The sharp decrease in the number of automobiles imported to Ho Chi Minh City Port affects tax revenue

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Customs officer is carrying out Customs procedures for automobiles of less than 9 seats. Photo:T.H

According to Ho Chi Minh City Customs Department, in the first 7 months of 2018, import turnover of automobiles reached nearly US$ 93 million, reducing by US$ 415 million compared to the same period in 2017 (over US$ 508 million).

Of which, the import turnover of automobiles of less than 9 seats only reached US$ 40 million, decreasing by US$ 257 million; import turnover of auto transport reduced by US$ 138 million. Only import turnover of 9 seats or more reached over US$ 3 million, increasing by US$ 719,581.

Not only import turnover of CBU cars reduced, but also import turnover of automobile components and spare parts fell by US$ 37 million compared to the same period in 2017, reaching US$ 334 million.

The sharp decrease in import turnover of automobiles, thereby, the revenue of Ho Chi Minh City Customs Department reduced by over VND 7,000 billion.

Ho Chi Minh City Customs Department: Revenue from automobile decreased over VND 2,000 billion VCN- According to Ho Chi Minh City Customs Department, as of the first two months of 2018, ...

According to the forecast from Ho Chi Minh Customs Department, from the end of the third quarter to the beginning of the fourth quarter, the number of luxury cars imported from Europe and North America will increase under the orders by the companies. Thus, in the last 4 months of 2018, the Ho Chi Minh City Customs Department can additionally collect VND 3,000 billion to 4,000 billion.