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Economic News

Last updated: Thursday, November 16, 2017

 

HCM City Customs Eyes VND109 Trillion of Budget Revenue

Posted: Monday, July 17, 2017

The Ho Chi Minh City Customs Department collected and transferred VND52.4 trillion to the State Budget in the first 6 months of 2017, equal to 48.10 per cent of the full-year plan of VND109 trillion and up 8.32 per cent year on year. The department detected and seized 710 cases of violations with merchandise value of over VND68,584 billion, up 5.2 per cent in number of cases and down 84 per cent in value from the same period of 2016.

According to the department, although violation cases and value declined in the first six months of 2017 from a year ago, smuggling and trade fraudulence remained very complicated. Violators abused open policies and utilised temporary import for export, transit and flowing activities to smuggle and defraud. In addition, the department also earned nearly VND450 billion from its internal services, including VND250.7 billion from consultations and VND188 billion from post-clearance audits.

At a conference reviewing the first half of the year and previewing the second half, the Ho Chi Minh City Customs Department and its affiliates presented five papers on difficulties, problems and weaknesses in budget collection, debt recovery, management supervision, anti-smuggling and trade fraudulence prevention. The department also unanimously resolved to implement solutions in the last six months, with a focus on realising the target of VND109 trillion in budget revenue, up 6.3 per cent over 2016, preventing tax loss and intensifying post-clearance audits.

Le Hien








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