Customs revenue in the first four months of the year decreased by nearly 18%
Hai Phong Customs’ revenue accounts for over 18% of total customs revenue | |
Why does customs revenue plunge? | |
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 |
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 |
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.
Related News
Customs sector launches campaign against counterfeit goods and online fraud
11:03 | 29/11/2024 Customs
Exporting via e-commerce: Hesitation leads to missed opportunities
11:09 | 30/11/2024 Import-Export
CEAP - new challenges for 7 Vietnam’s export sectors
13:43 | 28/11/2024 Import-Export
Commodity group expects to hit import turnover of US$100 billion
11:07 | 29/11/2024 Import-Export
Latest News
Hai Phong Customs achieves revenue target soon
09:16 | 01/12/2024 Customs
Import and export turnover across Quang Tri Customs increases by 31.39%
11:07 | 30/11/2024 Customs
Temu not yet complete registration procedures for operation in Vietnam to implement customs process
11:03 | 29/11/2024 Customs
Significant changes ahead in the management of processing, export production, and export processing enterprises
13:47 | 28/11/2024 Customs
More News
GDVC appoints Nguyen Hong Linh as Director of Nghe An Customs Department
13:46 | 28/11/2024 Customs
Goods trading, being seen from Lang Son border gate
13:45 | 28/11/2024 Customs
Quang Binh Customs’ revenue increases thank to attracting businesses
08:52 | 26/11/2024 Customs
Binh Duong General Port Customs: Driving efficiency and trade facilitation
09:23 | 25/11/2024 Customs
Initiative to disseminate legal policies using QR codes
09:01 | 24/11/2024 Customs
Southern Customs contributed many practical contents on customs supervision and control procedures
10:50 | 23/11/2024 Customs
Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs
10:50 | 23/11/2024 Customs
New Steering Committee to spearhead Customs Reform and Modernization
10:49 | 23/11/2024 Customs
Appointment of new Directors for the Customs Reform and Modernization Board and Anti-Smuggling and Investigation Department
13:41 | 22/11/2024 Customs
Your care
Hai Phong Customs achieves revenue target soon
09:16 | 01/12/2024 Customs
Import and export turnover across Quang Tri Customs increases by 31.39%
11:07 | 30/11/2024 Customs
Customs sector launches campaign against counterfeit goods and online fraud
11:03 | 29/11/2024 Customs
Temu not yet complete registration procedures for operation in Vietnam to implement customs process
11:03 | 29/11/2024 Customs
Significant changes ahead in the management of processing, export production, and export processing enterprises
13:47 | 28/11/2024 Customs