Business

Tax authority budget revenue exceeds 2 quadrillion VND for the first time

It is estimated that by December 31, revenue managed by tax authorities will surpass 2.24 quadrillion VND, exceeding the target assigned by the National Assembly by 30.1% and rising by 27.6% compared to 2024.

At a conference held in Hanoi on December 24 to review the tax work in 2025. (Photo: VNA)
At a conference held in Hanoi on December 24 to review the tax work in 2025. (Photo: VNA)

Hanoi (VNA) – Total revenue managed by tax authorities reached approximately 2.15 quadrillion VND (81.7 billion USD) as of December 14, exceeding the estimate by 25% and fulfilling the State budget revenue task in line with the Prime Minister’s directives.

The figures were released by the Department of Taxation at a review conference held in Hanoi on December 24.

It is estimated that by December 31, revenue managed by tax authorities will surpass 2.24 quadrillion VND, exceeding the target assigned by the National Assembly by 30.1% and rising by 27.6% compared to 2024. Of this amount, domestic revenue is estimated at over 2.19 quadrillion VND, accounting for around 98% of total revenue, exceeding the estimate by 31.4% and increasing by 29.3% year on year.

Notably, all of the 34 localities nationwide have met and exceeded their assigned State budget revenue targets. This also marks the first time that revenue managed by tax authorities has surpassed the 2 quadrillion VND threshold. Among these, Hanoi recorded 631 trillion VND, while Ho Chi Minh City collected 606 trillion VND, surpassing their estimate by 32.1% and 20.8%, respectively.

According to the Department of Taxation, total state budget revenue for the entire 2021-2025 period is estimated at more than 9.75 quadrillion VND, exceeding the target set by the legislature by 17.5%. The average mobilisation rate into the State budget reached around 18.5% of GDP, while average annual revenue growth stood at 10.8%.

In terms of local revenue structure, two localities recorded collections of over 2 quadrillion VND, namely Hanoi and HCM City; eight collected more than 200 trillion VND; and nine recorded revenues of over 100 trillion VND to 200 trillion VND.

The structure of budget revenue has continued to shift in a more sustainable direction, with the proportion of domestic revenue on the rise. During the 2011-2015 period, domestic revenue accounted for around 81% of total budget revenue. This rose to 82.1% in the 2016-2020 period and reached approximately 86% during 2021-2025. In 2025 alone, the proportion was estimated at 86.6%, up sharply from 82.3% in 2021.

Notably, this year, the tax sector also recovered 65.01 trillion VND in outstanding tax debts, an increase of 3.3% compared to 2024 and 2.6 times higher than in 2021./.


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