HCM City: The revenue collection of import-export tariff reduced significantly

The import of automobiles is decreased compared to the year of 2017. Photo: T.H

According to the HCM City Finance Department, the total state revenue collection in the first eight months of 2018 is estimated at 245.701 billion VND, reached 65.21% of the current appropriation, an increase of 10.26% over the same period of 2017.

In particular, domestic revenue is estimated to achieve 162,386 billion VND, reaching 63.38% of current appropriation, increased by 14.81% over the same period; if it includes the land use fees, the domestic revenue will increase by 15.5% over the same period. The revenues collected from crude oil exceed the year's plan, estimated at 15,982 billion VND, reaching 127.14% of current appropriation, increasing by 45.56% over the same period.

Notably, revenue collected from import-export activities in the last 8 months decreased sharply compared to the same period, estimated at 67,260 billion VND, reaching 62.28% of current appropriation, decreased by 4.49%. According to the HCM City Customs Department, the reason is the effect from tax lines reduction of FTAs (most of which are subject to 0% tax).

According to the HCM City Customs Department, with the above revenue, it is difficult to achieve the 2018 target of collecting 108,000 billion VND.