Many key items create source of revenue for State budget of HCM City

During social distancing, HCM City Customs always maintain the import – export operation

Imported iron, steel and petroleum increased

According to HCM City Customs Department, Vietnam in general and HCM City, in particular, have initially successfully implemented the dual goals, leading to achievement in the economic growth of 3%, business activities have recovered. Economic activity in the first months of 2021 of HCM City has had a relatively strong growth step because the adaptation of businesses to the operation of the economy with new FTAs ​​such as EVFTA and UKVFTA has been better.

Import-export activities have grown significantly and businesses have had a good way to adapt to the new normal, both pandemic prevention and operating business better, contributing to the budget.

The total import-export turnover of goods cleared by HCM City Customs Department as of May 15, 2021 reached $62.77 billion, up by 15.7% from the same period in 2020 (reaching $54.24 billion). Export turnover reached $29.52 billion, rising by 11.9% from the same period in 2020 (reaching $26.38 billion) and import reached $33.25 billion, up by 19.3% over the same period last year (reaching $27.86 billion).

Thus, during the first six months of the year, the import-export turnover through HCM City Customs Department has increased compared to 2020. It showed that Vietnam in general and HCM City, in particular, have successfully implemented the "dual goals" - both anti-pandemic and economic development. In addition, the economic activity of HCM City has experienced a relatively strong growth because firms have adapted the operation of the economy with new FTAs such as the EVFTA and UKVFTA, therefore, import-export turnover has grown significantly.

Many key imported products increased, generating revenue to the State budget. In particular, iron and steel reached about $1,174 million, up by 30.2% over the same period in 2020; automobile of all kinds reached about $400 million, growing by 12.9% from the same period in 2020; completed two-wheeled motorbikes reached $200 million, rising by 65.2% and gasoline, diesel oil is estimated at $1,236 million, increasing by 57.0% over the same period in 2020.

With the achievement of import-export turnover in the first months of 2021, HCM City Customs Department forecasted that if Vietnam controls the pandemic well, the last six months of 2021 it will still increase by 3% to 5% compared to the first six months of 2021.

Creating favourable conditions, increase revenue collection

In the context of the Covid-19 pandemic, affecting production and business activities, HCM City Customs has made efforts to facilitate and maintain trade flows with many imported key products, generating revenue for the State budget.

Following the direction of leaders at all levels, from the actual situation to the socio-economic context since the beginning of the year, HCM City Customs Department has developed programs and action plans to ensure the prevention of the Covid-19 pandemic, on the other hand, supporting and creating conditions for the business community to carry out customs clearance procedures while still ensuring revenue collection.

Especially, during the pandemic time, with the changes in the way of revenue management and supervision, revenue loss prevention, correct and adequate collection, anti-smuggling, preventing tax evasion and trade fraud; supporting the business community of relevant agencies, revenue has skyrocketed despite the pandemic.

As of May 15, HCM City Customs Department collected VND 44,487 billion, reaching 41.2% of the estimate (VND 108,000 billion), reaching 39.4% of the striving target (VND 112,900 billion), an increase of 21.8% (an increase of VND 7,965 billion) from the same period in 2020. It is estimated that until June 30, the revenue will reach VND 58,300 billion; reached 53.9% of the estimate.

According to HCM City Customs Department, the task in the second half of the year is very heavy due to the complex pandemic situation, HCM City Customs Department will continue to implement solutions to support the business community to increase exports and imports under the proposed solution roadmap. This is the time for each customs official to show their role and responsibilities when the Director of HCM City Customs Department has committed to leaders at all levels and the business community to "creativity for breakthroughs; accompanies to create maximum trade facilitation for the business community; and at the same time collect correctly and fully, and nurture State revenues".

Besides implementing solutions to support businesses, HCM City Customs Department will conduct analysis and assessment of import-export turnover quarterly and monthly to propose plans and solutions for deploying appropriate revenue collection; reviewing, checking and completing the dossier, make a dossier of eligibility to propose the debt cancellation. In 2021, completing inspection of 100% of tax debt dossiers at Customs Branch and Post-Clearance Audit Branch.

Regularly checking and reviewing the system to detect cases of revenue loss through professional operations: policy, safeguard tax, anti-dumping tax, FTAs ​​tax, MFN tax and normal tax. Strictly inspecting and managing sensitive goods that enterprises transfer to carry out procedures in other localities with lower taxable prices to report to the General Department of Vietnam Customs for rectification.

Researching general characteristics of each branch to change the management method in the direction of both facilitating and strict management; decentralise organisation of consultation, rejection of declared prices, tax assessment in accordance with the authority of each unit to collect revenue correctly and fully.