Hanoi Customs: revenue of some key items reduced by 17%

Professional activities at Noi Bai International Airport Customs Branch. Photo: N.Linh

In particular, the items with a sharp decrease including automobiles (complete units, components and spare parts) was 787 billion VND, achieved 71% over the same period; telephone, computer and electronic components earned 526 billion VND, reaching 61%; iron, steel and products reached 70 billion VND, reaching 74%; food and milk 33 billion VND, reaching 63%; ingredients for feedstuff production achieved 7 billion VND, reaching 35%.

Some commodity groups with increasing revenue over the same period in 2017 include: Motorcycles (complete units, components and spare parts); machinery, equipment, tools, spare parts; clothing and fashion accessories; Housewares; Plastics, consumer goods. Those groups increased by over 1% to nearly 50%; In particular, chemical products have increased sharply over the same period, up 226%.

Assessing the results of the first months of the year and the overall situation in 2018, the Hanoi Customs Department said that according to the roadmap of tariff reduction of the free trade agreements that Vietnam has signed; many goods lines are cut leading to reduced import tariff.

Specifically from 1/1/2018, the implementation of the ASEAN Trade in Goods Agreement (ATIGA) caused more than 90% of import tariffs reducing to 0%, in that, some items have large revenue, and high tax rates such as: cars decreased from 30% to 0%; spare parts reduced from 20% to 0%, steel fell from 5% to 0%...

The implementation of the ASEAN-China Free Trade Agreement (ACFTA), the ASEAN-Korea Free Trade Agreement (AKFTA) also included more than 400 commodities with tariff rates ranging from 5%, 7%, 10% to 0%...

Besides that, the impact of automobile import policy in Decree 116/2017 / ND-CP also led to a sharp decline in imports and causing a reduction in the number of cars.

In addition, the reduction of revenue collection of the Hanoi Customs Department is affected by Decree 125/2015 / ND-CP, some enterprises importing automobile parts will enjoy a tax refund from Quarter 3/2018.

According to preliminary statistics, as of 26/4, state revenue of the Hanoi Customs Department reached over 6,000 billion VND, achieving 25.52% of the assigned target.