HÀ NỘI BUDGET REVENUE REACHES $20 BILLION IN FIRST EIGHT MONTHS

Domestic revenue remained the largest contributor, reaching VNĐ487.4 trillion, or 79.9 per cent of the annual target, up 7.5 per cent year-on-year.

At an office of the Hanoi State Treasury. — VNA/VNS Photo

HÀ NỘI — Hà Nội's State budget revenue reached an estimated VNĐ521.3 trillion (US$20 billion) in the first eight months of 2026, completing more than 80 per cent of the full-year target, supported by strong contributions from private and foreign-invested enterprises.

According to the Hanoi Statistics Office, total State budget revenue collected in the capital by the end of August was equivalent to 80.2 per cent of the annual estimate and up 8.9 per cent from the same period in 2025.

Domestic revenue remained the largest contributor, reaching VNĐ487.4 trillion, or 79.9 per cent of the annual target, up 7.5 per cent year-on-year.

Revenue from import-export activities grew more strongly, rising 32.9 per cent to VNĐ30.7 trillion and fulfilling 83.9 per cent of the year's estimate. Revenue from crude oil approached VNĐ2.12 trillion, equivalent to 60.6 per cent of the target and up 18.2 per cent.

Within domestic revenue, the non-State business sector recorded the largest contribution among major categories, generating more than VNĐ129.9 trillion. The figure represented 91.2 per cent of the annual estimate and an increase of 34.2 per cent compared with the first eight months of last year.

Revenue from State-owned enterprises reached nearly VNĐ60.8 trillion, fulfilling 72.8 per cent of the target and rising 8.9 per cent year-on-year.

Foreign-invested enterprises also recorded strong growth, contributing nearly VNĐ32.6 trillion, equivalent to 77.2 per cent of the annual estimate and up 39.3 per cent from a year earlier.

However, several major revenue sources remained below their levels in the same period last year.

Personal income tax revenue declined 2.5 per cent to nearly VNĐ42.34 trillion, fulfilling 60.9 per cent of the annual estimate.

Land-use fee revenue exceeded VNĐ69.3 trillion, or 83.7 per cent of the year's target, but fell 13.3 per cent year-on-year. Registration fee revenue declined 1.7 per cent to more than VNĐ5.31 trillion.

Revenue from leasing land and water surfaces dropped 15.6 per cent to more than VNĐ10.6 trillion. Environmental protection tax revenue fell 45 per cent to VNĐ1.16 trillion, reaching just 32.1 per cent of the annual estimate.

Dividends and post-tax profits contributed more than VNĐ46.5 trillion, equivalent to 88.3 per cent of the target, although the amount was 6.6 per cent lower than in the corresponding period of 2025.

On the expenditure side, Hà Nội's local budget spending accelerated sharply during the first eight months.

Total expenditure was estimated at more than VNĐ138.9 trillion, equivalent to 49.4 per cent of the annual estimate and up 70.3 per cent year-on-year.

For the remainder of 2026, Hà Nội plans to closely monitor revenue collection across individual areas, economic sectors and tax categories as it works towards its full-year fiscal targets.

The city will strengthen revenue administration for e-commerce, businesses operating on digital platforms and emerging economic activities that generate new sources of tax revenue.

Authorities will also focus on collecting outstanding tax debts and preventing revenue losses, transfer pricing and trade fraud, while addressing obstacles facing production and business activities to maintain stable and sustainable sources of budget revenue. — BIZHUB/VNS

Source: VNS