Customs sector collects 120 trillion VND for state budget

09:47 | 10/05/2019 Finance - Banking

The customs sector’s state budget collection exceeded 120 trillion VND (5.18 billion USD) by the end of April, up 25.44 percent from the same period last year.

customs sector collects 120 trillion vnd for state budget
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The General Department of Vietnam Customs said the amount accounted for 37 percent of the estimate for the whole year.

The outcome was attributed to a surge in import-export turnover which hit 156.81 billion USD, a year-on-year increase of 8 percent. Of which, export earnings reached 78.76 billion USD, up 5.8 percent, while import value was estimated at 78.05 billion USD, up 10.4 percent.

State budget collection in most of the cities and provinces’ customs departments ranged between 30-40 percent of their yearly plan.

The rate in Hai Phong city was 47.39 percent, HCM City 33.97 percent and Hanoi 31.78 percent.

Thanks to strong increase in imports of several projects, the customs departments in Binh Dinh, An Giang, Tay Ninh, Kien Giang and Khanh Hoa provinces recorded high tax collection in the four months, respectively accounting for 92.24 percent, 96.1 percent, 119.68 percent, 288.75 percent and 155.49 percent of the yearly target.

Theo VNA