State revenue in first month of the year equal to 14% of the estimate

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Vietnam has made positive changes in enhancing budget transparency. Photo: ST

By the end of January 2025, total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate, up 3.5% over the same period in 2024.

Of which, domestic revenue is estimated at VND255.4 trillion, equal to 15.3% of the estimate, up 5.4% over the same period in 2024; revenue from crude oil is estimated at VND4 trillion, equal to 7.5% of the estimate, down 19% compared to the same period in 2024.

At the same time, revenue from import-export activities is estimated at VND16.5 trillion, equal to 7% of the estimate, down 15.3% compared to the same period last year.

Of domestic revenue, revenue from three production and business areas (accounting for 49.3% of the total domestic revenue estimate) reaches 18.2% of the estimate. This figure mainly results in collection of corporate income tax and value added tax of enterprises subject to quarterly tax payment arising in the fourth quarter of 2024.

However, compared to the same period last year, the revenue of these three areas decreased by 6.2%.

Revenue from dividends, profits, after-tax profits, and the State Bank's revenue-expenditure difference is estimated at VND21.6 trillion, equal to 19.2% of the estimate, up 65.3% year-on-year, mainly due to the collection of dividends and profits of the fourth quarter of 2024 in January.

In particular, revenue from houses and land is estimated at VND36.4 trillion, equal to 12.4% of the estimate, up 81.2% over the same period last year.

Of which, land use fee collection is estimated at VND32 trillion, equal to 12.6% of the estimate, up 82.8% over the same period last year because some localities have vigorously implemented the Prime Minister's Official Dispatch No. 124/CD-TTg, organized land auctions, and allocated land for projects from the end of 2024, generating revenue to the state budget at the beginning of 2025.

Some remaining revenues have recorded good collection progress, such as: personal income tax collection reaches 11.4% of the estimate; collection of fees and charges 9.6%; revenue from lottery activities 19.9% of the estimate.

Regarding budget expenditure, the total state budget expenditure in January 2025 is estimated at VND134.4 trillion, equal to 5.3% of the estimate, up 4.8% over the same period in 2024.

In particular, funds have been focused on implementing social security policies, salaries, pensions, and social allowances for beneficiaries; ensure full and timely payment of interest debts due; covered operating expenses of the State apparatus, ensuring national defense, security, social order and safety in the first month of the year and the Lunar New Year of Snake in 2025.

Regarding development investment expenditure, according to the Ministry of Finance, in January 2025, ministries, central and local agencies focused on completing documents, procedures, and capital payments for projects under the 2024 plan;

At the same time, the process of allocating and assigning detailed capital plans for 2025 to investors has resulted in low disbursement progress, estimated at 1.26% of the plan assigned by the Prime Minister, equal to 1.18% of the capital plan for 2025.

According to the Ministry of Finance, in January, the central budget and local budget were ensured. The Ministry of Finance issued nearly VND 16 trillion in government bonds with an average term of 11.28 years and an average interest rate of 2.84%/year.