Import-Export Tax Payments to Reach US$3.8Bln in 2006

The custom sector expects to collect VND60 trillion (US$3.8 billion) worth of import and export taxes in 2006, said Le Manh Hung, director of the General Customs Department at the annual workshop to review the sector's operation on December 22.

 

According to the conference, the sector estimated to collect VND51.7 trillion (US$3.3 billion) in taxes by the end of this year, a surplus of 10.6 per cent over the initial target and increase of 12.96 per cent on-year.

 

However, current import-export tax arrear remains at VND3 trillion ($190 million), including VND1.5 trillion of bad debts.

 

Hung said that this year is a successful year as the sector has accomplished almost all its targets, such as supervision and inspection of imported and exported products, anti-trafficking, custom clearance and international exchange and cooperation.

 

Pointing out the task for next year, Hung said that the customs sector would focus on improving facilities in order to help enterprises carry our customs clearance procedures quickly. It will also implement further inspection process, and provide training programs to the customs officials on HS, GATT, C/O, intellectual property, Kyoto convention, and risk management.

 

Addressing the conference, Minister of Finance Nguyen Sinh Hung urged that the sector must tighten control over harassment evils and negative activities against enterprises. He added that the sector should enhance and expand application of electronic customs clearance.

 

In related news, the General Taxation Department forecast that Vietnam would collect VND170.5 trillion ($10.8 billion) worth of taxes in 2005, an increase of 19 per cent from the projection and up 19 per cent over 2004.
Vietnam & World Economy