VCN – As of November 30, the Customs sector’s revenue saw a year-on-year increase of 14.12% to VND401,221 billion, meeting 95.5% of the initially ambitious target.
|Revenue targets of 35 local customs departments are adjusted.|
According to a representative of the Import and Export Duty Department, the positive achievement in revenue results from the year-on-year increase in the total taxable import and export turnover was 12.21% to VND139.71 billion in the first 11 months of the year.
The taxable import and taxable export turnover rose 11.2% and 30.9% to US$ 131.38 billion and US$ 8.33 billion, respectively. In addition, the surge in the price of crude oil is also the fundamental reason for the increase in revenue, especially for import-export crude oil, plastics, and chemicals.
Officers of the HCM City Customs Department process procedures for enterprises. Photo: Thu Hoa
Some items saw a surge in taxable import turnover, such as crude oil, up 4.5% in volume and 58.8% in value to 9.24 million tons and US$ 7.18 billion, respectively, making the increase in revenue of VND7,000 billion; Petroleum products up 21.7% in volume and 115% in value to 6.19 million tons and US$6.36 billion, respectively; Plastic material up 4.9% in volume and 8.5% in value to 4.2 million tons and US$6.92 billion, raising the revenue of VND1,500 billion; Steels and irons down 4.3% in volume to 8.8 million tons but up 4.7% in value to VND8.39 billion, growing the revenue of VND970 billion.
The export turnover of some products increased, such as crude oil, down 15.2% in volume to 2.46 million tons, up 28.9% in value to US$2.08 billion, making the increase in revenue of VND448 billion; Coals down 35.8% in volume and up 66.5% in value to 1.07 million tons and US$ 369.93 million, increasing the revenue of VND346 billion; fertilizers up 308.8 % in volume to 797,000 tons and up 670.9% in value to US$509 million, raising the revenue by VND509 billion over the same period last year.
In November alone, the customs sector collected VND36,854 billion, up 7% compared to October. The taxable import and export turnover increased by 0.71% to US$ 11.86 billion month-on-month. Only in the first five days of December the Customs sector collected VND5,494 billion. The revenue in December is estimated at VND33,000 billion.
The revenue for the whole year expects to reach VND 434,000 billion, meeting 123.29% of the estimate and 103.3% of the ambitious target.