The Viet Nam National Petroleum Group (Petrolimex) has limited the imports of petroleum products to consume products of Nghi Son Refinery factory located in the central province of Thanh Hoa since this month.

According to the General Department of Customs, tax revenue from imported petroleum in the first seven months of this year reached VND21.6 trillion (US$951.5 million), increasing VND5.4 trillion compared to the same period last year.

Thus, the increase in revenue of the customs sector over the seven months is mainly due to the increase in the value of imported gasoline.

The General Department of Customs estimated tax revenue from gasoline imports in the final months of the year will decrease sharply.

The volume of imported gasoline last month decreased by 42 per cent compared to June, reducing the revenue of the customs sector by about VND1.5 trillion.

In a calculation last month, the General Department of Customs estimated that the Nghi Son Refinery will supply 3.99 million tonnes of petroleum products to the market.

Therefore, the amount of imported gasoline will be reduced and the budget revenue of the customs sector is forecast to drop by VND15 trillion. — VNS