Domestic revenue in the first quarter reached 38.7% of the projected target.

(PLVN) - In the first quarter, total state budget revenue reached VND 721.3 trillion, equivalent to 36.7% of the projected figure, an increase of 29.3% compared to the same period in 2024 (central government revenue reached 35% of the projected figure; local government revenue reached 38.4% of the projected figure).

According to a report from the Ministry of Finance , in the first quarter of 2025, against the backdrop of still challenging economic conditions, the Ministry of Finance advised the Government to implement solutions to support tax, fee, and levy reductions right from the beginning of the year.

Specifically, a 2% reduction in VAT was implemented for goods and services currently subject to a 10% tax rate during the first six months of the year (a reduction of approximately VND 26.1 trillion); the environmental protection tax on gasoline, diesel, and lubricants was further reduced (a reduction of approximately VND 44 trillion); and import and export tax policies were adjusted, extending tax incentives for the automotive supporting industry until the end of 2027.

In addition, the reduction in fees and charges for online public services will be maintained at 10% to 50% until the end of 2025, and preferential registration fees will be offered for battery-powered electric vehicles (with a support of 2.4 trillion VND).

For solutions that have been and are being implemented, the total amount of support for businesses and people in 2025 is expected to reach approximately 204 trillion VND, higher than the support level in 2024, in order to promote economic recovery and development.

Also in the first quarter, total state budget revenue reached VND 721.3 trillion, equivalent to 36.7% of the projected figure, an increase of 29.3% compared to the same period in 2024 (central government revenue reached 35% of the projected figure; local government revenue reached 38.4% of the projected figure).

Of this, domestic revenue reached VND 646.3 trillion, equivalent to 38.7% of the projected figure, an increase of 34.5% compared to the same period in 2024. Excluding revenue from land use fees, lottery revenue, capital recovery, dividends, profits, after-tax profits, and the difference between revenue and expenditure of the State Bank of Vietnam, domestic tax and fee revenue reached 35.8% of the projected figure, an increase of 21.1% compared to the same period.

According to the Ministry of Finance, the domestic revenue collection results in the first quarter were quite good compared to the forecast and increased compared to the same period last year, mainly due to the relatively strong economic growth in the last months of 2024 (GDP in the fourth quarter increased by 7.55% compared to the same period in 2024, and the whole year increased by 7.09%), and the continued growth momentum in the first months of 2025;

At the same time, the Tax Authority has strengthened revenue management, reviewed revenue sources; promoted digital transformation and the application of information technology in tax management and tax refunds; combated revenue losses, handled tax arrears, and urged timely collection and payment into the state budget, thereby positively impacting state budget revenue.

Regarding revenue collection from the three economic sectors (accounting for approximately 49.3% of the domestic revenue forecast), in the first quarter, revenue reached VND 317.1 trillion, equivalent to 38.5% of the forecast, an increase of 20.4% compared to the same period in 2024. Specifically, revenue from the foreign-invested enterprise sector reached 36.2% of the forecast, an increase of 19.9% ​​compared to the same period in 2024; revenue from the non-state economic sector reached 45.1% of the forecast, an increase of 36% compared to the same period in 2024; while revenue from the state-owned enterprise sector reached 28.9% of the forecast, but decreased by 7.6% compared to the same period in 2024.

According to updated revenue figures on the TABMIS system, state budget revenue up to April 15, 2025, reached VND 801.9 trillion, equivalent to 40.77% of the projected target; of which central government revenue reached VND 407.2 trillion, reaching 39.9% of the projected target, and local government revenue reached VND 394.7 trillion, reaching 41.7% of the projected target.

Hoang Tu

Source: https://baophapluat.vn/thu-noi-dia-quy-i-dat-387-du-toan-post546064.html