Da Nang Customs collected over 322 billion vnd from cars

Chart 5 main sources of revenue in Da Nang Customs (Unit: billion). Graphics: T.B

According to Danang Customs Department, at the end of May, total revenues of  Department reached 1224.5 billion vnd, up 40.1% in comparison with the same period in 2015.

Of the 5 largest sources of revenue (from imports) is automobile; machinery, equipment and instruments; iron and steel; chemicals and chemical products; and petroleum.

Apart from petroleum, which continued its decline at only 20.52 billiond vnd, down 79%, the 4 other commodity groups are growing very strongly.

Specifically, revenues from automobiles reached 322.46 billion vnd, up 267%  compared to the same period; machinery, equipment and tools reached 177.92 billion vnd, up 17%; iron and steel reached 98.67 billion vnd, up 111%; chemicals and chemical products reached 50.51 billion vnd, up 16.39%.

Thus, at the end of May, Da Nang Customs Department revenue reached 55.6% of the estimate. In 2016, Da Nang Customs Department was assigned budget revenue estimates of 2.200 billion vnd, in order to reach the target in more than 7 months remaining they must gain a further 975.5 billion vnd.

With this result, Da Nang Customs Department can reach their estimate. Because, Da Nang Customs has collected nearly 245 billion vnd/month for the last 5 months. While in the last 7 months of the year, Da Nang Customs must collect an average of 140 billion vnd/month.

Although the remaining tasks are not too problematic, but according to the forecast since July 1, 2016 the Special excise duty Law amendment takes effect, tariffs on cars with large capacity increases, the main source of revenue Danang Customs from imported cars will have problems because businesses can restrict imports.

According to data from the General Department of  Customs, to June 24, 2016 this unit received 1,560 billion vnd, equivalent to nearly 71% of the estimate. At present, Da Nang Customs is one of the units with the highest estimated revenue of the estimate Customs as a whole.