Bắc Ninh Surpasses Annual Budget Target in Just Nine Months

How is the revenue structure shifting?

In an interview with Tiền Phong Newspaper, a representative from the Bắc Ninh Tax Department revealed that the province’s domestic revenue for the first nine months of 2025 reached 46,203 billion VND, equivalent to 100.8% of the assigned budget and 151% compared to the same period in 2024.

Of this, taxes and fees collected amounted to over 31,120 billion VND, 120% higher than the previous year; land use fees exceeded 15,000 billion VND, achieving 162% of the budget estimate and 317% compared to the same period in 2024.

The Bắc Ninh Tax Department asserts that the province’s domestic revenue structure remains sustainable. Taxes and fees account for over 67% of total domestic revenue, while land use fees make up more than 32%. This structure highlights the pivotal role of tax and fee collections in ensuring a stable, recurring revenue stream for the state budget.

Revenue from taxes and fees, constituting approximately two-thirds of domestic income, plays a critical role in balancing the budget and fostering local economic development. This sustainable revenue source, less dependent on sporadic earnings like land use fees, enhances budgetary control and ensures resources for ongoing expenditures and developmental investments.

The high proportion of tax and fee revenue also indicates stable production and business activities in the region, facilitating social welfare initiatives and infrastructure development.

Significant Growth in Key Revenue Streams

According to the Bắc Ninh Tax Department, the positive budget performance in the first nine months is attributed to several key revenue streams exceeding targets and achieving high ratios relative to estimates.

Land use fees surpassed 162% of the budget estimate, driven by a vibrant real estate market in early 2025, successful land use rights auctions, timely payments by businesses, and comprehensive infrastructure investments. Effective land clearance and attractive investment policies further boosted urbanization efforts.

Revenue from foreign-invested enterprises (FDI) reached over 12,100 billion VND, 114% higher than the same period last year. Notable contributors include Samsung Electronics Vietnam (+783 billion VND), Samsung Display Vietnam (+171 billion VND), and Goertek Vina (+245 billion VND).

Additionally, corporate income tax settlements for 2024 from companies no longer eligible for exemptions, along with robust business performance, resulted in substantial contributions. Examples include Ja Solar Vietnam (484 billion VND), New Wing Interconnect Technology (200 billion VND), and Hosiden Vietnam (185 billion VND).

Revenue from the non-state economic sector exceeded 6,600 billion VND, 119% higher year-on-year, due to delayed 2024 corporate income tax payments and earnings from real estate transactions and industrial zone infrastructure investments.

Personal income tax collected over 5,800 billion VND, achieving 112% of the budget estimate and 124% compared to the same period last year. This growth is attributed to economic expansion, increased production, and higher incomes for employees as businesses thrive.