70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Cars imports, crude oil help Vietnam customs beat 2019 revenue target
Ngoc Mai 14:18, 2019/12/19
In the January – November period, Vietnam imported 135,230 cars worth US$2.91 billion, up 100.4% in quantity and 97.7% in value year-on-year.

Hefty imports of cars and crude oil into Vietnam helped customs authorities collect over VND335.6 trillion (US$14.48 billion) in taxes as of December 17, exceeding the target of VND315.5 trillion (US$13.61 billion) set by the Ministry of Finance and up 11.6% year-on-year, according to the General Department of Vietnam Customs (GDVC).

 Overview of the conference. Source: GDVC. 

In the January – November period, Vietnam imported 135,230 cars worth US$2.91 billion, up 100.4% in volume and 97.7% in value year-on-year, leading to customs revenue of VND38.2 trillion (US$1.64 billion), up VND19.32 trillion(US$833.77 million) or 102.4% year-on-year.

Meanwhile, nearly 7.07 million tons of crude oil were imported in the 11-month period worth US$3.33 billion, up 58% in volume and 38% in value year-on-year, resulting in customs revenue of VND7.87 trillion (US$339.64 million), up 41% year-on-year.

Customs revenue from other goods also increased VND14.72 trillion (US$635.26 million), up 5.8% year-on-year, stated the GDVC.

According to the GDVC, such positive results were thanks to Vietnam’s actively participation in multilateral and bilateral cooperation with regional and international partners.

The signing and enforcement of a number of free trade agreements, including the Vietnam – South Korea FTA (VKFTA), the ASEAN – South Korea FTA (AKFTA), the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP), have created a positive impact on Vietnam's business environment, supporting local enterprises to expand investment and trade activities, said the GDVC.

Additionally, as of November 30, revenue gained from measures to prevent losses to the state budget was estimated at over VND3.88 trillion (US$167.44 million), including VND992 billion (US$42.81 million) from resolving tax arrears, VND1.8 trillion (US$77.67 million) from post-customs clearance, VND481 billion (US$20.75 million) from price consulting, VND448.3 billion (US$19.35 million) from anti-smuggling, and VND167.1 billion (US$7.21 million) from inspections.

TAG: Vietnam crude oil customs imported cars revenue anti-smuggling FTA South Korea ASEAN CPTPP integration
Other news
12:31, 2024/07/07
Hanoi district to turn Hoang Cau Lake into culinary hub
Once rehabilitated, the Hoang Cau Lake area is expected to become an attractive new destination for both tourists and local residents, contributing to the city's nighttime economy.
20:43, 2024/07/03
Hanoi welcomes investment from China’s Greater Bay Area
The strong and friendly relationship between the two countries makes Chinese enterprises, particularly those in the Greater Bay Area, confident about investing in Vietnam.
17:14, 2024/07/02
PM urges South Korea to further open market for Vietnamese goods
Both sides agreed to intensify cultural exchanges, tourism cooperation, and local interactions so as to increase mutual understanding and lay the foundations for sustainable development of relations.
15:33, 2024/07/01
PM urges major South Korean conglomerates to explore new horizon of cooperation
The Government leader called on South Korean corporations to support Vietnam with financial resources, infrastructure development, institutional and policy improvements, quality human resource training, and smart governance.
13:13, 2024/06/29
Vietnamese economy set for strong growth in latter half of 2024: HSBC
Vietnam remains on the path of recovery driven by the turnaround in the global electronics cycle.
12:48, 2024/06/29
Vietnam's GDP growth expands by 6.42% in H1
The economic growth rate of 6.93% in the second quarter is the second highest in the past five years.