HCM City Customs: Decrease in revenue by 13,000 billion VND in 10 months

Automobiles imported via HCM City decreased in revenue collection by 13,000 billion VND. Photo: T.H

According to HCM City Customs Department, in 10/2018, HCM City Customs Department reached 10,381 billion VND, increased by 20% over the last month and increased by 21.5% over the same period last year.

Thus, from the beginning of the year to the end of 31/10/2018, HCM City Customs Department collected revenue of 86,363 billion VND, achieved 80% of ordinance appropriation, achieved 99.0% compared to the same period in 2017 (achieved by 87,219 billion VND).

According to the analysis of the HCM City Customs Department, in 10 months of 2018, the amount of revenue collected by HCM City Customs Department has been reduced by 13,000 billion VND. In that, reduced by 8,000 billion VND from the tariff lines of the 11 FTAs; reduced the amount of revenue from imported cars under the Decree 116 that was about 3,600 billion VND and from petroleum 1,400 billion VND

According to Mr. Nguyen Quoc Toan, deputy head of Division of Import-Export Duty Division of HCM City Customs Department, if there was no impact on tax reduction, by the end of October, the HCM City Customs Department would have collected 99,450.00 billion VND, increased by 14% over the same period of 2017 (achieved by 87.222 billion VND), the import-export turnover would have increased by 11.17%.