State budget revenue rises 9.7% in Q1

Vietnam’s state budget revenue reaches 3.81 billion USD in Quarter 1. (Photo: VNA)

To meet the 2025 revenue target of 411 trillion VND, a 9.6% rise from 2024, the department has instructed regional customs offices to implement measures to boost revenue tailored to local conditions while preventing budget losses. Additionally, customs units have been urged to evaluate the impact of international trade agreements on revenue collection.

Customs authorities have also been directed to closely monitor revenue sources, stay updated on import-export trends, and propose timely solutions.

In Q1 2025, customs officials reported a spike in smuggling, trade fraud, counterfeiting, and illegal transportation of goods, particularly during the Lunar New Year holiday. With rising demand for consumer goods, food, and beverages, illicit traders escalated their activities to capitalise on the holiday market, causing price fluctuations and concerns over product quality and consumer safety.

To combat these issues, customs agencies launched a nationwide crackdown, working alongside law enforcement agencies to target smuggling, trade fraud, and counterfeit goods before, during, and after Tet.

Between December 15, 2024, and March 14, 2025, customs authorities detected and handled 3,876 violations, an 11% increase from the same period in 2024 with the estimated value of confiscated goods totaled 8.46 trillion VND. They also referred 22 cases for prosecution, contributing an additional 281.3 billion VND to the State budget./.

VNA

Source: https://en.vietnamplus.vn/state-budget-revenue-rises-97-in-q1-post312873.vnp