HCMC customs unlikely to meet tariff collection target

HCMC – The full-year target for import-export tax revenue, VND102.5 trillion (US$4.5 billion), has proven to be an impossible mission for the HCMC Department of Customs as it had collected only VND99.7 trillion as of on December 29.

The figure is expected to reach VND100.7 trillion by 4:30 p.m. on December 30, said Nguyen Quoc Toan, deputy head of the department’s import-export tax division.

The Ministry of Finance and the department have made efforts to boost tax collections such as requesting customs officers to work on weekends and encouraging enterprises to pay taxes earlier than due dates.

Realizing this year’s tax collection target is now a tall order for the department as the goal is much higher than the objective and result of last year, which were VND90 trillion and VND93.93 trillion respectively.

Tax collections have become unpredictable over the past year due to choppy export and import activities.

Import-export tax revenue stayed at VND29.45 trillion by late April, less than 30% of the year’s target, before it grew strongly to VND74 trillion by end-September, 72.2% of the target for 2016, and fell significantly the next month.

Source The Saigon Times

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