Many revenues grow strongly
In February and the first two months of 2025, Vietnam's socio-economic situation will continue to maintain positive growth momentum, with a stable macro economy, inflation control and major balances ensured. However, fluctuations from the world situation such as the adjustment in economic, trade and investment relations between major powers have affected oil prices, transportation fares and global financial markets, thereby affecting the domestic economy. In that context, the Tax sector has synchronously implemented many solutions to increase state budget collection (NSNN) and reform tax management, achieving many positive results in February 2025.
Total state budget revenue in February 2025 managed by tax authorities reached VND192,360 billion, equal to 11.2% of the estimate, up 70.1% over the same period in 2024. Of which, crude oil revenue reached VND4,454 billion, equal to 8.4% of the estimate, domestic revenue reached VND187,905 billion, equal to 11.3% of the estimate, up 73.7% over the same period last year. In the first two months of 2025, total state budget revenue is estimated at VND 484,884 billion, equal to 28.2% of the estimate, up 35.1% over the same period last year.
In the collection structure, 11/19 collection items reached well over 20% of the estimate, notably the land use fee increased by VND32,800 billion, the difference between State Bank's revenue and expenditure increased by VND12,800 billion, dividends and profits increased by VND16,300 billion, land rental increased by VND2,600 billion, lottery revenue increased by VND2,400 billion. 44/63 localities have achieved revenue levels above 20% of the estimate, while 53/63 localities have revenue growth compared to the same period last year, showing a clear improvement in budget collection from the beginning of the year.
Improving tax management efficiency, preventing loss of revenue and outstanding debts
Tax inspection and examination work continues to be strongly implemented. In the first two months of the year, the Tax sector conducted 8,339 inspections and examinations, reaching 12.4% of the annual plan, an increase of 75% over the same period. The amount of money recommended for handling reached VND13,370 billion, 274% higher than the same period last year, of which the increased revenue was VND3,309 billion, the tax deduction was VND392 billion, and the loss was VND9,670 billion. Debt management and tax debt enforcement also recorded positive results when VND 17,249 billion was recovered in the first two months of the year, helping to reduce the total debt ratio on the state budget revenue estimate to 12.6%.
The refund of value-added tax is also being accelerated, ensuring compliance with regulations. In the first two months of the year, the tax authority issued 3,327 tax refund decisions, with a total refund amount of VND 25,716 billion, equal to 14.6% of the annual estimate, up 19% over the same period last year. This is a positive result in the context that businesses are in need of financial resources to expand production and business.
Promoting digital transformation, improving the quality of tax management
The Tax sector continues to promote the application of information technology in tax management, improving the quality of service for people and businesses. To date, the electronic invoice system has received and processed more than 12.75 billion invoices, including 3 billion invoices with codes, 8 billion invoices without codes, and 1.71 billion invoices generated from cash registers. Notably, the implementation of electronic invoices generated from cash registers has attracted the participation of 2,604 businesses, households and individuals in the first two months of the year, bringing the total number of users to 95,654.
The service of electronic tax registration and payment via Etax Mobile application also recorded strong growth with nearly 3 million downloads and instalments, the total transaction volume reached more than 5 million, with the amount of tax paid via the application reaching VND 10,351 billion. In the field of e-commerce, 130 foreign suppliers have registered, declared and paid taxes through the Tax Industry's Electronic Information Portal, with the estimated February revenue reaching VND 2,791 billion. At the same time, more than 33,000 business households have also registered, declared and paid taxes on the E-commerce Portal, with the amount paid being nearly 160 billion VND.
In the coming time, the Tax sector will continue to drastically implement measures to reform administration, transform digitally and streamline the apparatus. At the same time, strengthen inspection and supervision of tax declaration activities, prevent loss of revenue and prevent invoice fraud.
