Deputy Prime Minister, Minister The financial Ho Duc Phoc said so when explaining the opinions of delegates discussing in the hall about the implementation of the state budget in 2024, the state budget estimate, and the central budget allocation plan in 2025.

Many previous delegates’ opinions focused on solutions to increase budget revenue and prevent revenue loss, especially in the field of tax management for purchases and sales on e-commerce platforms.

Deputy Prime Minister Ho Duc Phoc said: “Over the past four years, we have implemented an expansionary fiscal policy of reducing taxes for people and businesses, while increasing budget spending to stimulate the economy.

However, the budget revenue in the past 4 years still exceeded the revenue by nearly 1 million billion VND. This excess revenue was used to build highways, airports, take care of social security and invest in infrastructure…

According to Mr. Phuc, to collect more than 1 million billion, both the tax and customs sectors must completely change the collection method, from manual collection to electronic collection. Therefore, there is the issuance of electronic invoices, lucky invoices, data connection for payment…

In addition, the industries also require invoices for each payment for the entire petrol system, as well as tax collection for cross-border e-commerce activities, domestic e-commerce, single-price real estate tax and other sources of revenue to achieve such results.

“Industries have also changed their views on revenue, such as the issue of income from stocks, previously after allocating shares sold, there was money to collect, now there is income and it must be collected. Increasing revenue like that but at the same time Congress, Goverment has reduced taxes by nearly 800.000 billion for people and businesses. Up to now, in the 5th year of tax reduction, these are effective fiscal policy management solutions.

Talking about preventing tax losses on e-commerce platforms, Mr. Phuc said that cross-border e-commerce platform taxes have been collected and 102 foreign suppliers (IT enterprises) have paid taxes, with an amount of over 18.600 billion VND.

“As for domestic e-commerce platforms, this year (2024) will start collecting, but in the city Ha Noi has collected 35.000 billion, and next week will launch artificial intelligence (AI) tools to control revenue and sales on e-commerce platforms,” ​​Mr. Phoc emphasized.

Speaking earlier, delegate Tran Hoang Ngan (HCMC) suggested that the Government and sectors pay attention to increasing budget revenue and preventing revenue loss in the e-commerce sector.

According to Mr. Ngan: “Recently, the Tax Administration Law has paid attention to this field and I suggest paying more attention to import tax on e-commerce products because when we collect this amount, we will increase investment in digital infrastructure, information technology infrastructure, and Internet infrastructure to make transactions more convenient.”