Revenue from import and export tax in May plummeted

VCN- The decrease in demand for goods, difficult customs clearance, thedecline in labor source and operation of businesses have indirectly impacted the Customs’ revenue in May with a decrease of 9% compared to April.  
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revenue from import and export tax in may plummeted
Chart by T.B

Revenue in first five months slumped VND25,621 billion

According to the Import-Export Duty Department, the total value of import and export goods in May reached US$37.24 billion, increasing by 3.15% compared to the previous month and decreasing 16.85% compared to May 2019.

Meanwhile, the total value of taxable import-export turnover was US$8 billion, decreasing by 1.9% compared to April. The total import-export turnover of the whole country in the first five months of the year reached US$197.03 billion, down 2.85% over the same period in 2019 and the total value of taxable import-export turnover reached US$41.74 billion, down 12.6% year-on-year.

Taxable turnover of some major export items sharply reduced, including ore and other minerals dipping by 19.7% in volume and 23.1% in price; crude oil decreasing by 27.3% in value. Taxable turnover of major import items plunged, including CBU cars reached US$794 million, down 42.6%, tax payable reached VND11.014 billion, decreasing by VND7,829 billion; machinery, equipment and spare parts reached US$6.88 billion, dipping by 12.3%, tax payable reached VND17,696 billion, decreasing by VND2.847 billion; automobile spare parts and components reached US$1.2 billion, down 22.9%; tax payable was VND6,260 billion, down VND2,377 billion; computers, electronic products and components reached US$1.66 billion, down 41.6%, tax payable wasVND4,349 billion, down VND3,078 billion compared to the same period last year.

Especially, import turnover of petroleum products fell to a record 43.4% over the same period in 2019.

The figures have shown that the total import and export value has a great impact on Customs’ revenue. Accordingly, the total turnover in the first five months of the year reached VND123,485 billion, equaling 36.5% of the estimateand 34.8% of the desired target and decreasing by VND25,621 billion, equivalent to a decrease of 17.18% year-on year (VND149,106 billion).

The revenue of some local customs departments fell, including Ho Chi Minh City Customs Department decreased by 19.3%; Hai Phong Customs Department by25.74%; Dong Nai Customs Department by24.76%; Ba Ria Vung Tau Customs Department by17.98%; Bac Ninh Customs Department by15.1%; Ha Nam Ninh Customs Department by17.2%; Hanoi Customs Department by5.8%; and Binh Duong Customs Department by 6.8% over the same period in 2019.

The representative of the Import and Export Duty Department said that these eight departments’ revenue accounted for 83% of the entire Customs sector’ estimate. Meanwhile, by the end of May, the total revenue of these departments only reached 63.69%, down 19.3% over the same period in 2019 (equivalent to a decrease of about VND22,270 billion).

Also, the representative said with the assigned target, the entire Customs sector must collect VND28,166 billion on average per month. But in the current situation, the average revenue in the first five months only reached more than VND24 billion per month. Meanwhile, the revenue from imported petrol and cars sharply decreased, leading to the decline in the revenue from Special Consumption Tax of nearly VND7 billion. It is easily explained because many import and export contracts of enterprises have been delayed or canceled due to Covid-19 pandemic, leading to the decreaseof VND14,000 billion in the VAT revenue of major items.

Especially, in May the Customs’ revenue only reached VND21,257 billion, decreasing VND2,104 billion, equivalent to 9% compared to April. The reason for the low revenue, according to the representative of theImport-Export Duty Department, Covid-19 pandemic still hadmany complicated developments in countries around the world, leading to a great impact on import-export activities.The total value of taxable import-export turnoverreached US$8 billion, down 1.9 % compared to April.

Drastically implement solutions to prevent revenue loss

At the conference deploying tasks on June 5, General Director of the General Department of Vietnam Customs (GDVC) Nguyen Van Can said that Covid-19 has been controlled in Vietnam. However, the impacts on the socio-economic situation, including the customs performance,are still very great. To complete assigned tasks, especially in June, the entire customs sector needs to focus on effectively implementing IT application for customs reform and modernization, including perfecting the project of redesigning the information technology system. Urgently implement the screening process for targeted shipments by container scanners and implement this process first in Hai Phong Customs Department and Ho Chi Minh City Customs Department.

In addition, the whole sector needs to promote solutions for administrative procedure reform and trade facilitation, especially to enhance dialogue and remove difficulties and obstacles for the business community, stabilize and restore production after the Covid-19 pandemic. Customs units need to strengthen solutions to exploit new revenue sources, monitor, follow up and grasp the operation, the effect level of each enterprise to have timely solutions to support businesses as well as prevent the abusing of the difficult situation for trade fraud, smuggling, vacating and missing.

Director General Nguyen Van Can requested units to promote the approved programs and plans to inspect, closely monitor, detect and handle acts of smuggling and illegal transportation of goods across border gates. Strengthen inspection and supervision to prevent smuggling and illegal transportation of goods via border crossing, trails, especially Cao Bang and Lang Son border routes.

By Dao Le/Ngoc Loan

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