Customs budget collection reaches US$12.14 billion in 11 months

14:48 | 10/12/2018 Finance - Banking

The customs sector collected over VND284.2 trillion (US$12.14 billion) in taxes as of November 30, a year-on-year rise of 7.27%.

customs budget collection reaches us 1214 billion in 11 months
The customs sector collects over roughly US$12.14 billion in taxes as of November 30

The figures were revealed by the General Department of Vietnam Customs at a press conference in Hanoi on November 5.

The outcomes were attributed to the surge in import-export turnover which hit US$439.96 billion, up 13.3% against the same period last year.

Of which, the export earnings reached US$223.76 billion USD, up 14.5% year-on-year. Meanwhile, the import value was US$216.2 billion, a year-on-year rise of 12.1%.

As of November 30, 2018, the customs sector collected and handled tax arrears worth more than VND1.4 trillion (US$59.8 million).

The department has signed cooperation agreements with 39 banks, including 24 which are piloting e-tax payment systems.

As a result, by the end of November 2018, the customs sector collected over VND269.9 trillion (US$11.5 billion) of taxes through the banking system.

Le Manh Hung, Deputy Director of the Foreign Trade Agency under the General Department of Vietnam Customs, revealed that 3,235 businesses have so far conducted e-tax payments.

The implementation of e-tax payment systems is to supplement current payment channels to facilitate enterprises making payments to the State budget, as well as to support enterprises to open more accounts at foreign banks and large businesses, he added.

Theo NDO/VNA