HCM City Taxation Department. As of December 18, 2024, the total tax collection nationwide exceeded the estimate by 16.5 per cent. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s tax sector has collected a record-high revenue of VNĐ1.7 quadrillion (US$66.7 billion) for the state budget in 2024, the General Department of Taxation reported at a conference on December 19.

Despite numerous challenges, tax authorities effectively implemented comprehensive measures throughout 2024 to enhance tax revenue management, heard the event.

The department said as of December 18, 2024, the total tax collection exceeded the estimate by 16.5 per cent. Of this, domestic revenue accounted for over VNĐ1.44 quadrillion, with 60 out of the 63 localities surpassing their revenue goals.

Driven by the directive from the Prime Minister to maximise state budget revenue to support national economic development, the sector continues its efforts to ensure robust collection in the final days of the year.

Key highlights of the sector’s performance include 19 out of 20 revenue categories surpassing their targets, and 16 categories showing growth compared to the previous year. Additionally, 61 out of 64 provincial tax departments met or exceeded their revenue targets.

In 2024, the estimated budget revenue assigned to the tax sector is more than VNĐ1.48 quadrillion, including VNĐ46 trillion from crude oil revenue and over VNĐ1.44 quadrillion from domestic revenue.

These achievements underscore the tax authorities' consistent efforts to fulfill state budget revenue goals, providing critical resources for the government to implement socio-economic policies, promote sustainable growth, and meet the objectives outlined in the 2021-2025 socio-economic development plan. These results also support preparations for the 14th National Party Congress. — VNS