Binh Duong Customs’ revenue reaches VND8,836 billion

By the end of Aug 2018, Binh Duong Customs Department collected VND8,836 billion of budget, up 12% over the same period of 2017, reaching 68.5% of target assigned by Ministry of Finance, reaching over 65% of target assigned by General Department of Customs. According to evaluation of Binh Duong Customs, in 2018, the department encountered many difficulties and challenges in collecting duties, when many items’ import tax rate to reduced by 0%, due to the implementation of FTAs commitments. In addition, since the beginning of the year, the import of rubber tires for automobiles has fallen sharply, also affecting the budget revenue. As a result, the import value of steel products decreased sharply; so far revenue of this product type has reachedVND785 billion, down about VND407 billion compared with the same period last year.

In spite of the abovementioned impacts, total revenue achieved satisfactory results. Since at the beginning of the year, the department has developed effective solutions to raise revenue, prevent losses, good exploitation of new revenue sources; created favorable conditions for businesses in carrying out tax payment procedures. Binh Duong Customs signed a co-coordinating regulation with 27 banks in the province, of which 13 banks cooperated to collect tax online and carry out 24/7 customs clearance. Tax revenue through banks now exceeds 96% of total revenue.

In order to create favorable conditions for enterprises, in the coming time, Binh Duong Customs Department will continue to speed up online tax payment through banks, ensuring enterprises are able to pay taxes all the time, everywhere and by all means connected with internet, thereby reducing the time for tax payment, goods clearance for businesses.

Reported by H.A – Translated by Ngoc Huynh

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