Customs industry’s revenue increases by 7.8% in May

VCN - According to preliminary satistics, the Vietnam’s total trade in goods in May increases by 7.7% to US$ 31.9 billion month-on-month. Accordingly, the revenue of the whole Customs industry in May rose 7.8% to VND 18,906 billion compared to April.
Many businesses wish to participate in the Voluntary Compliance Program Many businesses wish to participate in the Voluntary Compliance Program
Contraband goods increases on An Giang border Contraband goods increases on An Giang border
Customs industry’s revenue increases by 7.8% in May
Officers of Ninh Binh Customs Department instruct enterprises in implementing Customs procedures. Photo: H.N

The increase in revenue results from the rising by 4.5% month-on-month of the total taxable import and export turnover across the country in May.

The taxable import turnover goes up 5.9%. Notably, the turnover of some high-value and tax rate products surges such as crude oil up 45.1%; plastic raw materials up 16%; iron and steel of all kinds up by 10.1%; machinery, equipment, tools, and spare parts up 4%; CBU cars up 24.4%.

As of May 15, total revenues at 10 local Customs departments that account for the large revenue of the whole Customs industry increase by 4.02% year-on-year to VND125,072 billion, meeting 37.78% of the estimate.

Specifically, the revenues of the most of major local Customs departments surge compared to the previous year such as Ba Ria-Vung Tau up 41.06%, Thanh Hoa up 31.81%, Quang Ninh up 25.15%...

Notably, As of April 30, the amount of tax debt managed by the Customs industry was VND5,415.31 billion, decreasing by VND140.41 billion compared to December 31, 2023. Therefore, the Customs industry recovered and processed tax debt worth VND 174 billion in the first four months of the year.

By Nu Bui/Ngoc Loan

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