Hanoi city’s 11-month state budget revenue tops 17.6 billion USD
Hanoi’s total state budget revenue from January-November reached 447.2 trillion VND (17.6 billion USD), surpassing the yearly estimate by 9.5% and marking an 18.3% year-on-year increase, according to the municipal People’s Committee.
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| Customers make transactions at Vietcombank's branch in Vinh Phuc province. (Source: VNA) |
Of this total, domestic revenue was 416.6 trillion VND, equal to 110.1% of the estimate for the whole year and reflecting an 18.5% increase compared to the same period last year. Revenue from crude oil amounted to 3.8 trillion VND, exceeding the plan by 26.6% and equal to 92.2% of the figure in the same period last year. Additionally, revenue from trade-related activities was 26.5 trillion VND, fulfilling 98.1% of the yearly target and growing 20.8% year-on-year.
On the expenditure side, the city spent 90 trillion VND in the first eleven months, equivalent to 61.5% of the annual estimate and representing a 21.2% year-on-year increase. This included 43.1 trillion VND allocated for development investments. Regular expenditures totaled 46.9 trillion VND, or 81.9% of the estimate, rising 14.8% year-on-year.
The municipal People’s Committee attributed the strong budget performance to the adoption of timely measures and concerted efforts across all administrative levels. Progress in administrative management and reform has made tax collection and payment more convenient for tax authorities, businesses, and citizens.
Leaders from the Hanoi Tax Department emphasised ongoing efforts to review revenue sources and identify businesses and households which have not yet fulfilled their tax obligations. Key priorities include resolving tax arrears, enforcing tax collection against deliberate evasion, and intensifying inspections and audits at businesses showing signs of violations or incomplete tax declarations.
The tax sector is also actively enhancing public communication to raise awareness about tax compliance among citizens and businesses.
(Source: VNA)
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