Quang Ninh Customs: Rise in Petroleum, Coal Imports Signals Good Budget Revenue

3:46:55 PM | 3/26/2023

Tax revenue from key imported products such as petroleum and coal is signaling a good prospect for Quang Ninh Customs Department in the first months of 2023.

Cai Lan International Container Terminal (CICT), Quang Ninh province

Quang Ninh Customs collected VND2,759.14 billion for the State Budget in the year to March 6, representing a year-on-year growth of 102.5% (VND1,396.74 billion).

The department was assigned to collect VND11,500 billion in 2023 by the Ministry of Finance. Also in response to resolutions of the Provincial People’s Committee and the Provincial People’s Council, Quang Ninh Customs worked out a plan for managing budget revenue in the year.

Accordingly, Quang Ninh Customs announced specific tasks and solutions to achieve the goal of VND12,000 billion of tax revenue assigned by the Quang Ninh Provincial People’s Committee.

The department directed its units and subordinates to adhere to the given tasks and solutions for effective implementation; analyze, evaluate and forecast existing and potential revenue sources on a monthly, quarterly and yearly basis to propose practical and feasible solutions and develop specific scenarios for implementation. Every month, they must evaluate the implementation progress of proposed solutions and scenarios.

An official from Quang Ninh Customs explained that the January budget revenue jumped as the output of Nghi Son Refinery dropped due to production disruption and Petrolimex increased imports to fill the gap. Besides, Vietnam National Coal, Mineral Industries Group (Vinacomin) and Dong Bac Corporation increased coal imports for power production, resulting in tax revenue growth.

Tax revenue from imported petroleum products reached VND1,347.18 billion, up 424.14% (up VND 1,091 billion) over the same period in 2022.

Boosted by the momentum in the first months of 2023, Quang Ninh Customs estimated to collect VND3,540 billion of tax revenue in the first quarter (after refunding VND200 billion of tax for companies entitled to special import tariffs), an increase of 38.82% (VND990 billion) compared to the given scenario.

Quang Ninh Customs is carrying out many solutions to fulfill its target: Speeding up administrative reform toward greater transparency, convenience, ease of execution, shorter customs clearance time and decreased cost for companies to enhance competitiveness; encouraging companies to invest in manufacturing and attracting businesses to carry out customs procedures. This is expected to raise budget revenue.

In recent years, Quang Ninh Customs has effectively implemented solutions to "retain" existing customers and attract more businesses to carry out customs procedures. Currently, the department is actively contacting and meeting with businesses (face to face, via telephone or email and other means) to learn about their importing and exporting activities and support them to solve problems or recommend proposals to competent authorities to deal with difficulties companies face in export and import.

Quang Ninh Customs has also assigned agency leaders to support businesses more effectively. The focus will be placed on big exporters and importers in a bid to increase tax revenue and attract other companies to the department for the settlement of customs procedures.

Based on business satisfaction with service quality, customs agencies will conduct a review of professional stages to further reduce clearance time, improve competitiveness and provide the most favorable conditions for import and export activities.

By Le Hien, Vietnam Business Forum