Over 3,000 business households in Hanoi dissolved or suspended

More than 3,000 business households were dissolved or suspended their operations in Hanoi in the first two months of this year due to the impact of the COVID-19 outbreak.
An employee of the Hanoi Tax Department receives an application from a resident (Photo: VNA)

An employee of the Hanoi Tax Department receives an application from a resident (Photo: VNA)

More than 3,000 business households were dissolved or suspended their operations in Hanoi in the first two months of this year due to the impact of the COVID-19 outbreak.

Information from the Hanoi Tax Department said that over 1,080 business households were dissolved, and 2,351 households temporarily suspended operations in January and February.

Specifically, there were 13,826 business households generating invoices in January, up 3 percent over the same period last year, with turnover increasing 5 percent and tax payment up 4.9 percent.

However, there were only 4,281 business households generating invoices last month, a decrease of 57.4 percent compared to the same period last year, resulting in a decrease of 53.1 percent in turnover and 50.7 percent in tax payment.

The reduction is concentrated in the group of accommodation, food and drink and goods trading related to the Chinese market or originated from China.

Assessing the impact of COVID-19 on State budget revenues this year, the tax department said that it managed more than 169,400 taxpayers by the end of last month.

The total revenue from sales of goods and services of large enterprises and economic organisations decreased by six percent over the same period. The arising value-added tax decreased by 10.5 percent.

To overcome the impacts of COVID-19 on revenue collection, the tax department has proposed a number of solutions such as following the directions of the Government, the Prime Minister, the Ministry of Finance and the city in implementing measures to remove difficulties and support taxpayers to cope with the impact of COVID-19.

The department will also well implement administrative reform and electronic tax projects.

VNA

Other News

Vietnam accelerates innovation to boost growth, competitiveness

Vietnam accelerates innovation to boost growth, competitiveness

By 2030, Vietnam aims to rank among the world’s top 40 in the GII; raise total social investment in R&D to at least 2% of GDP, with non-State funding accounting for over 60%; increase international scientific publications by an average of 10% annually; and raise the number of patent applications and granted patents by an average of 16-18% annually.

Vietnam sees high growth prospects

Vietnam sees high growth prospects

Experts from the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences noted the quality of recent growth as the high growth rate has been recorded against an increasingly higher comparative base.

Vietnam seeks bigger share of global Halal market

Vietnam seeks bigger share of global Halal market

Vietnam's Halal exports remain modest at around 900 million USD a year, accounting for less than 1% of the global market. Most exports are still raw agricultural and seafood products. Only around 1,000–1,300 Vietnamese businesses obtained or maintained Halal certification during 2024–2026.

Hanoi sets up inter-agency mechanism to operate carbon market

Hanoi sets up inter-agency mechanism to operate carbon market

Under a decision of the municipal People’s Committee on establishing an inter-agency working group, departments and agencies are responsible for identifying facilities subject to greenhouse gas inventories, developing emissions-reduction plans and studying projects capable of generating carbon credits.

Shrimp exports reach 3.3 billion USD in eight months

Shrimp exports reach 3.3 billion USD in eight months

According to data from the Vietnam Customs cited by the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports reached 478.5 million USD in August, up 4.2% from the same month last year. The eight-month total stood at 3.3 billion USD, representing a year-on-year increase of 12%.

Russian investors explore opportunities in Vietnam's real estate market

Russian investors explore opportunities in Vietnam's real estate market

Vietnam is seen as a potential market, with considerable room for growth in real estate, particularly commercial property, compared with some regional markets. Strong Vietnam-Russia ties and opportunities to establish foreign-invested enterprises are also considered favourable for Russian investors.

Phu Quoc airport planning adjusted to serve APEC 2027

Phu Quoc airport planning adjusted to serve APEC 2027

For 2021-2030, the Civil Aviation Authority of Vietnam proposed bringing forward the investment in a parallel taxiway system and a connecting taxiway north of Runway No. 2 at Phu Quoc International Airport, in order to connect with the aircraft maintenance and repair facility (hangar) planned for the northern area of ​​the airport.

Policy, infrastructure emerge as new advantages in FDI attraction

Policy, infrastructure emerge as new advantages in FDI attraction

From policy and infrastructure to industrial real estate, Vietnam’s FDI advantages are broadening towards a more integrated production ecosystem, offering investors a stronger combination of conditions for high-value, technology-intensive and long-term projects.

Logistics upgrade vital to 1-trillion-USD trade target: experts

Logistics upgrade vital to 1-trillion-USD trade target: experts

As trade expands, systemic bottlenecks across transport networks, warehousing, ports, border gates, and industrial zones are becoming more apparent. Experts emphasise the need to shift from a fragmented, project-by-project approach toward strategic management structured around trade corridors and integrated supply chains.

Ample room for Vietnam, US to deepen cooperation

Ample room for Vietnam, US to deepen cooperation

Do Ngoc Hung, Trade Counsellor and head of the Vietnam Trade Office in the US, said what stands out is not only the growth in trade volume but also the increasingly deep economic ties between the two countries.

Flexible fiscal policy helps drive economic growth

Flexible fiscal policy helps drive economic growth

According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at 2.02 quadrillion VND (77.7 billion USD), equivalent to 80% of the annual estimate and up 16% year-on-year. Domestic revenue reached 1.75 quadrillion VND, accounting for 86.6% of total revenue and rising 16.6%.

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.