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  • News
  • News in Vietnam
  • 28 October 2021

Quang Ngai: Customs races to collect budget revenue

Although the revenue in the first nine months of the year increased by 20% over the same period, the budget collection in Quang Ngai province has appeared an apparent decrease due to the impact of the 4th Covid-19 epidemic. Quang Ngai Tax Department focuses resources to support businesses to overcome difficulties and race to collect budget in the sprint.

Nine months, revenue reached 83% of the estimate.

Mr. Nguyen Van Tiep: Deputy Director of Quang Ngai Tax Department, shared that in the first nine months of 2021, the tax department’s state budget revenue reached 9,130 billion VND, reaching 83% of the central estimate, reaching 69.9% of assessments assigned by the province, a growth of 20.9% (compared to the same period in 2020), which Dung Quat Oil Refinery has paid 4,549 billion VND, reaching 91% of the provincial estimate, an increase of 39.5%. The remaining revenue was 4,581 billion VND, which got 76.3% of the central estimate and reached 56.9% of the local estimate, up 6.7%.

Notably, the import volume of iron and steel of all kinds in 9 months of 2021 was estimated at 9.8 million tons, down 4.6 and worth US$8.8 billion, up 45.7% over the same period last year.

It is estimated that by the end of September 2021, imports of complete CBU cars of all kinds will reach 112 thousand units, worth 2.51 billion USD, increase 67.9% in volume and 69% in value over the same period last year.

Regarding the critical tasks in the fourth quarter, the General Department of Customs focused on functions, specifically, proactively implementing synchronously and drastically solutions to ensure the completion and over-fulfillment of the estimated targets. Budget revenue for the whole year 2021 is 315,000 billion VND.

Accordingly, the Customs sector strives to synchronously implement trade facilitation measures in association with measures to prevent budget revenue loss, aiming to collect 335 trillion VND, exceeding the estimated target of 20 trillion VND for the whole year. Community, contributing to ensuring the national financial potential to serve the implementation of socio-economic development goals and tasks, resources for the prevention and control of the Covid-19 epidemic. In addition, the Customs sector continues to strengthen and improve the efficiency of international cooperation, especially in anti-smuggling.

Budget revenue plummeted due to the epidemic.

Commenting on the state of budget revenue in the last months of the year, Mr. Nguyen Van Tiep assessed that the Covid-19 epidemic had been complicated, especially from August 2021 to now. As a result, many businesses in the province’s industrial zones had to stop operating due to the appearance of many Covid-19 cases. Essential products such as gasoline, beer, etc., tend to reduce production and consumption. It is expected that the revenue of the remaining months of 2021 will decrease sharply compared to the first seven months of 2021. This is reflected in the payment in August 2021, which is only 68% compared to the average of the first seven months of the year.

(Source: thoibaotaichinhvietnam)