Personal income tax in the first quarter of this year exceeds the whole of 2016

By the end of the first quarter, personal income tax revenue had reached more than 70,000 billion VND - Photo: NGOC PHUONG

According to statistics from the Ministry of Finance , personal income tax collection by the end of the first quarter reached 70,010 billion VND, equal to 38.8% of the estimate (180,397 billion VND).

The personal income tax revenue of the first quarter of this year has exceeded the personal income tax revenue of the whole year 2016, almost equal to the total revenue of this tax in the three years of 2009, 2010 and 2011.

Every day, people pay more than 770 billion VND in personal income tax.

Looking back over the past 10 years, personal income tax revenue has grown the most, always above double digits. For example, in 2024, personal income tax revenue reached 189,000 billion VND, an increase of 28%, equivalent to more than 41,800 billion VND compared to 2023.

In terms of policy, the Ministry of Finance is finalizing the draft Law on Personal Income Tax to collect public comments. According to the plan, the draft tax law will be submitted by the Government to the National Assembly at the October session this year and approved at the May 2026 session.

Mr. Truong Ba Tuan, Deputy Director of the Department of Tax, Fee and Charge Policy Management and Supervision (Ministry of Finance), said that the Law on Personal Income Tax will be comprehensively and fundamentally revised.

One of the important contents proposed by the Ministry of Finance to be revised is the family deduction level, the progressive tax schedule for income from wages, salaries, etc.

According to tax experts, these are policy shortcomings that have been slow to be amended. To provide suggestions to the Ministry of Finance on amending this law, agencies, ministries, localities, voters, and taxpayers nationwide proposed increasing the family deduction level and reducing the number of steps in the progressive tax schedule to reduce the burden on taxpayers with income from wages and salaries.

Revenue from housing, land, lottery, and non-state economic sectors increased sharply.

In addition to personal income tax, in the first quarter, the Ministry of Finance said that revenue from real estate and lottery also grew strongly, reaching 40% compared to the estimate. For example, revenue from lottery was estimated by the National Assembly to collect 49,297 billion VND for the whole year, but by the end of the first quarter, it had reached 20,422 billion VND.

Revenue from housing and land reached 114,504 billion VND, equal to more than 39% of the estimate. Of which, land use fee revenue reached 103,166 billion VND.

In terms of revenue from the three economic sectors, revenue from the non-state economic sector increased the most, by over 45%. Specifically, the National Assembly's approved budget for the whole year was VND370,453 billion, but by the end of the first quarter it had reached VND166,899 billion, equal to 45.1% of the annual estimate.

The Ministry of Finance said that the total budget revenue in the first quarter is estimated at VND 721,300 billion, equal to 36.7% of the estimate, up 29.3% over the same period in 2024. Of which, domestic revenue is estimated at VND 646,300 billion, equal to 38.7% of the estimate.

"Domestic revenue in the first quarter was quite good compared to the estimate and increased over the same period, mainly due to the economy growing well in the last months of 2024 and continuing to maintain growth momentum in the first months of 2025.

At the same time, the Tax authority has strengthened revenue management, reviewed revenue sources; promoted digital transformation, applied information technology in tax management and tax refunds; prevented revenue loss, handled tax arrears, urged timely collection and payment to the State budget, thereby positively affecting revenue" - the Ministry of Finance assessed.

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Source: https://tuoitre.vn/so-thue-thu-nhap-ca-nhan-quy-1-nam-nay-vuot-ca-nam-2016-2025041711404416.htm