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Khanh Hoa Customs officials supervise at the petroleum bonded warehouse. Photo: T.H

According to Khanh Hoa Customs Department, the unit's main source of revenue is from petroleum products, with the result of VND 882.42 billion, accounting for 40% of total revenue, up 44.84% over the same period in 2023 (VND 273.17 billion).

Revenue from imported coal reached VND 785.9 billion, accounting for 35.29% of total revenue, up 49.31% over the same period in 2023 (VND 259.56 billion). The reason for the increase in imported coal is that Van Phong Thermal Power Plant has come into operation and supplied electricity to the national grid.

Along with the above two items, Khanh Hoa Customs Department also has revenue from imported tobacco raw materials.

In nine months, the revenue from this item reached VND228.63 billion, accounting for 10.27% of total revenue, up 6.11% over the same period last year (VND13.17 billion).

According to Khanh Hoa Customs Department, since April 2024, Khanh Viet Corporation has been granted a quota to import tobacco raw materials, this company has continuously imported many tobacco shipments for production, contributing to increasing revenue for the State budget.

In addition to the above key items, many imported items have also decreased, affecting the State budget revenue of Khanh Hoa Customs Department.

Specifically, revenue from raw materials, machinery and equipment for shipbuilding of Hyundai Vietnam Shipbuilding Co., ltd (HVS) in the first nine months of 2024 only reached over VND 144 billion, accounting for 6.48% of total revenue, down 4.44% compared to the same period in 2023 (VND 6.71 billion).

In addition, decrease in revenue from machinery, equipment and other goods due to the 2% reduction in value added tax rate of VND 6.69 billion, worth US$12.15 million for groups currently applying a tax rate of 10% down to 8% according to Decree No. 72/2024/ND-CP dated June 30, 2024 of the Government, has directly affected the unit’s revenue.

However, thanks to the high increase in imported goods, it has positively impacted the State budget revenue of Khanh Hoa Customs Department. In the first nine months of 2024, Khanh Hoa Customs Department has achieved and exceeded the 2024 target.

Specifically, the State budget revenue reached VND 2,226.86 billion, exceeding 4.06% of the assigned estimate, up 27.49%, equivalent to an increase of VND 480.11 billion over the same period last year.

To achieve the above results, in addition to the positive performance of enterprises, Khanh Hoa Customs Department has promoted administrative reform, customs modernization, and application of information technology in customs operations.

The Department has also focused on implementing the regulations on State policies and mechanisms and customs procedures for all types of import and export. At the same time, strengthening customs inspection and supervision of import and export goods and means of transport in accordance with the provisions of law.

The unit has completed customs clearance procedures for nearly 21,000 import and export declarations, with a total turnover of nearly US$2.6 billion of over 190 enterprises. These indicators are all higher than the same period last year.

Khanh Hoa Customs meets businesses

In addition, Khanh Hoa Customs Department focuses on debt collection. As of September 15, 2024, the unit's outstanding tax debt was only VND 43.58 billion, down VND 20.25 billion (31.72%) compared to December 31, 2023.

According to Khanh Hoa Customs Department, in the last 3 months of the year, the unit continued to drastically implement solutions to ensure the highest state budget collection results.

However, the amount of imported gasoline for the whole year of 2024 of the Vietnam National Petroleum Group was completed in the first 6 months of the year. Currently, the group has no plans to import gasoline and oil in Khanh Hoa in the last three months of 2024 and the whole year of 2025. Therefore, the unit's state budget revenue in the last months of the year will certainly not be as high as in the first months of 2024.