HCM City Customs expedites revenue collection in remaining months of year

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Officers of Zone 1st Sai Gon Seaport Customs Branch under HCM City Customs Department inspect imports. Photo: Thu Hoa

Revenue rises

The quantity of imports and exports at Zone 1st Sai Gon Seaport Customs Branch has plunged as the city applied measures on social distancing amid the Covid-19 pandemic. Currently, the volume of goods has gradually increased. However, the branch’s revenue has been affected due to the sharp decrease in revenue in July and September.

According to the Head of Tax Administration Team of Zone 1st Sai Gon Seaport Customs Branch Ly Seng Nguon, the branch’s revenue in the three peak months of pandemic prevention and control plunged compared with previous months.

However, the revenue resumed growth since October and November. As of November 30, the branch collected about VND42,000 billion, meeting over 93% of the target in 2021.

The total value of imports and exports processed by HCM City Customs Department between January and November 15 saw a year-on-year increase of 16.4% to over VND115 billion. Of which the total export turnover rose 0.8% to VND49 billion and total import turnover grew over 31% to VND66.78 billion compared with the previous year.

As of December, the municipal customs department collected over VND108,443 billion, meeting 100.4% of the target and 98.8% of the desired target compared with 2020.

Strive to exceed the target of 2-3%

Despite the serious effects of the pandemic, the units of the municipal customs department have made great efforts to maintain imports and exports for businesses. From early year to November 21, the total number of declaration forms cleared by the department decreased 4.6% year-on-year to 2.7 million.

Some customs branches that were assigned high revenue targets have achieved the targets such as the Investment Customs Branch with revenue of over VND22,000 billion and Hiep Phuoc Seaport Customs Branch with revenue of over VND15,000 billion.

Currently, the volume of imports and exports across seaports and airports in HCM City has surged. The department has implemented solutions and strived to exceed the target. The department’s leaders have requested units to regularly monitor and update the revenue collection; review and grasp their revenues to focus on inspecting business groups that have high and stable revenues, and groups of enterprises that have sudden increases or decreases in revenue, thereby, building accurate revenue estimates for the following periods and years.

In addition, units have been required to implement solutions to prevent revenue loss. Units need to focus on inspecting items with high risks of code violation and origin fraud, and strengthen inspection and control for export processing enterprises and businesses subject to tax exemption, refund or non-collection. The price assessment needs to be conducted in line with regulations and prevent undervaluations.