Thanh Hoa Customs Department officials inspect import and export goods. Photo: Phong Nhan

Revenue from crude oil makes up 82.1%

According to Thanh Hoa Customs Department, motivated by drastic solutions of both facilitating trade and preventing budget losses, the unit has soon reached the revenue target for 2024. As of August 15, 2024, Thanh Hoa Customs Department collected more than VND13,895 billion, an increase of 29.9% year-on-year, rising 2.5% of the target assigned by the Prime Minister (VND13,550 billion).

Assessing the import-export situation and budget collection, Thanh Hoa Customs Department said that in the past seven months, the total trade at the unit reached US$6.797 billion or 91.6% year-on-year, however, the majority of Thanh Hoa Customs' state budget revenue was import turnover with US$5.316 billion, an increase of 8% year-on-year. Of which, crude oil import reached more than US$4.4 billion, an increase of 29% over the same period in 2023.

According to Thanh Hoa Customs Department, although crude oil prices fluctuated, the number of crude oil import shipments during the period increased by 4 shipments compared to the same period in 2023. This is the main factor leading to the increase in turnover compared to the same period in 2023. In addition, many items with major import turnover values ​​also increased compared to the same period last year such as: chemicals, production materials grew by 9%; coal grew by 31%; auto parts grew by 42%...

The import growth is the main factor contributing positively to the state budget revenue of Thanh Hoa Customs Department. Specifically, by the end of July 2024, the unit had completed procedures and accounted for VAT for 26 crude oil shipments imported through Nghi Son Seaport, the revenue from crude oil reached more than VND 10,910 billion, making up 82.1% of the total state budget revenue.

The state budget revenue from other imported goods (other than crude oil) reached more than VND 2,084 billion, accounting for 15.7% of the total state budget revenue. In particular, the revenue mainly comes from imported raw materials for production to serve investment projects in Nghi Son Economic Zone such as: VAS Nghi Son Group Joint Stock Company, Nghi Son 2 Electricity Company Limited...

According to Thanh Hoa Customs Department, the state budget revenue from exported goods accounts for a small proportion of the department’s total revenue, accordingly, only accounting for 2.2% (or VND289.25 billion), as of the end of July 2024.

Based on reviewing and evaluating each source of revenue and import plans of enterprises in the area and factors affecting revenue, Thanh Hoa Customs Department expects the state budget revenue in August to reach more than VND1,590 billion. Thus, by the end of August 2024, the state budget revenue is expected to reach VND14,875 billion, up 9.7% of the assigned target, up 37% over the same period in 2023.

Making more efforts to achieve high results

To achieve the above results, from the beginning of the year, Thanh Hoa Customs Department issued a plan to drastically implement solutions to facilitate trade, improve the effectiveness of state management, and prevent revenue loss. Along with that, the unit has strengthened the inspection of customs values, conducted consultations on cases of suspected declared values ​​compared to the value database. At the same time, the department has requested its units to regularly check and review professional systems to promptly detect violations; unified the work of classification, code determination and tax rate application to ensure the principle that one item has only one code according to the List of Vietnam's export and import goods.

In particular, the unit has promoted administrative procedure reform, modernized customs operations, shortened the time and cost of customs clearance of goods; improved the quality of civil servants; accompanied enterprises in promptly removing and resolving difficulties and problems related to import-export policies and mechanisms, proactively exchanged information with units inside and outside the industry, attracted and encouraged enterprises to carry out customs procedures at border customs branches under the Thanh Hoa Customs Department.

Despite reaching the target of state budget revenue early, Thanh Hoa Customs Department will continue to implement solutions, review revenue sources, and make more efforts to achieve the highest result. In addition, the department will continue to promote Customs – Business dialogue; facilitate businesses and attract new businesses to carry out customs procedures at the unit to increase revenue.