2011 to the deadline for payment to the state budget.

View more details at the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2012.

Le Vy

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