At the end of 2024, Hanoi and Ho Chi Minh City were the two localities with the highest budget revenue in the country and both exceeded the 500,000 billion VND mark.
According to Mr. Vu Manh Cuong - Deputy General Director of the General Department of Taxation - Hanoi Tax Department, to achieve such high revenue results, in 2024, Hanoi Tax Department focused on removing difficulties and obstacles for businesses, implementing timely extensions and exemptions, helping businesses have cash flow and expand production and business activities. Thereby, in 2024, nearly 150,000 businesses and taxpayers were exempted, reduced, and extended 7 types of taxes and 36 types of fees with an amount of 53,000 billion VND. This is truly a valuable resource, contributing to nurturing revenue sources.
The efforts of the business community and innovations in tax management have brought about a sustainable revenue structure. Also in 2024, revenue from e-commerce reached nearly VND 38,900 billion for the first time (an increase of 34% compared to 2023).
Talking to reporters of Lao Dong Newspaper, financial expert, Associate Professor, Dr. Dinh Trong Thinh said that for the first time, Hanoi's budget revenue reached over 500,000 billion VND; being the leading locality in the country in terms of innovation index; and being one of the leading localities in attracting FDI capital, accelerating the development of semiconductor industry, chip production... are all good signs.
“Hanoi needs to continue to promote investment environment reform, digitize economic management activities, simplify administrative procedures, connect data between agencies and localities with Hanoi to create the most favorable conditions for the investment attraction process for economic growth and development,” said Associate Professor, Dr. Dinh Trong Thinh.
