Customs revenues decreased by 1,000 billion vnd of imported automobiles

	Hai Phong Customs strives to achieve new budget record of nearly 50,000 billion VND
	Customs revenues gain nearly 80 billion VND from handling of violations
	Customs revenues exceed 55% of target

Bentley Mulsanne Speed 2016 attracts tax of nearly 13 billion vnd at Hai Phong port.

According to the General Department of Vietnam Customs, in July, Customs revenues reached 21,864 billion vnd, a decrease of 3,270 billion vnd, or 13% lower than that in June.

The reason for this significant decline of Customs revenues derived from a drop in import and export value and tax turnover compared to June, especially a decrease of 10.6% of the trade value of taxable imports which resulted in a significant decline because 97% of revenues came from imported goods.

Notably, taxable imported automobiles in July were 10,586 units, an increase of 34.8% compared to June, but the value was only $US 200 million, a decrease of 3.5% compared to May 6. The trade value of taxable automobiles of less than 9 seats fell by 28.4% compared to June due to an increase in the special consumption tax rate from July 1 for vehicles with large cylinder capacity, which made Customs revenue fall by 1,000 billion vnd because the revenue special consumption tax accounted for 85% of total revenues from automobiles.

Imported gasoline in July reached 685 thousand tons, equivalent to 73% of the import volume in June, the taxable trade value reached 292 million vnd, equivalent to 68% of imports, leading to a fall in tax revenues in June of 700 billion vnd. The iron and steel imports in July reached 555 million vnd, a decrease of 18.7% compared to that in June, reducing revenues by 350 billion vnd.

Thus, for three groups of goods above, Customs revenues fell by approximately 2,050 billion vnd. In addition, a number of other groups also declined in July, such as ores and minerals (-33%), chemical products (-15%), pharmaceuticals (19%), household electrical goods and components (-21%), wood and wooden products (-21%), papers (-21%), etc.

Problems in import procedures for used Lexus cars VCN- An used motor vehicle does not easily meet the requirements for legal import into Vietnam, making ...

Generally, by the end of July, Customs revenues reached 150,734 billion vnd, equivalent to 55.8% of the estimate, an increase of 2,666 billion vnd (1.8%) compared to the same period in 2015 (148,068 billion vnd), an increase of 1,9% of import and export value growth (1.9%).