HCMC records over 58 percent of annual budget revenue in first half of year

According to the latest report, Ho Chi Minh City collected VND294.14 trillion (US$11.2 billion) in domestic revenue during the first half of 2025, reaching 58.61 percent of the annual target.

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At the conference (Photo: SGGP)

It marked a 9.58 percent increase compared to the same period in 2024. This amount accounted for nearly 25 percent of the national total.

During the first six months, over 2,900 tax refund decisions were issued, with more than VND23.3 trillion returned to taxpayers. Of that, the tax authority automatically refunded over VND352 billion in personal income tax, representing 40 percent of all personal income tax refunds processed.

In addition, the city’s tax department brought more than 44,000 new business households under official management.

The above information was provided at a mid-year conference to review tax operations from the first six months of 2025 and outline key tasks for the second half of the year, held by the Ho Chi Minh City Tax Department on July 18.

The event was attended by Mai Xuan Thanh, Director General of the Tax Department; Deputy Director General Mai Son; and Vice Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Dung.

Speaking at the conference, Vice Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Dung acknowledged that, although the city’s budget revenue reached over 58 percent of the annual target in the first half of the year, it still lags behind the national average.

He suggested that it needs to strengthen the collection of land use and lease fees, which are considered a promising revenue source in 2025. He cited a recent example in which the city generated VND27 trillion (US$1 billion) from just one land-related project.

In addition, Mr. Dung also called for intensified efforts in recovering outstanding tax debts and recommended a review of the current model of the Anti-Revenue Loss Steering Committee. He proposed restructuring it into the Ho Chi Minh City Budget Revenue Steering Committee.

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