The fiscal policy for 2026 aims to both support businesses and individuals through tax and fee exemptions and reductions, and increase resources for development investment, accelerating public investment disbursement to enhance budget utilization efficiency, create spillover effects into the private sector, and consolidate the foundation for double-digit growth targets.
According to the Ministry of Finance, total state budget revenue for the first 8 months of 2026 is estimated to reach VND 2,023.8 trillion, equivalent to 80% of the annual estimate and a 16% increase compared to the same period. Of this, domestic revenue reached VND 1,752.9 trillion, accounting for 86.6% of total revenue and increasing by 16.6%; revenue from crude oil reached VND 43.6 trillion, exceeding the estimate by 1.5%; and balanced revenue from import-export activities reached VND 223.9 trillion, equivalent to 80.6% of the estimate and increasing by 7.9%.
The increase in revenue facilitates the implementation of expenditure tasks and the maintenance of support policies. In the first 8 months, total budget expenditure is estimated to reach VND 1,608.3 trillion, equivalent to 50.9% of the estimate and increasing by 13.3%. Notably, development investment expenditure is estimated at approximately VND 514.6 trillion, an increase of 35.4%.
The total amount of taxes, fees, and land rent exempted, reduced, and extended in the first 8 months is estimated at approximately VND 209 trillion. Notably, from July 1, 2026, Resolution 43/2026/QH16 stipulates a 30% reduction in personal income tax and corporate income tax payable in the two years 2026 - 2027 for business individuals with revenue not exceeding VND 10 billion and eligible enterprises.
In addition, the policy of reducing value-added tax by 2% continues to be implemented until the end of 2026. This helps reduce costs, increase accumulation capacity for the private sector to reinvest, and support people's purchasing power.
Economist Nguyen Minh Phong assessed that the adjustments in revenue sources and expenditure tasks in recent times have positively contributed to stimulating growth. Tax policies help businesses increase available capital, while flexible expenditure management enhances capital utilization efficiency. In the coming period, in addition to reducing cost burdens, it is necessary to promote the digitization of procedures to increase transparency and shorten decision-making processes.
Concurrently, investment capital disbursed from the state budget in the first 8 months reached approximately VND 546.8 trillion, equivalent to 50.5% of the annual plan and an increase of 18.5%. In August alone, it is estimated to reach VND 105.7 trillion, an increase of 24.1%. Although disbursement is better than the same period, the pressure in the remaining months of the year is still very significant, with over 49% of the capital plan yet to be completed.
Minister of Finance Ngo Van Tuan stated that to achieve a growth target of 10% or more, fiscal policy will focus on refining tax regulations to ensure accurate, sufficient, and timely collection, while creating maximum conditions for businesses to develop, especially small and medium-sized enterprises. Along with tax policies, accelerating public investment disbursement and addressing outstanding projects are key solutions to generate resources for growth.
Procedures
