Customs revenue in the first four months of the year decreased by nearly 18

In the first four months of the year, the country recorded a year-on-year decrease of 15.5% in trade to US$206.27 billion. Of which, exports fell 13.2% to US$106.93 billion and imports fell 17.9% to US$99.33 billion.

The fall in trade turnover in general has made the state budget revenue of the Customs sector difficult. Specifically, by the end of April 30, the whole sector’s revenue reached VND 122,886 billion, equaling 28.91% of the assigned estimate, down 17.98% (equivalent to a decrease of VND 26,940 billion) compared to the same period in 2022.

Huu Nghi Customs officers inspect imported goods. Photo: H.Nu

The reason for the decrease in customs revenue is that the total taxable import-export value of the whole country in the first four months declined 18.2% year-on-year to only US$40.38 billion.

Of which, taxable import turnover reached US$38.07 billion, down 17.9% over the same period last year and taxable export turnover reached US$2.30 billion, down 22.3% over the same period last year.

In addition, a number of groups of imported goods in the past four months all showed a sharp decrease. Specifically, the group of imported raw materials, machinery and equipment, and imported spare parts for production such as coal, chemicals and chemical products, plastics, iron and steel, textile raw materials, electronic components, and auto parts dropped 29.6% over the same period to US$ 13 billion, accounting for 34% of total import turnover, reducing budget revenue by VND13,100 billion year-on-year.

Or the group of imported petroleum only reached 2.53 million tons, worth US$ 2.1 billion, down 7.1% in volume, down 19.5% in value, reducing revenue by about VND 2,600 billion.

In addition, in the first 4 months of the year, the Customs refunded import tax on auto parts according to Articles 7a and 7b of Decree 101/2021/ND-CP about nearly VND1,000 billion.

Cao Bang Customs: Revenue collection achieves impressive growth

According to data from the General Department of Customs, by the end of March 31, the whole sector has recovered and handled tax debts of VND 67.94 billion. The remaining tax debts managed by the Customs and under processing are VND 5,656.18 billion, down 3.37% compared to December 31, 2022.