Auto imports increase HCM City’s revenue

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Officers of Hiep Phuoc Customs inspect imported cars. Photo: T.H

According to HCM City Customs Department, the city’s revenue has increased. From February 15 to 21, the department’s revenue rose by 29.93% to VND2,869.3 billion compared with the previous week.

As of February 21, the revenue saw year-on-year growth of 5.53% to VND17,674.2 billion, meeting 12.12% of the target.

The revenue of four out of 12 customs branches under the department went up compared to the same period in 2022. The revenue of Hiep Phuoc Seaport Customs Branch rose by 197.72% or VND3,357 billion; Zone 3rd Sai Gon Seaport Customs Branch was up 37.08% or VND929 billion.

The department said that the increase in revenue results from the import turnover of major items with a high tax rate. For example, 7,536 CBU cars were imported in January with a turnover of US$ 172.7 million, up 285.1% in volume and 194% in value, and tax amount of VND3,591 billion, up 184.73% year-on-year.

From January 1 to February 22, the department cleared 21,475 imported cars with a turnover of US$ 476.9 million and a tax amount of VND9,092 billion. Hiep Phuoc Customs Branch cleared 21,619 cars with a turnover of US$475.4 million and tax amount of VND9,074 billion.

In January, the department processed procedures for 434,767.4 tons of imported petroleum products with an import turnover of US$122 million, up 72.8% in volume and 348.8% in value compared to the same period in the previous year, and tax amount of VND936.3 billion.