Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - The General Department of Customs hopes to collect 338trillion VND (14.6 billion USD) for the State budget this year, a year-on-yearincrease of 12.5 percent.
The target is built on the basis of 6.8 percent GDP growth, crude oilprice at 60 USD per barrel, total export turnover increasing by 7 percentand import turnover increasing by 9 percent.
The goal would be difficult to achieve as new free trade agreements(FTAs) would come into effect this year with many products having import taxrates cut to zero percent, according to the General Department ofCustoms.
To complete the State budget collection for the year, the customs sectorwould have to effectively implement proposed budget collection solutions.
TheGeneral Department of Customs was assigned a target of over 300 trillionVND for State budget revenue last year. The department claimed Statebudget revenue of the sector reached 348.7 trillion VND by the endof 2019, 116.05 percent of the set target and up 11 percent compared tothe same period in 2018.
This result was attributed to efforts to facilitate businesses and fightrevenue loss.
The customs department also issued detailed guidance documents in fields suchas classification, origin and tax debt management.
Lastyear, it strengthened measures to combat loss of revenue such as inspection andexamination of enterprises, as well as examination of cases of tax exemptionand reduction. It also boosted controls over the price of imports andexports.
These efforts resulted in saving some 4.6 trillion VND of lost revenue./.
The target is built on the basis of 6.8 percent GDP growth, crude oilprice at 60 USD per barrel, total export turnover increasing by 7 percentand import turnover increasing by 9 percent.
The goal would be difficult to achieve as new free trade agreements(FTAs) would come into effect this year with many products having import taxrates cut to zero percent, according to the General Department ofCustoms.
To complete the State budget collection for the year, the customs sectorwould have to effectively implement proposed budget collection solutions.
TheGeneral Department of Customs was assigned a target of over 300 trillionVND for State budget revenue last year. The department claimed Statebudget revenue of the sector reached 348.7 trillion VND by the endof 2019, 116.05 percent of the set target and up 11 percent compared tothe same period in 2018.
This result was attributed to efforts to facilitate businesses and fightrevenue loss.
The customs department also issued detailed guidance documents in fields suchas classification, origin and tax debt management.
Lastyear, it strengthened measures to combat loss of revenue such as inspection andexamination of enterprises, as well as examination of cases of tax exemptionand reduction. It also boosted controls over the price of imports andexports.
These efforts resulted in saving some 4.6 trillion VND of lost revenue./.
VNA
