May 27, 2018 04:24

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HCM City Customs: Budget revenues decreased by more than VND 4,000 billion due to reduced import cars

20:59 | 13/05/2018

VCN- Imported cars through the port of Ho Chi Minh City reduced sharply, which made revenues of the HCM City Customs Department reduce by more than VND 4,000 billion.

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Automobiles were imported through Hiep Phuoc port in early 2018. Photo: T.H.

Analysis of the Ho Chi Minh City Customs Department showed that the import value of all types of imported cars in the first 4 months of 2018 decreased dramatically (nearly $US 220 million). In the same period of 2017, the State budget revenues from cars reached nearly VND 6,000 billion, while in the end of April 2018, the State budget revenues reached only VND 1,800 billion (a decrease of VND 4,200 billion).

Although according to statistics from the General Department of Vietnam Customs, the number of imported cars in April 2018 increased sharply (1,335 vehicles, worth $US 23.4 million). However, the cargo volume to Hiep Phuoc port in Ho Chi Minh City is negligible.

Imported petroleum increased by 35.1% (an increase of $US 250 million), the price of gasoline in the world increased, New York market reached $US 67.8 per barrel, London Brent oil price reached $US 73.6 per barrel. With a decrease in gasoline inventories of $US 171 million and tariff reductions in line with the FTA tariff reduction schedule, the petroleum revenues from the petroleum group rose slightly.

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In the first quarter of 2018, the revenue of the HCM City Customs Department decreased by VND 600 billion compared to the first quarter of 2017. However, in April 2018, the revenues decreased by VND 1,732 billion, approximately equal to the revenue of the first 3 months of 2018. By the end of April 1818, State budget revenues of the HCM City Customs Department only reached 89.52% compared to the same period of 2017.

By Le Thu/ Hoang Anh