Ho Chi Minh City Tax Revenue Surpasses VND 466 Trillion, Digitalization Accelerates Towards Annual Target

Ho Chi Minh City's tax department has recorded tax revenue exceeding VND 466 trillion (approximately USD 18.3 billion) in the first seven months of this year, indicating progress that surpasses its annual plan. This robust tax collection suggests the city is strengthening its fiscal foundation while maintaining economic growth. To achieve its annual targets, the city's tax department is vigorously promoting digital transformation (DX). Specifically, it has launched an AI-powered call center to efficiently handle taxpayer inquiries. Furthermore, it has introduced a service to provide tax information via digital payment platforms, enhancing convenience for taxpayers. Under Vietnam's one-party system, economic policies are directed by the central government and implemented by local authorities in coordination. In economic hubs like Ho Chi Minh City, securing tax revenue is directly linked to the stability of local finances, providing funds for public services and infrastructure development. The promotion of digitalization can lead to improved administrative efficiency, as well as enhanced transparency and corruption prevention. The tax department is also focusing on dialogue with businesses, particularly foreign-invested enterprises (FDI), by holding sessions to support their tax compliance. This aims to facilitate their smooth business operations and reflects Vietnam's proactive approach to attracting foreign investment as a driver of economic growth. Additionally, campaigns are being conducted to strengthen tax compliance among individual business owners and small businesses, aiming to raise awareness and ensure equitable tax burdens. These initiatives demonstrate Ho Chi Minh City's commitment to balancing economic development with the improvement of administrative services.