Customs revenue in the first four months of the year decreased by nearly 18%

VCN – According to the General Department of Customs, the total import-export turnover in the first four months of the year decreased, leading to a year-on-year decrease of 17.98% in the customs revenue.
Hai Phong Customs’ revenue accounts for over 18% of total customs revenue Hai Phong Customs’ revenue accounts for over 18% of total customs revenue
Why does customs revenue plunge? Why does customs revenue plunge?
Hai Phong Customs: Revenue collection from automobiles increase by nearly VND 100 billion Hai Phong Customs: Revenue collection from automobiles increase by nearly VND 100 billion

In the first four months of the year, the country recorded a year-on-year decrease of 15.5% in trade to US$206.27 billion. Of which, exports fell 13.2% to US$106.93 billion and imports fell 17.9% to US$99.33 billion.

The fall in trade turnover in general has made the state budget revenue of the Customs sector difficult. Specifically, by the end of April 30, the whole sector's revenue reached VND 122,886 billion, equaling 28.91% of the assigned estimate, down 17.98% (equivalent to a decrease of VND 26,940 billion) compared to the same period in 2022.

Huu Nghi Customs officers inspect imported goods. Photo: H.Nu
Huu Nghi Customs officers inspect imported goods. Photo: H.Nu

The reason for the decrease in customs revenue is that the total taxable import-export value of the whole country in the first four months declined 18.2% year-on-year to only US$40.38 billion.

Of which, taxable import turnover reached US$38.07 billion, down 17.9% over the same period last year and taxable export turnover reached US$2.30 billion, down 22.3% over the same period last year.

In addition, a number of groups of imported goods in the past four months all showed a sharp decrease. Specifically, the group of imported raw materials, machinery and equipment, and imported spare parts for production such as coal, chemicals and chemical products, plastics, iron and steel, textile raw materials, electronic components, and auto parts dropped 29.6% over the same period to US$ 13 billion, accounting for 34% of total import turnover, reducing budget revenue by VND13,100 billion year-on-year.

Or the group of imported petroleum only reached 2.53 million tons, worth US$ 2.1 billion, down 7.1% in volume, down 19.5% in value, reducing revenue by about VND 2,600 billion.

In addition, in the first 4 months of the year, the Customs refunded import tax on auto parts according to Articles 7a and 7b of Decree 101/2021/ND-CP about nearly VND1,000 billion.

Cao Bang Customs: Revenue collection achieves impressive growth Cao Bang Customs: Revenue collection achieves impressive growth

According to data from the General Department of Customs, by the end of March 31, the whole sector has recovered and handled tax debts of VND 67.94 billion. The remaining tax debts managed by the Customs and under processing are VND 5,656.18 billion, down 3.37% compared to December 31, 2022.

By Nu Bui/ Huyen Trang

Related News

Customs sector launches campaign against counterfeit goods and online fraud

Customs sector launches campaign against counterfeit goods and online fraud

VCN - To support the “Anti-Counterfeit Goods and Online Fraud” Contest and the “Scratch Anti-Counterfeit Labels – Win Instant Prizes” Program, the General Department of Vietnam Customs has called on all departments, officers, public employees, and staff within the sector to participate in efforts to combat counterfeit goods and online fraud.
Exporting via e-commerce: Hesitation leads to missed opportunities

Exporting via e-commerce: Hesitation leads to missed opportunities

VCN - Cross-border e-commerce has emerged as a critical export channel, expanding market access for Vietnamese products. However, micro, small, and medium-sized enterprises (MSMEs) in Vietnam face numerous difficulties and challenges in accessing and adopting cross-border e-commerce.
CEAP - new challenges for 7 Vietnam’s export sectors

CEAP - new challenges for 7 Vietnam’s export sectors

VCN - With the EU Circular Economy Action Plan (CEAP), the EU aims to soon end the technology and fashion business model with products with “short life cycles” and the “waste-generating” economy in the EU.
Commodity group expects to hit import turnover of US$100 billion

Commodity group expects to hit import turnover of US$100 billion

VCN - With an average turnover of US$8.85 billion/month, it is expected that by mid-December, computers, electronic products and components will be the first imported goods group to reach the import turnover worth US$100 billion.

Latest News

Hai Phong Customs achieves revenue target soon

Hai Phong Customs achieves revenue target soon

VCN – As of Hai Phong Customs Department has gained the revenue target for the whole year of 2024.
Import and export turnover across Quang Tri Customs increases by 31.39%

Import and export turnover across Quang Tri Customs increases by 31.39%

VCN - As of November 15, the import-export turnover across border gates in the area saw a year-on-year increase of 31.39% to US$940.73 million, Quang Tri Customs Department said.
Temu  not yet complete registration procedures for operation in Vietnam to implement customs process

Temu not yet complete registration procedures for operation in Vietnam to implement customs process

VCN – After being licensed by the competent authority to operate in Vietnam as required by the law, import and export goods traded via the Temu e-commerce platform will be processed customs procedures as those of other licensed businesses.
Significant changes ahead in the management of processing, export production, and export processing enterprises

Significant changes ahead in the management of processing, export production, and export processing enterprises

VCN - The management of goods in the processing, export production (EP), and export processing enterprise (EPE) sectors will undergo significant changes in customs procedures, aiming to streamline operations and create more favorable conditions for businesses.

More News

GDVC appoints Nguyen Hong Linh as Director of Nghe An Customs Department

GDVC appoints Nguyen Hong Linh as Director of Nghe An Customs Department

VCN – The General Department of Vietnam Customs (GDVC) has appointed Nguyen Hong Linh, Director of Lang Son Customs Department as Director of Nghe An Customs Department from December 1, 2024.
Goods trading, being seen from Lang Son border gate

Goods trading, being seen from Lang Son border gate

VCN - At this time, import and export activities at the three international border gates of Huu Nghi, the bilateral border gate of Chi Ma and the secondary border gate of Tan Thanh are all very active. This is also the answer to the question of why Lang Son's import and export turnover in 2024 increased sharply.
Quang Binh Customs’ revenue increases thank to attracting businesses

Quang Binh Customs’ revenue increases thank to attracting businesses

VCN - Quang Binh Customs Department has soon completed and exceeded the state revenue target for 2024, achieving the highest revenue.
Binh Duong General Port Customs: Driving efficiency and trade facilitation

Binh Duong General Port Customs: Driving efficiency and trade facilitation

VCN - With a commitment to modernization and business support, the Binh Duong General Port Customs Branch has enhanced its operations, helping enterprises streamline customs procedures and reduce costs while fostering trade growth in the region.
Initiative to disseminate legal policies using QR codes

Initiative to disseminate legal policies using QR codes

VCN - By using a smartphone to scan the QR code created by the Lao Cai Border Gate Customs Branch (Lao Cai Customs Department), businesses can easily receive and update new legal documents related to import and export activities.
Southern Customs contributed many practical contents on customs supervision and control procedures

Southern Customs contributed many practical contents on customs supervision and control procedures

VCN - The contents related to the articles and clauses of the draft Decree amending and supplementing Decree 08/2015/ND-CP and the circulars have been specifically commented on by Southern Customs units based on practical experience.
Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs

Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs

VCN - On November 21, 2024, more than 300 enterprises from Southern Vietnam with significant import-export (I/E) volumes participated in a workshop held in Ho Chi Minh City. The event, organized by the General Department of Vietnam Customs, sought feedback on the draft decree amending and supplementing Decree No. 08/2015/ND-CP dated January 21, 2015, and the draft circular amending and supplementing Circular No. 38/2015/TT-BTC dated March 25, 2015, and Circular No. 39/2018/TT-BTC dated April 20, 2018, issued by the Minister of Finance.
New Steering Committee to spearhead Customs Reform and Modernization

New Steering Committee to spearhead Customs Reform and Modernization

VCN - The General Department of Vietnam Customs has taken a decisive step toward transforming Vietnam's customs sector with the establishment of the Customs Reform and Modernization Steering Committee. The newly formed body is tasked with crafting strategies and guiding the sector's short-, medium-, and long-term reform and modernization efforts.
Appointment of new Directors for the Customs Reform and Modernization Board and Anti-Smuggling and Investigation Department

Appointment of new Directors for the Customs Reform and Modernization Board and Anti-Smuggling and Investigation Department

VCN - On November 21, 2024, at the headquarters of the General Department of Vietnam Customs, Director General Nguyen Van Tho presided over the ceremony to announce the appointment of new leaders for the Customs Reform and Modernization Committee and the Anti-Smuggling Investigation Department.
Read More

Your care

Latest Most read
Hai Phong Customs achieves revenue target soon

Hai Phong Customs achieves revenue target soon

VCN - Specifically, from the beginning of the year to November 21, Hai Phong Customs Department collected VND67,735.3 billion, reaching 101.9% of the annual estimate, an increase of VND9,886.5 billion (equivalent to an increase of 17.1%) compared to the s
Import and export turnover across Quang Tri Customs increases by 31.39%

Import and export turnover across Quang Tri Customs increases by 31.39%

VCN - The department has processed transit procedures for 22,495 declarations, up 22.24%; worth more than US$7.1 billion, up 11.83%; and 2.66 million tons of cargo.
Customs sector launches campaign against counterfeit goods and online fraud

Customs sector launches campaign against counterfeit goods and online fraud

General Department of Vietnam Customs has called on all departments, officers, public employees, and staff within the sector to participate in efforts to combat counterfeit goods and online fraud.
Temu  not yet complete registration procedures for operation in Vietnam to implement customs process

Temu not yet complete registration procedures for operation in Vietnam to implement customs process

VCN - At the meeting, the representative of Temu Vietnam said that the company has worked with the Ministry of Industry and Trade to complete the application for providing e-commerce services in Vietnam.
Significant changes ahead in the management of processing, export production, and export processing enterprises

Significant changes ahead in the management of processing, export production, and export processing enterprises

The management of goods in the processing, export production (EP), and export processing enterprise (EPE) sectors will undergo significant changes in customs procedures
Mobile Version