A leap in tax administrationA notable trend in 2025 was the revenue concentration in Hanoi and Ho Chi Minh City. Photo: Hoang HaA large portion of the revenue surplus in 2025 stems from improved tax management and a broader tax base. Tax revenue from e-commerce, the digital economy, and cross-border services is emerging from the shadows. Real estate: The biggest, most volatile contributorAmong the drivers of the 2025 revenue boom, real estate stands out as both the biggest contributor and the most cyclical. Twin economic engines, rising concentration riskAnother key takeaway from 2025 is the regional concentration of tax revenue.

Source: VietNamNet News December 31, 2025 01:10 UTC