Recently, the Minister of Finance signed and promulgated Circular 38/2019/TT-BTC guiding the formulation of the 2020 state budget estimate, the 03-year state financial – budget plan for 2020-2022, and the 05-year financial plan for provinces and centrally governed cities for the period of 2021-2025.
According to the regulations in Circular 38/2019/TT-BTC, when evaluating the reasons for the increase or decrease in state budget revenue in 2019, the following points need to be clarified:
- The advantages and difficulties in the production and business activities and import-export operations of enterprises and economic organizations; the capacity to implement new investment projects and expansion investments; projects that have expired tax incentives; production and consumption volumes, selling prices, and profits of major goods and services in the area; the growth rate of total retail sales of goods and consumer service revenue; market developments;- The impact of fluctuations in crude oil prices and agricultural commodity prices on the world and domestic markets; the impact of implementing international economic integration commitments, the implementation of Resolution 35-NQ/CP, Resolution 02/NQ-CP, Resolution 36a/NQ-CP, Resolution 17/NQ-CP, monetary, credit, trade, investment policies, price policies, administrative procedure reforms and other factors affecting the economy and the results of state budget revenue in the first six months of the year.
More details can be found in Circular 38/2019/TT-BTC effective from August 12, 2019.
Tue Ba
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