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BR-VT Customs: budget revenue reached VND 7,500 billion

10:37 | 15/06/2018

VCN -  According to Ba Ria - Vung Tau Customs Department (BR-VT), as of the beginning of June, 2818, the Department’s revenue  reached VND 7,500 billion, up 13% over the same period in 2017, accounting for more than 51% of the budget revenue target assigned in 2018 ( VND14,900 billion).

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The revenue from car commodity at BR-VT Customs declined sharply due to decreased import volume. Photo: Nguyen Hue

According to BR-VT Customs Department, compared to 2017, some commodities have good growth, others fell sharply in volume, but the proportion of revenue of commodities with good growth was higher than that of commodities with reduced revenues, the total revenue is still stable and tends to increase slightly.

Typically, some commodities with increased revenues including imported petroleum,as of 15/5, tax revenue reached about VND 1.111 billion, up 67.5% over the same period of 2017; Chemical products gained VND 239 billion, up 12.2%; Iron and steel collected VND 2,081 billion, up 37.2%, compared with the same period in 2017.

Besides the commodities with increased revenues, there were also some commodities with sharply decreased revenues such as imported cars collected VND 5.3 billion, down 99.3% over the same period. This was because enterprises move into component import for domestically assembly and manufacture due to impacts of Government’s Decree 116/2017 / ND-CP dated 17th October 2017; crude oil exports reached VND1,144 billion, down 18% compared to the same period last year.

In addition, from the beginning of the year so far, there have been no new investment projects in the province, so the revenue from machinery and equipment to create fixed assets has also decreased, specifically the collected tax as of 15th May 2018 was VND285 billion, down 17.6% over the same period.

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From the above situation, BR-VT Customs Department said that it is difficult to accurately predict the Department’s revenue in 2018 due to its dependence on the market’s fluctuation on the supply and demand and prices of petroleum, iron and steel. If the state budget collection in the last months of the year is as stable as the current time, it is likely that the Department may collected VND 14,900 billion to VND 15,000 billion in 2018.

By Nguyen Hue/ Huyen Trang