Thanh Hoa Customs Almost Finishes Yearly Budgetary Target

1:43:38 PM | 4/11/2020

Thanh Hoa province reported the import and export value of more than US$6.6 billion in the first nine months of 2020, up 18.54% year on year, according to Thanh Hoa Customs Department. Of the sum, the export value was more than US$2.3 billion, up 10.73% and the import value was over US$4.3 billion, up 23.46%.

In particular, the taxed import and export value was more than US$3.6 billion in the nine-month period, up 29.1%. Most taxed items picked up from a year ago. Specifically, gypsum and coal soared by 90.77%. Machinery and equipment value surged by 432.83%.

Thanh Hoa Customs Department collected more than VND8,577 billion for the State Budget in the nine-month period, up 6.67% year on year, equal to 91.25% of the target of VND9,400 billion.

Crude oil imported by Nghi Son Petrochemical Refining Co., Ltd contributed 65% of the budget revenue, or VND5,614 billion in the reviewed period. In addition, Nghi Son 2 Power Co., Ltd started to import machinery and equipment for the Nghi Son 2 BOT Thermal Power Project from late 2019, and also helped increase tax revenue of this item by 310.62% to more than VND1,765 billion.

Given this pace, Thanh Hoa Customs Department was estimated to obtain more than VND9,236 billion of tax revenue in the 10-month period, up 8.39% year on year and equal to 98.26% of the full-year target.

Source: Vietnam Business Forum