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.

Vietnam’s state budget revenue was estimated at 499.8 trillion VND in the first two months of 2025.

Notably, 37 out of the 63 localities reported domestic revenue exceeding 20% of their targets, while 48 localities recorded year-on-year revenue growth.

Enhanced tax administration, inspections, and audits resulted in financial settlements worth 6.2 trillion VND, with 1.5 trillion VND collected for the state budget. Additionally, tax reductions and loss adjustments totaled nearly 4.7 trillion VND.

Meanwhile, tax and fee exemptions and reductions provided significant relief to businesses and individuals, amounting to some 15.7 trillion VND in the first two months.

As per the National Assembly’s resolution on the 2025 state budget estimate, total revenue is projected to reach 1.97 quadrillion VND.

To meet this goal, the Ministry of Finance has directed tax and customs authorities to ramp up revenue management and strictly enforce collection measures. The sector is also implementing government policies to ensure the effective realisation of budget targets.

Looking ahead, the financial sector will continue to refine and propose policies on tax and land rent deferrals and reductions, ensuring timely and effective support for taxpayers.

MoF proposes tax and land rent payment extension for 2025

According to the MoF, this is an extension policy, not a tax exemption or reduction.

Flexible tax policy to propel Vietnam’s economic growth in 2025

In a significant move to support businesses during challenging times, the Vietnamese government has extended and enhanced various tax relief programmes for 2025, with reductions and deferral measures aimed at stimulating economic growth.

Foreign suppliers pay nearly $341M in taxes in 2024

A total of 120 foreign suppliers have registered, declared, and paid taxes worth more than VND8.68 trillion (US$340.6 million) through the General Department of Taxation’s e-portal this year.

NA approves fuel environmental tax cut for another year

The National Assembly (NA) Standing Committee has issued a resolution on Vietnam’s environmental protection tax rates for petrol, oil, and lubricants in 2025, keeping in effect a tax cut introduced to support the economy post pandemic.

Application of e-invoices generated from cash registers to improve tax administration

BAC GIANG- Launching e-invoices generated from cash registers with tax codes of tax authorities is a breakthrough in budget revenue management. This is one of the effective solutions for tax authorities to properly control transactions of retail businesses.

E-commerce platforms to declare, pay taxes on behalf of sellers from April 2025

E-commerce and digital platforms with payment functions will have to declare and pay taxes on behalf of sellers being business households and individuals from April 1, 2025.