VCN - According to Ha Tinh Customs Department, State budget revenue of Vung Ang Economic Zone (EZ) accounts for 97.24% of the total revenue of the whole Department, especially the revenue from Ha Tinh Formosa Hung Nghiep Iron and Steel Company Limited (hereafter called Formosa). The reduction of the production and import volume of Formosa have greatly affected the revenue targets of Ha Tinh Customs.
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Decreased sharply in September
According to statistics of Ha Tinh Customs Department, by November 10, the total import-export turnover of goods reached US$2.58 billion, up 1.17% over the same period in 2018. The State budget revenue of the unit was VND5,600 billion, reaching 81.1% of the assigned target (VND6,900 billion). The main revenue source to get this is from Formosa of nearly VND5,304 billion, accounting for up to 93% and revenue from other enterprises is nearly VND300 billion, accounting for 7% of the total revenue of the Department.
According to Mr. Dinh Van Hoa, Deputy Director of Ha Tinh Customs Department, production, business, import and export activities of Formosa have a decisive influence on the revenue of Ha Tinh Customs.
Also according to Ha Tinh Customs Department, October's revenue was nearly VND370 billion and it is expected that in the last two months of this year, revenue will drop sharply. The reason is the impact of the US-China trade war, so Formosa cannot sell its products.Currently, the inventory is quite large, which makes the company reduce production. By reducing the production process, Formosa also reduced the import of items such as iron ore and coal.
Talking to reporters from Customs Newspaper, a representative of the Import and Export Department of Formosa said that the global demand for iron and steel market was not stable, which led to a decline in domestic demand for iron and steel. Therefore, it is imperative that Formosa implements projects byreducing production costs andsteel production to cutlosses. Therefore, there is a reduction in demand for input materials such as iron ore, coal and metallurgy.
Strive for the highest level
According to the evaluation of Ha Tinh Customs Department, on the basis of assessing the revenue in the first 10 months of the year, the estimated State budget collection in the last two months of the Department is only about VND400 billion. Ofwhich, revenue from Formosa is about VND350 billion and from other enterprises is VND50 billion.
Mr. Dinh Van Hoa said that in order to be proactive in implementing revenue estimates in the last months of 2019, Ha Tinh Customs directed its units to implement drastically and synchronously solutions to increase collection based on the practical situation. Working directly with enterprises with large revenues in the area, especially for Formosa, to grasp the specific needs of import and export of goods, expect the tax amount being collected from now to the end of the year and propose measures for fulfilling the assigned criteria.
To achieve the highest revenue target, the unit continues to promote administrative reform and modernization in all fields, drastically implement measures to increase revenues. Strengthen anti-revenue losses through price consultations, post-clearance inspections, focusing on commodities and enterprises with high risks. Grasp information, attract enterprises to carry out customs procedures, accompany authorities at all levels in economic development and ensure safety and security at border gates and seaports.
By Dao Le/ Binh Minh