Khammuan falls short of revenue target
Khammuan falls short of revenue target
Khammuan province collected revenue of 348 billion kip or 61.22 percent of its annual target in the first nine months of the fiscal year, a reduction of 3.95 percent compared to the same period last year, a senior finance official reported.
Provincial Finance Department Director Mr Bounleng Kounavong recently revealed that for this 2015-2016 fiscal year the department plans to collect 569 billion kip in central and local revenues, a reduction of 8.83 percent compared to the past year while expenditure would be 600 billion kip.
Department has collected more than 163 billion kip in the central revenues or 52 percent of the annual target, while 112 billion kip or 48.80 percent of the annual target was collected from customs checkpoint at the third Lao-Thai friendship bridge (Thakhek-Nakhon Phanom), some 41.9 billion kip or 60.59 percent of the annual target from Nam Phao International Border Checkpoint and another 8.7 billion kip from mobilised units.
The province has collected more than 185 billion kip in local revenues or 71.51 percent of the annual target, including more than 151 billion kip collected from tax payments, 14.2 billion kip from property supervision, 271 million kip from state enterprise supervision and another 19.2 billion kip from the customs sector.
Besides this, each district has collected 33.8 billion kip in revenues or 54.95 percent of their annual plan, Mr Bounleng said.
He said the department was unable to collect revenues as planned due to the relevant sector not compiling detailed data on new business units. There were a large number of businesses but many weren't operated regularly and this resulted in improper reporting which contributed to the shortfall.
In addition, many businesses and companies ignored paying their tax bills and under reported value-added tax.
District authorities still used old information in land fee collections and some villages didn't transfer revenue into the budget, while some officials ignored their duty in revenue collection and transfer into the budget.
Besides that, the department has faced difficulty in collecting debts from timber, sand and stone businesses related to government investment projects along with revenues from land concessions and natural resource excavation, Mr Bounleng added.
In the last three months of the fiscal year the department will focus on supervision of revenue and debt collection as well as helping district offices collect revenue according to their targets.
