State budget collection: Still many challenges

However, Dr. Nguyen Van Hien, economic expert and Vice Principal of Gia Dinh University, said that from now until the end of 2025, the task of collecting the budget will still face many challenges. Therefore, many solutions need to be implemented to complete this task.

The Tax Department has implemented many measures to complete the task of collecting state budget. In the photo : Customers transact at the Ba Dinh District Tax Department.

- How do you evaluate the state budget collection results in the first months of 2025?

- According to data released by the Ministry of Finance , state budget revenue by the end of April 15, 2025 reached VND 801.9 trillion, equivalent to 40.77% of the estimate. Previously, the total accumulated state budget revenue for the first 3 months reached VND 721.3 trillion, equivalent to 36.7% of the estimate, up 29.3% over the same period in 2024. Notably, domestic revenue reached VND 646.3 trillion, equivalent to 38.7% of the estimate, up 34.5% over the same period in 2024.

Thus, compared to the first 3 months of 2024, this year's state budget revenue is more positive. In the first quarter of 2024, budget revenue only reached 31.7% of the estimate and increased by 9.8% over the same period last year. Therefore, the above results are very encouraging in the context of the domestic and world economies still facing many difficulties and challenges.

- What factors help budget collection achieve such positive results, sir?

- The budget revenue results are quite good mainly due to the good economic growth in the last months of 2024 (GDP in the fourth quarter increased by 7.55% compared to the same period in 2023, the whole year increased by 7.09%), the first months of 2025 continued to maintain the growth momentum; at the same time, it is also necessary to acknowledge the great efforts of the tax authorities to strengthen revenue management, review revenue sources; promote digital transformation, apply information technology in tax management, tax refund; prevent revenue loss, handle tax arrears, urge timely collection and payment to the state budget, thereby positively affecting the state budget revenue.

Looking at the revenue structure, revenue from the foreign-invested enterprise sector (FDI) reached 36.2% of the estimate, up 19.9% ​​over the same period in 2024; revenue from the non-state economic sector reached 45.1% of the estimate, up 36%; revenue from the state-owned enterprise sector alone reached 28.9% of the estimate, but decreased by 7.6%, showing that the two economic sectors that contributed most to ensuring revenue in the first quarter were the domestic private economic sector and the FDI enterprise sector.

With the above structure, budget revenue from the non-state economic sector is very high, reaching 45.1% of the estimate in the first quarter, which is unprecedented. The domestic private economic sector does not export much but mainly supplies goods and services to the domestic market. The above results show that the domestic market is still a very important market for the economy. Therefore, it is necessary to focus on exploiting it to ensure both the overall growth of the economy and the budget revenue.

- According to you, from now until the end of 2025, what are the difficulties and advantages of state budget collection?

- Despite positive results in the first quarter, budget collection from now until the end of 2025 still faces difficulties and challenges. The world market is still subject to many unpredictable fluctuations, especially tariff tensions. The United States is a major export market for Vietnamese goods, and when this country imposes high taxes, it will affect export enterprises, affect the balance of import and export taxes, and directly affect state budget revenue.

In addition, the complicated and unpredictable geopolitical situation in the world will greatly affect the export market, supply chain and prices of imported materials and supplies of enterprises, especially the world oil price and inflationary pressure from the external market is still very large for the domestic economy, especially fluctuations in gold prices. Recently, gold prices have increased rapidly, and it is not known when the peak will be. The sharp increase in gold prices has put great pressure on the USD/VND exchange rate, creating inflationary pressure.

However, besides the difficulties and challenges, looking at the overall economic situation and budget revenue in the first quarter of 2025, there are some advantages and optimism. That is, if the growth momentum of budget revenue in the first quarter is good, the following quarters will be more favorable.

- In 2025, Vietnam aims for economic growth of over 8%. To complete the budget collection task, what solutions need to be implemented, sir?

- The total estimated budget revenue in 2025 is about 1,966,000 billion VND, an increase of 15.6% compared to the estimate in 2024. In the context of economic difficulties, this number is considered very large. To achieve the goal, it is necessary to implement many synchronous solutions. In particular, tax authorities must strengthen measures to strictly manage revenue sources, especially tax collection related to land and mineral resource exploitation.

Along with that, it is necessary to strengthen measures to prevent revenue loss, maximize potential revenue sources such as tax collection from personal gold trading activities, tax collection from e-commerce, online business, etc.

In particular, the tax authorities and the Finance sector need to promptly propose to the National Assembly and the Government solutions to remove sudden difficulties for businesses due to unpredictable and complicated developments of the world economy, negatively affecting the domestic economy, to both ensure support for businesses and people and nurture revenue sources.

Thank you very much!

Source: https://hanoimoi.vn/thu-ngan-sach-nha-nuoc-con-khong-it-thach-thuc-700511.html