Customs revenue to surpass target

The budget revenue of the General Department of Vietnam Customs (GDC) surpassed VND261.1 trillion ($11.5 billion , or 91.6 percent of the 2017 target as of November 28.
 

The budget revenue of the General Department of Vietnam Customs surpassed VND261.1 trillion ($11.5 billion ), or 91.6 percent of the 2017 target as of November 28 (Photo: thoibaotaichinhvietnam.vn)

The budget revenue of the General Department of Vietnam Customs surpassed VND261.1 trillion ($11.5 billion ), or 91.6 percent of the 2017 target as of November 28 (Photo: thoibaotaichinhvietnam.vn)

The information was released on Thursday during a press conference held by the GDC. Budget collection for the whole year is targeted to touch VND285 trillion. Collections of the export-import, special consumption and environmental protection taxes reached VND101.7 trillion while those of the value-added tax reached VND183.3 trillion.
November budget revenue is estimated to reach VND25 trillion .
According to Luu Manh Tuong, director of the Import-Export Tax Department, budget revenue in December every year tends to surge as enterprises usually boost the import of goods before the occasion of Tet (Lunar New Year). The department expects this month’s revenue to reach VND26 trillion .
GDC forecasts that budget collection for the whole year will likely surpass the annual target of VND285 trillion, to total VND295 trillion.
From now until the end of the year, the department will instruct local customs departments to tighten the collection and disbursement of the State budget and tackle difficulties in tax policies in a timely manner, GDC said.
The GDC will also increase the implementation of post-customs clearance and inter-sectoral cooperation to prevent and detect trade fraud.
In turn, the local departments must propose 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 Party, National Assembly and Government and provinces’ implementation of plans to achieve annual national socio-economic development goals.

Vietnamnews

Other news

Most view

A farmer harvests coffee in the Central Highlands (Illustrative photo)

Vietnam Coffee Day opens in Da Lat city

The first Vietnam Coffee Day was opened in the Central Highlands city of Da Lat last night, taking place until December 11.

Banking-finance

Economy

One mln ton cashew farming area established in Cambodia

According to Viet Nam Cashew Association (Vinacas)'s Chairman Nguyen Duc Thanh, Vietnam’s cashew industry in collaboration with the Ministry of Agriculture, Forestry and Fisheries of Cambodia and Cambodian enterprises to establish a cashew farming area in Cambodia to produce one million tons of material cashew per year. 

Self - introduction

Stock market

Shares rise amid growing caution

Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.