Budget revenue for the 2021-2025 period always exceeds estimates:

This result contributes significantly to ensuring budget revenue and expenditure balance, creating solid resources for development investment and implementing sustainable growth goals.

Taxpayers transact at Tax Base 4 of Hanoi city. *Photo: Do Tam*

Revenue for the 2021-2025 period is 1.8 times higher than that for the 2016-2020 period.

Budget collection is one of the key tasks, playing a key role in ensuring the balance of resources for development investment and economic growth. In the period of 2021-2025, the budget revenue of Hanoi capital always exceeds the estimate, estimated at about 2.2 million billion VND, 1.8 times higher than the period of 2016-2020, accounting for about 25% of the total budget revenue of the whole country.

Notably, according to Hanoi City Statistics, in the first 9 months of 2025 alone, the total state budget revenue in the area is estimated to reach 499.9 trillion VND, equal to 97.3% of the annual estimate and an increase of 32.5% over the same period in 2024, showing strong and sustainable growth momentum of the capital's budget revenue.

According to information from Hanoi City Tax - the key unit in budget collection, in the period of 2021-2024, the Capital Tax sector collected budget revenue with an average growth rate of 16%/year. Notably, in 2024, the Tax sector collected budget revenue of 482 trillion VND, marking an important turning point, contributing to bringing the city's total state budget revenue to exceed 500 trillion VND for the first time.

Deputy Director of the Tax Department and Head of Hanoi Taxation Vu Manh Cuong said: “The revenue structure has shifted positively towards sustainability. The proportion of revenue from production, business, trade and service sectors has increased gradually over the years, gradually reducing the dependence of state budget revenue on revenue from natural resources and land.”

In terms of revenue structure of the production and business sector, the 2021-2024 period recorded a clear shift among the three economic sectors - state economy, private economy and foreign-invested economy, compared to the 2017-2020 period.

In particular, the private economic sector has made a strong breakthrough, with an average growth rate of over 17%/year, thereby rising to play a pivotal role in contributing to the state budget. The contribution rate of this sector increased from 38% in the 2017-2020 period to 45% of the total revenue of the production and business sector in the 2021-2024 period. The state economic sector has an average growth rate of about 9%/year, causing the contribution rate to decrease from 43% to 38% of the total revenue of the production and business sector, moving from the leading position to the second position. The economic sector with foreign investment capital achieved an average growth rate of 12%/year, contributing about 17% of the total revenue from production and business, a slight decrease compared to the 19% level in the 2017-2020 period.

It can be seen that the budget revenue exceeding the plan has contributed significantly to ensuring the balance of revenue and expenditure and increasing the city's development investment resources. The total social investment capital implemented in the 2021-2025 period is estimated at 2.48 million billion VND, 1.5 times higher than the previous term.

Results from the synchronous implementation of solutions

Economist Nguyen Minh Phong assessed that the budget revenue in Hanoi in the 2021-2025 period has grown remarkably thanks to the drastic and synchronous direction of the City Party Committee, People's Council, and People's Committee, along with the efforts of budget collection agencies and positive contributions from the business community. In addition, the city has promoted administrative procedure reform associated with digital transformation, strengthened management of e-commerce activities, digital and cross-border business; synchronously deployed electronic tax declaration, payment, and settlement, electronic invoices and eTax Mobile application. These solutions have both facilitated taxpayers to fulfill their obligations and improved transparency, publicity and efficiency in tax management.

Regarding the deployment of the eTax Mobile application, in the recent campaign "45 days and nights of supporting digital transformation activities in communes and wards in the initial phase of operating the 2-level local government model", Hanoi tax officials have shown a high sense of responsibility, ready to work from 5:00 p.m. to 9:00 p.m. every day, including Saturdays and Sundays, to directly guide and install the eTax Mobile application for each citizen.

Along with that, implementing the Campaign "90 days to get rich, clean up land database" (ending on November 30, 2025), Hanoi Tax officials continue to actively participate through reviewing and checking land data, while guiding people to declare and pay taxes online, ensuring that everyone can fully and conveniently fulfill their tax obligations.

The Capital Tax Department has proactively implemented many solutions to support and remove difficulties for businesses and business households in order to restore production, maintain jobs and nurture sustainable revenue sources. In particular, during the complicated period of the Covid-19 epidemic, which strongly affected the operations of businesses and business households, the Hanoi Tax Department (now Hanoi City Tax) promptly implemented a series of practical support measures.

Immediately after Decree No. 52/2021/ND-CP of the Government on extending the deadline for payment of value added tax, corporate income tax, personal income tax and land rent in 2021 was issued, the unit proactively propagated and guided taxpayers through videos , articles, social networks, emails and other online channels to receive and quickly process extension requests.

By the end of August 2021 alone, the tax authority had extended the payment deadline for 29,744 taxpayers, with the total amount of tax and land rent extended reaching VND 21,335.3 billion. At the same time, Hanoi City Tax continues to flexibly and flexibly implement solutions to both urge debt collection and remove difficulties for businesses, contributing to stabilizing revenue sources and promoting economic recovery after the pandemic.

Director of Phuc Thai Industrial Machinery and Equipment Joint Stock Company Bui Ngoc Than shared: “Digital transformation in the tax sector has made remarkable progress. Performing administrative procedures online helps businesses save time and costs, and at the same time makes it more convenient to fulfill obligations to the state budget. In addition, policies to support businesses and people to overcome difficulties caused by the epidemic have also brought positive impacts, strengthening businesses' confidence in the capital's business environment.”

In particular, in 2024, the General Department of Taxation (now the Tax Department) in coordination with the Hanoi People's Committee launched a Virtual Assistant to support taxpayers, piloted at the Hanoi Tax Department. This is one of the first application subsystems in the overall project of applying artificial intelligence (AI) in tax management. Thanks to this application, people and businesses can interact with the Virtual Assistant 24/7 right on the Tax sector's electronic information portal, eTax Mobile application and iHanoi application, thereby saving time, improving transparency and service efficiency.

Notably, the Hanoi Tax Department has improved tax management for business households and individuals through a centralized data system, aiming to fully cover all subjects and gradually increase the proportion of state budget contributions of this sector, in accordance with the scale and actual level of development. Especially from 2026, business households will switch from the form of lump-sum tax payment to the regime of self-calculation, self-declaration, and self-payment of taxes by electronic means, marking an important transition in the modernization of tax management.

In addition, Hanoi City Tax also promotes tax management for e-commerce activities, collects information from organizations in the digital ecosystem (transport units, commercial banks, payment intermediaries, etc.) to build a common database of the Tax sector, thereby strengthening supervision, inspection and urging tax collection for individuals doing business online...

Recently, Hanoi City Tax organized a Conference to sign the Regulations on coordination and implementation of a number of key tasks in tax management between the tax agency and the People's Committees of communes and wards in Hanoi. This is an important activity to concretize the direction of Hanoi City People's Committee on improving the effectiveness and efficiency of state management in the field of tax, while promoting the role and responsibility of grassroots authorities in state budget collection, in accordance with the 2-level local government model.

The coordination regulations between the tax authorities and the People's Committees of communes and wards were signed to enhance information exchange and sharing; coordination in managing households and individuals doing business, collecting tax debts, managing financial obligations on land; as well as preventing and combating tax losses and fraud. This is not only an administrative document but also a commitment to responsibility, companionship and common goals between the two parties, contributing to building a modern, transparent and effective tax management system.

The above results and solutions not only affirm the efforts to innovate and modernize budget collection work but also open up prospects for positive and sustainable growth for the capital's economy in the coming period.

Source: https://hanoimoi.vn/thu-ngan-sach-giai-doan-2021-2025-luon-vuot-du-toan-dau-an-noi-bat-trong-phat-trien-kinh-te-thu-do-719791.html