Customs budget revenue exceeds annual target

Monday, Dec 08, 2014 08:17

Custom officers check imported goods at the Mong Cai border gate in the northern province of Quang Ninh. The General Department of Customs's total budget for this year is expected to reach VND248.5 trillion ($11.6 billion), a 12.2 per cent year-on-year increase. — VNA/VNS Photo Hoang Hung

HA NOI (Biz Hub) — The General Department of Customs' budget revenue as of November 26 reached VND225.4 trillion (US$10.6 billion) or 100.6 per cent of the 2014 target.

Collections of the export-import, special consumption and environmental protection taxes reached VND84.9 trillion ($3.9 billion) while those of the value added tax reached VND140.2 trillion ($6.6 billion).

The department's total budget for this year is expected to reach VND248.5 trillion ($11.6 billion), a 12.2-per cent year-on-year increase and 110.9 per cent of the forecast for this year.

The department attributed the high revenue to the 12.8-per cent year-on-year increase in collections in the first 11 months of this year.

The Viet Nam customs department this year instructed local customs departments to tighten the collection and disbursement of the State budget and tackle difficulties in tax policies in a timely manner.

The customs department also increased the implementation of post-customs clearance and inter-sectoral co-operation to prevent and detect trade fraud.

In turn, the local departments proposed measures to prevent losses and increase management by price consultation and price and tax code assessment.

The high revenue was also attributed to the effective instruction of the Viet Nam Communist Party, National Assembly and Government and provincial implementation of plans to achieve annual national socio-economic development goals. — VNS

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