Business

State budget revenue from foreign trade tops 38% of target

More than 162.8 trillion VND (6.9 billion USD) in export and import taxes was collected for the state budget as of June 11, equivalent to 38.3% of this year’s target and down 18.1% from the same period of 2022.
State budget revenue from foreign trade tops 38% of target ảnh 1The textile-garment sector is a major contributor to Vietnam's export value. (Photo: VNA)
Hanoi (VNA) – More than 162.8 trillionVND (6.9 billion USD) in export and import taxes was collected for the state budgetas of June 11, equivalent to 38.3% of this year’s target and down 18.1% fromthe same period of 2022.

The statistics was released by the GeneralDepartment of Vietnam Customs on June 13.

For 2023, Vietnam Customs was assigned by theNational Assembly to collect 425 trillion VND for the state budget.

It said that as collecting revenue for the state budget is a focal task ofthe sector, it has taken concerted and strong measures to facilitate trade,improve management efficiency, and prevent tax losses.

In the time ahead, the general department willkeep working closely with relevant ministries and sectors to implement thenational single-window mechanism, along with the ASEAN single-window and tradefacilitation mechanisms to help achieve the set target./.
VNA
#state budget #export and import taxes #foreign trade #General Department of Vietnam Customs #National Assembly #single-window mechanism #ASEAN #updated Vietnam news #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Tax revenue reaches over 19.7 billion USD in Q1

Tax revenue reaches over 19.7 billion USD in Q1

The tax sector collected an estimated 462.92 trillion VND (19.71 billion USD) for the State budget in the first quarter of 2023, equivalent to 31.1% of the yearly estimate, the General Department of Taxation reported on April 3.
State budget revenues from export-import down 18% in five months

State budget revenues from export-import down 18% in five months

The State budget's revenues from export-import activities hit over 152.94 trillion VND (6.5 billion USD) in the first five months of this year, making up 36% of the estimate, down 18% year on year, the General Department of Vietnam Customs (GDVC) reported on June 7.

See more

Workers process agricultural products for export. (Photo: VNA)

Vietnam's small business growth soars to a four-year high

The survey findings released in Ho Chi Minh City on March 21 show that the growth momentum is expected to accelerate in 2025, with 92% of small businesses expecting to grow, the highest projection among 11 markets surveyed.

At the meeting between French Minister of Transport Philippe Tabarot and Vietnamese Minister of Construction Tran Hong Minh in Hanoi on March 21. (Photo: VNA)

French businesses show strong interest in Vietnam’s high-speed railway project: Minister

Minh also mentioned Vietnam’s ongoing construction of Long Thanh International Airport, which will have a total capacity of 100 million passengers per year upon completion. The airport is expected to become Vietnam’s largest and serve as an international gateway, offering new opportunities for global aviation businesses, including those from France, to expand their connections in Vietnam and ASEAN, he said.

The ground-breaking ceremony for the Hon La International Port on March 21 (Photo: VNA)

Quang Binh breaks ground on 90-million-USD international port

The port features comprehensive planning with modern warehouses, logistics areas, and technical facilities. Its strategic location in the sheltered Hon La bay, protected by Hon Co and Hon La islands, provides ideal natural depth for large vessels.

SMEs face many difficulties in accessing capital. (Photo: baokiemtoan.vn)

SMEs need support policies: insiders

With nearly one million businesses and around five million business households, the private sector contributes approximately 51% of the country's Gross Domestic Product (GDP) and over 30% to the State budget. However, most small and medium-sized enterprises (SMEs) face significant barriers in scaling up and enhancing their competitiveness.

Quang Ninh plans to develop four new industrial parks (Photo: VNA)

Quang Ninh to develop four new industrial parks

To attract investment for infrastructure development in these zones, the Quang Ninh provincial People's Committee is focusing on reviewing available land and making a list of projects to attract investors for technical infrastructure construction.

A Vietjet executive performs the ribbon-cutting ceremony for the Ho Chi Minh City - Bengaluru route launch. (Photo: baodautu.vn)

Vietnam’s leading airlines to open new routes to India

Vietnam's national flag carrier Vietnam Airlines plans to launch direct flights from Hanoi to Bengaluru and Hyderabad starting in May, while private carrier Vietjet has already commenced services connecting Ho Chi Minh City to these two major Indian hubs on March 18.

Inside a steel factory in northern Vietnam. Despite signs of recovery, the industry remains below 2021 production levels (Photo: VNA)

Steel sector faces challenges

Vietnam’s steel sector is grappling with mounting challenges, including a rising volume of Chinese steel exports, domestic oversupply and global trade barriers, experts warn.