Việt Nam News

Nearly 1,500 household businesses converted into enterprises in six months

July 13, 2025 - 17:21

The tax authority is piloting the use of digital identity accounts for organisations to access e-tax services, with a nationwide rollout expected before July 2025.

A shop issues e-invoices generated directly from its point-of-sale system. — VNA/VNS Photo Lê Đông

HÀ NỘI — Nearly 1,500 household businesses officially transitioned into registered enterprises in the first half of 2025, with 910 making the switch in June alone, accounting for almost two-thirds of the total.

This information was revealed by Director of the Ministry of Finance's Department of Taxation (formerly the General Department of Taxation) Mai Xuân Thành at a meeting on Wednesday.

The trend reflects growing momentum as Việt Nam pushes for private sector formalisation under Resolution 68-NQ/TW issued on May 4, 2025. Resolution 68 aims to boost Việt Nam’s private sector as a key pillar of the national economy.

As of June 30, over 47,000 household businesses had registered for e-invoices – surpassing the target by 125 per cent.

According to Decree 70, only 37,000 were expected by March 2025, but actual adoption exceeded projections by a wide margin.

In terms of e-commerce tax revenue, the Government collected VNĐ98 trillion (US$3.8 billion), marking a 58 per cent increase year-on-year. Tax debt management also improved, with total outstanding tax debt falling by 4.6 per cent compared to the end of 2024, and tax collections reaching over VNĐ43.1 trillion.

Administrative reforms in the tax sector are gaining pace, with plans to reduce procedures by more than 44 per cent, processing time by 40 per cent, and compliance costs by 45 per cent.

The Department of Taxation has also dispatched field teams to directly observe citizen interactions at tax offices to better understand barriers and expectations.

Under Project 06, 95 per cent of tax identification numbers have been standardised and synchronised with the national population database. The tax authority has also rolled out digital identity accounts for organisations to access e-tax services starting July 1.

According to Thành, the integration of technology and data is essential for streamlining procedures and improving transparency. A unified national database helps reduce paperwork, saves time and improves efficiency for both Government agencies and citizens.

Authorities are now looking ahead to revising the Law on Tax Administration to ensure fair, convenient and transparent tax policies for all business models, especially household businesses. — VNS

Tags tax collection household business e-invoice taxation

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