Revenue increasing – Worry and rejoice
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However, behind these figures are less happy than worry.
Analysis of the import and export situation shows that in the first three months of 2017, the total import and export value of goods is expected to reach US$ 89.36 billion, increased 17.5% over the same period in 2016 (in which the export value expected to reach US$ 43,73 billion, increased 12.8% and import value expected to reach US$ 45.63 billion, increased 22.4% over the same period of 2016). This has helped the State budget revenue of Customs sector in the first three months of 2017 reached to 68,593 billion VND, achieved 24.1% of the estimate and increased 21.65% over the same period of 2016.
Looking back at the fiscal revenue in the first quarter of 2015, it increased only 3.56% over the same period in 2014, in 2016 increased 3.8% compared to 2015, the increase of 21.65% over the same period of 2016 is sudden. According to Deputy Director General Department of Customs Nguyen Duong Thai, this is a good signal for the State budget revenue of Customs sector in the first months of the year. However, the Deputy Director General also said that the forecast revenue in the last 6 months of the year will decline sharply. This is contrary to the law of other years and will have a considerable impact on the construction of revenue estimates of the following year (construction estimates are built from six months of the previous year - reporter).
It can be seen that although the State budget revenue in the first quarter of 2017 increased sharply compared to the same period of 2016, the main source of income mostly from petroleum, automobile, and iron which are unstable revenue sources; crude oil prices continue to fluctuate due to implementing international commitments ... CBU is forecasted to drop sharply in the fourth quarter of 2017 due to the psychological pending tax reduction of enterprises (in 2018 the import tax rate of cars from ASEAN would to 0% - reporter), this has a great impact on total State budget revenue.
In the coming months of 2017, FTAs will continue to have a profound and deep impact on the State budget revenues of the Customs sector, particularly indirect reductions due to trade diversion. Therefore, continuing to be patient with the proposed solutions and facilitating trade are effective solutions for the Customs sector to successfully complete the State budget revenue target.
Also on this issue, Deputy Finance Minister Vu Thi Mai recently warned the Customs departments not be subjective, not satisfied with the results of State budget revenue in the first quarter and must continue to make efforts, take the initiative to implement all measures to reach the assigned tasks; all units need to manage and make good use of revenues, because there are still a lot of challenges in the last months of the year for the State budget revenues of the Customs sector.
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