Outstanding achievements of the tax sector in 2024

• Exceeding revenue targets: The tax sector has exceeded the state budget revenue target, reaching an impressive figure of 1,732,000 billion VND.
• Popularizing electronic invoices: The implementation of electronic invoices has achieved many successes, contributing to strengthening tax management and transparency in business activities.
• Digital transformation: The tax sector has actively applied information technology to management activities, facilitating taxpayers.
• Effective coordination: The tax sector has closely coordinated with other agencies to combat tax evasion and protect the state budget.

Challenges and solutions

However, the tax sector still faces many challenges such as:

• Global economic fluctuations: Factors such as price fluctuations, interest rates, and exchange rates affect production and business activities and the ability of enterprises to pay taxes.
• Tax evasion: Tax evasion and illegal invoice trading still occur.
• Demand for innovation: The tax sector needs to constantly innovate to adapt to the development of the digital economy.

To address these challenges, the Minister of Finance has proposed a number of solutions such as:

• Improving the tax legal system: Updating, supplementing, and perfecting the tax legal system to suit the practical situation and international standards.
• Strengthening inspection and audit work: Focusing on high-risk areas, detecting and severely handling violations of tax law.
• Promoting digital transformation: Applying information technology to all stages of tax management, facilitating taxpayers and improving work efficiency.
• Closely cooperating with other agencies: Strengthening cooperation with law enforcement and customs agencies to combat tax evasion and protect the state budget.

Looking to the future

In the coming time, the tax sector will continue to focus on the following tasks:

• Exceeding the state budget revenue plan for 2025.
• Promoting administrative procedure reform, creating favorable conditions for taxpayers.
• Improving the capacity of officials and civil servants.
• Building a professional and efficient working environment.

Conclusion

With the achievements achieved and the orientations for the future, Vietnam’s tax sector is increasingly affirming its important role in stabilizing the macroeconomy and ensuring revenue for the state budget.