Revenue plummets in the first half of the year, Ho Chi Minh City Customs finds solutions

VCN - Facing the plunge in revenue in the first half of 2023, on June 20, 2023, Ho Chi Minh City Department held a conference to guide the import-export tax management to find solutions to raise revenue in the year's second half.
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Deputy Director of Ho Chi Minh City Customs Department Phan Minh Le speaks at the conference.
Deputy Director of Ho Chi Minh City Customs Department Phan Minh Le speaks at the conference.

Praising the Import-Export Tax Division for taking the initiative to organize this conference, Deputy Director of Ho Chi Minh City Customs Department Phan Minh Le said that from the beginning of the year, with the advice of the Import-Export Tax Division, Ho Chi Minh City Customs Department has offered many solutions in the budget collection. However, for many reasons, the revenue results of the whole customs sector and of the Ho Chi Minh City Customs Department in the first half of the year fell sharply.

Thus, at this conference, the units discussed and reviewed the shortcomings. Leaders of the Department will listen to difficulties and problems, as well as proposed solutions in tax management from the customs branch, etc., to share, guide, direct and focus on a budget collection.

According to the Head of the Import-Export Tax Division under Ho Chi Minh City Customs Department, Hoang Huu Truong, the budget collection of Ho Chi Minh City Customs Department in the first half of the year was very difficult due to the decline in import-export turnover.

According to the Import-Export Tax Division analysis, in the first five months of 2023, imports and exports through Ho Chi Minh City border gates reached US$46.99 billion, down 20.34% from the same period in 2022 or US$12 billion.

The plunge in import-export turnover has affected the budget revenue of the Ho Chi Minh City Customs Department. As of May 31, 2023, Ho Chi Minh City Customs earned VND 53,591.7 billion, reaching 36.76% of the assigned target (VND 145,800 billion), down 7.95% (or 4,625.8 billion) year-on-year.

According to the leader of the Import-Export Tax Division, the revenue of Ho Chi Minh City Customs Department in the first quarter of 2023 increased mainly thanks to the surge in imported cars and gasoline, which is from the space of the end of 2022. However, these items have fallen sharply after that, reducing budget revenue.

Hoang Huu Truong said that from the beginning of 2023, Ho Chi Minh City Customs collected VND350 billion per day on average. To fulfil the budget target in 2023, from now until the end of the year, Ho Chi Minh City Customs has to collect nearly VND400 billion VND per day.

This is a very difficult task in the current conditions; Ho Chi Minh City Customs expects that the budget revenue in the last months of the year will have a breakthrough from imported consumer goods, projected to rise to serve the Lunar New Year. However, Ho Chi Minh City Customs in 2023 will be difficult to fulfil the assigned target. Budget revenue is expected to decrease by 11-12%.

Customs officers of Saigon port area 1 check tax debt records. Photo: T.H
Customs officers of Saigon port area 1 check tax debt records. Photo: T.H

At the conference, the Import-Export Tax Division introduced four topics on tax work, including tax calculation; tax policy; commodity classification and tax administration. The Import-Export Tax Division clearly stated the legal documents as the basis for implementation for each topic, implementation status at customs units and difficulties and obstacles, and recommendations for effective implementation shortly.

A bright spot in tax work at Ho Chi Minh City Customs Department in the first half of 2023 is the very high result of tax debt collection.

At the conference, assessing the tax debt management, Deputy Head of the Import-Export Tax DivisionTran Ngoc Anh said that the debt collection results of the Ho Chi Minh City Customs Department in the first half of 2023 were very impressive, with revenue of VND 620 billion, reaching over 70% of the assigned debt collection target in 2023. Of which, many bad debts have been recovered.

For effective tax debt collection and management, Mr Tran Ngoc Anh shared many contents related to debt settlement and tax accounting. In particular, it is recommended that the units must strictly manage tax debt records and update full information.

During the two-day conference, the border-gate customs and inland customs branches shared many experiences from tax debt collection and proposed solutions that effectively collect revenue and strive to achieve the highest budget revenue.

A bright spot in tax work at Ho Chi Minh City Customs Department in the first half of 2023 is the very high result of tax debt collection and handling.

At the conference, assessing the tax debt management, Deputy Head of the Import-Export Tax Department Tran Ngoc Anh said that the debt collection results of the Ho Chi Minh City Customs Department in the first half of 2023 were very impressive, with the tax debt being handled. Over VND 620 billion, reaching over 70% of the assigned debt recovery target in 2023. Many tax debts on the list of bad debts have been recovered for the state budget.

To collect, handle and manage tax debts effectively, Mr Tran Ngoc Anh shared many contents related to debt settlement and tax accounting. In particular, it is recommended that the units implementing tax debt records must be closely and fully updated with information from the beginning to the end.

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During the two-day conference, the border-gate and border-gate Customs Sub-departments shared many experiences from tax debt collection and handling cases in the past time, at the same time, recommended solutions for effective revenue collection, including efficiency, strive to achieve the highest budget revenue.

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