HCMC – Vietnam’s state budget revenue in the first two months of this year hit 25.4% of its full-year target, totaling nearly VND500 trillion, according to data from the Ministry of Finance.
Tax revenue collections for the period were 25.7% higher than in the same period last year. Of the 63 provinces and centrally-run cities, 37 reported domestic revenue exceeding 20% of their 2025 targets, while 48 recorded year-on-year revenue growth, the Vietnam News Agency reported.
Tax audits and inspections led to financial adjustments totaling VND6.2 trillion. Of this amount, VND1.5 trillion was collected for the state budget, while tax deductions and loss reductions accounted for VND4.7 trillion.
Meanwhile, tax incentives, including exemptions and reductions, provided VND15.7 trillion in relief for businesses and individuals.
The Finance Ministry aims to ensure accurate tax collection while broadening the tax base. Authorities are implementing measures to meet the 2025 budget target, with tax and customs agencies enforcing revenue management strategies and launching initiatives to exceed collection goals.
The ministry is also considering tax deferrals and reductions to support taxpayers and aid economic recovery.
