Customs Authorities Rake in US$14 Bln for State Budget

3:41:03 PM | 10/6/2022

Customs authorities collected an estimated VND328.9 trillion (US$14 billion) for the State Budget in the first nine months of this year, equal to 93.4% of the full-year estimate and 89% of the revised target, and up 14.7% from the same period of 2021. The sector is expected to collect VND420 trillion (US$17.8 billion) this year.

A representative of the Import-Export Tax Bureau under the General Department of Customs (GDC) said that the taxable import and export value of Vietnam reached US$115.5 billion in the year to September 29, up 14% year on year. Of the sum, the taxed import value was US$108.7 billion, up 12.7%, and the taxed export value was US$6.8 billion, up 40%.

Specially, big import taxpayers increased sharply in prices. For example, coal shipments totaled 24.4 million tons worth US$5.814 million, down 16% in volume but up 87.4% in value. Crude oil imports amounted to 8.6 million tons valuing US$5.736 billion, up 18% in volume and 58% in value. Petroleum imports reached 4.98 million tons worth US$5.228 billion, up 17% in volume and 122% in value.

In addition, the soaring import of inputs for production resulted in a sharp rise in budget revenue. Computers, electronic products and components increased by 26.3%, helping the tax value of this line to rise by VND1,720 billion. Telephones and components jumped 57.4%, helping raise the tax value of this item by VND2,300 billion. Plastic materials leaped 7.8%, thus adding VND1,032 billion to the tax value of this item.

However, because revenue has tended to decrease gradually from June, the customs sector was estimated to collect VND420 trillion for the state budget in 2022, equal to 122.7% of the full-year estimate, equal to 116.7% of the revised target and up 14.67 % year on year, said the representative.

Madam Le Nhu Quynh, Director of the Import-Export Tax Bureau, said, to monitor and evaluate the budget collection in 2022 and develop a budget collection plan for 2023 and for the 2023-2025 period, in the fourth quarter, the customs sector will continue to actively adhere to tasks and solutions of the Action Plan of the General Department of Customs on implementation of Resolution No. 01/NQ-CP and Resolution No. 02/NQ-CP of the Government and Resolution No. 43/2022/QH15.

Specially, the sector will continue to execute Directive 439/CT-TCHQ on consistent and drastic implementation of measures to facilitate trade, improve state management, and prevent budgetary revenue loss in 2022; promptly and effectively apply business support policies; coordinate with relevant agencies to quickly handle congestions of goods and agricultural products at land border gates.

The customs sector will intensify the fight against revenue loss by conducting procedural supervision, post-customs clearance inspection, specialized inspection, fight against smuggling and trade fraud; and focus on anti-fraud checks on quantity, value, code, origin and trademark.

The sector will strictly control, promptly detect and prevent illegal transportation of smuggled goods, import of counterfeited or pirated goods; import of deliberately falsified goods (type, volume and value); import of prohibited goods; consumption of goods subject to customs supervision (transit goods, temporary import for re-export, processed goods, manufactured and exported goods). The sector will actively review, classify, recover and handle tax debts incurred before January 1, 2022 and prevent new tax debts in 2022.

Hien Phuc (Vietnam Business Forum)