|Customs officers of Ba Ria – Vung Tau Customs Department guide enterprises to complete import-export procedures. Photo: N.H|
Many sources of revenue drop sharply
According to the report of Ba Ria – Vung Tau Customs Department (BR-VT), import-export turnover in July 2022 reached US$2.06 billion, decreasing by 15% compared to the previous month. In particular, import-export turnover with tax witnessed a stronger decrease, dropping by nearly 27%, reaching only US$0.929 billion. Accordingly, the revenue collection in the month only reached VND1,726 billion, falling by 17% compared to the same period in June.
In the first seven months of 2022, import-export turnover reached US$16.4 billion, increasing by 11% compared to the same period last year. However, import and export turnover with tax dropped by over 3%, reaching US$6.86 billion.
The accumulated tax amount by the end of July 2022 reached VND 12,864 billion, declining by 9% over the same period last year. With this result, BR-VT Customs Department has only completed 63% of current appropriation and 61.5% of the striving target.
In the revenue structure of the BR-VT Customs Department in the first seven months of 2022, the amount of crude oil exported is about 1,342 thousand tons, equivalent to US$1.19 billion, decreasing by 24% in volume while increasing by 32% in value compared to the same period last year.
The reason is that the average crude oil price in 7 months reached US$109.09/barrel, rising by 59% over the same period last year. As a result, the accumulated tax amount reached VND1,878 billion, growing by 42% over the same period in 2021.
Similarly, regarding imported petroleum products, the taxable import turnover was about US$69 million, increasing by 45% over the same period last year; the accumulated tax receivable reached VND193 billion, an increase of 18%. Taxable import turnover of coal also increased by 46%, reaching US$296 million; the accumulated tax receivable reached VND840 billion, rising by 36%.
However, in the first seven months of this year, the BR-VT Customs Department has recorded many items with a very strong decrease in revenue, especially those key products in terms of revenue such as iron and steel, which contribute a large proportion of the total revenue of the unit, but the import turnover of iron and steel in seven months has decreased by nearly 11%, reaching only US$1,407 million. Accordingly, the tax receivable from imported iron and steel also decreased by 13%, equivalent to a decrease of VND511 billion, reaching only VND3,295 billion.
Similarly, the taxable import turnover of chemicals also dropped by 20%, to US$319 million, the tax receivable decreased by 15%, reaching only VND779 billion; the taxable import turnover of machinery and equipment also fell sharply by 78%, to US$172 million, causing a decrease of 80% in payable tax, reaching only VND 405 billion.
Notably, the decrease in revenue of many items has tended to be stronger in recent months. Typically, in July 2022, revenue from chemicals decreased by 28% compared to June; imported iron and steel reduced by 56%.
Meanwhile, although coal revenue increased by 46% in seven months compared to the same period last year, in July, revenue from this item decreased by 62% compared to June.
The reason is that the import turnover of coal dropped sharply by 67% in July. Similarly, the import turnover of agricultural products such as corn, palm oil, wheat, and oilcake also fell 29% in July, a sharper drop than the average of 17.5% in seven months. Therefore, the revenue from these items has leveled off to the level of June, while the previous months have increased.
Deputy Director of BR-VT Customs Department Bui Sy Duc said that because Long Son factory has been put into operation, it no longer imports machinery and equipment, affecting revenue from this item. Along with that, PV Oil Company has completed the construction of a factory in Hai Phong, so the amount of petroleum imported by this enterprise is allocated half to the factory in Hai Phong, resulting in a decrease in revenue.
Stop the downward momentum
Facing the decline of key items in revenue, Deputy Director of the Department Bui Sy Duc said that the unit regularly works with businesses to ensure revenue as well as accompany and solve difficulties to support businesses to quickly restore production activities after the pandemic.
Along with that, the unit also continues to reform and simplify administrative procedures in the field of customs in the direction of modernity, publicity and transparency, in order to contribute to improving the business environment and enhancing national competitiveness, the ability to attract enterprises to carry out customs procedures at Cai Mep – Thi Vai port cluster.
BR-VT Customs Department continues to closely monitor the situation of tax debt collection and handling, proposes debt cancellation for eligible enterprises as prescribed; continues to coordinate with Customs Branch to implement solutions in time to collect tax debt; continues to monitor the implementation of the project of e-tax payment and cargo clearance 24/7.
To prevent tax loss, BR-VT Customs Department has strengthened the information collection, processing and evaluation, and established inspection criteria for key enterprises and items with signs of risk. At the same time, the unit regularly establishes, updates and applies the criteria for selecting import and export goods to conduct customs inspections in a timely manner.