Prime Minister Phạm Minh Chính has ordered drastic measures to be taken to improve the management and governance of the state budget in the remaining months of 2025.
The total State budget revenue for the first nine months of 2025 is estimated at nearly VNĐ1.9 quadrillion (US$71.2 billion), up 27.9 per cent over the same period last year and equal to 96 per cent of the annual estimate.
Domestic tax revenue from goods and services in the first five months increased by 18.3 per cent over the same period last year. This is a fairly high increase, reflecting the positive recovery of production and business activities.
Many companies in the sector have reduced production by 20-30 per cent, leading to workforce cuts and lower incomes. Some businesses, despite having annual budgets in the billions of đồng, have been forced to close their doors.
To meet this year''s ambitious goals, the PM stressed boosting growth, stabilising the economy, controlling inflation and ensuring key economic balances.
The Ministry of Finance attributed the strong performance to solid economic growth in 2024, which drove up corporate income tax and value-added tax collections.
Việt Nam’s tax sector has collected a record-high revenue of VNĐ1.7 quadrillion (US$66.7 billion) for the state budget in 2024, the General Department of Taxation reported at a conference on December 19.
Notable among this group were several of Việt Nam''s prominent retailers, including Masan Group, DOJI, Phú Nhuận Jewelry (PNJ) and Mobile World Investment Corporation.
State budget revenue was estimated at VNĐ1.18 quadrillion (US$46.7 billion) in seven months, or 68.9 per cent of the annual target, up 14.6 per year-on-year.
More than VNĐ1 quadrillion (US$40.9 billion) was collected for the State budget in the first half of 2024, equivalent to 61 per cent of this year’s target and up 17.7 per cent from a year earlier, reported the Ministry of Finance (MoF).
Total state budget revenue from import-export activities reached almost VNĐ165.7 trillion (nearly US$6.63 billion) in the first five months of 2024, equivalent to 44.2 per cent of the assigned estimate and marking 7.4 per cent growth compared to the same...
Total State budget collection in the first four months of this year was estimated at VNĐ640.29 trillion (US$25.20 billion), equivalent to 43 per cent of the yearly projection, representing a year-on-year rise of 10.7 per cent, according to the General...