Thirteen out of nineteen revenue categories surpassed 50% of the annual estimates, while 15 categories recorded year-on-year growth. Thirty-five out of the 63 provinces and centrally-run cities reported revenues of at least 50% or higher of the estimates, while 51 out of the 63 localities saw higher collections compared to the same period last year.

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Tax revenue surges 28.6% in first five months

By May 19, the country had nearly 968,000 operating businesses, up 1.99% from the end of 2024. The authorities issued nearly 6,800 value-added tax refund decisions worth over 53 trillion VND. In the same period, over 787,000 personal income tax declarations requested refunds, with about 343,000 qualifying for automatic processing.

From June 1, under Decree 70/2025, businesses and household retailers with annual revenue from 1 billion VND upward and using point-of-sale systems are required to issue e-invoices generated directly from cash registers. The tax sector is prioritizing technical upgrades and outreach efforts to support this transition, especially during June and July.

Tax collections from individual business households reached 14.37 trillion VND, up 26.4% year-on-year, with Hanoi and Ho Chi Minh City contributing over 46% of the total.

In the coming months, the tax sector aims to complete revisions to tax regulations, implement key data and digitalization projects, enhance tax inspections, and further streamline administrative procedures in line with government directives.

Source: VNA