Personal income tax revenues exceed full year's target in 11M

As of late November, personal income tax revenues reached around VND170 trillion (US$7.3 billion), surpassing full year's forecast by 6.9 percent, according to the General Department of Taxation. 

In the first 11 months, the total State budget revenue reached VND1.8 quadrillion (US$71.2 billion), exceeding the forecast by 6.3 percent and marking a 16.1 per cent increase from last year.

Meanwhile, Government spending across the last 11 months was estimated to reach 73.6 percent of the forecast, reflecting a 4.7 percent increase compared to the same period in 2023.

Last year, total personal income tax valued at VND147,113 billion, making up 9 percent of total State budget revenue.

Major tax types in Viet Nam include personal income tax, corporate income tax, value-added tax, environmental protection tax, import and export duties, special consumption tax.