Luu Manh Tuong, Director of the Import-Export Tax Department under the General Department of Customs, said the tax collected in 2019 was 34 trillion VND higher than in 2018.

Free trade agreements between Vietnam and its partners, including the Republic of Korea, ASEAN and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), had helped improve Vietnam’s business climate.

The customs sector achieved the State budget revenue of about 348 trillion VND in 2019.

This result was also due to strong growth in trade that reached 510 billion USD last year, Tuong said.

Statistics showed that 105.16 billion USD of imports and exports were taxed, up 7.97 percent year-on-year. This figure included 5.8 billion USD from exports, down 1.8 percent, and 99.36 billion USD from imports, up 8.6 percent.

The largest impact on State tax collection was the Nghi Son Refinery and Petrochemical Plant.

The plant imported more than 7 million tonnes of crude oil worth 3.33 billion USD, up 58 percent in volume and 38 percent in value year on year. It paid 7.9 trillion VND (341.6 million USD) in import taxes, a year-on-year surge of 41 percent.

Imports of complete built-up (CBU) cars also contributed 2.91 billion USD in total, up 97.7 percent in value year on year.

The State collected total tax revenue of 38.2 trillion VND (1.6 billion USD) from the imports, up by 102.4 percent over the same period of 2018.

However, reduced import tariffs under FTA commitments had hit revenue collection.

The General Department of Customs forecasts this would continue to be a problem this year because more FTAs were coming into effect.

78 percent of enterprises satisfied with tax administrative reform

About 78 percent of surveyed enterprises showed their satisfaction with tax administrative reforms in 2019, up 3 percent compared to 2016.

WB, Japan help Vietnam improve taxation management

The World Bank (WB) and the State Bank of Vietnam on August 2 signed an agreement worth 4.2 million USD in non-refundable aid provided by the Japanese government to launch a taxation system modernisation project in Vietnam. 

Ability to pay taxes online a boon for Vietnam’s import-export businesses

Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department. 

Many effective firms paying high taxes

(BGO)- In recent years, a large number of enterprises and businesspersons in the northern province of Bac Giang have taken initiative in technology innovation and expansion of production scales gaining dramatically increased turnovers. In line with the success in business, many firms have been awarded for their proper fulfillment of tax liabilities. 

Budget revenue in 2019 exceeds 10 trillion VND mark

(BGO) - In 2019, thanks to strict control of revenue sources and actively handling tax arrears, the State budget collection in Bac Giang province has seen a strong breakthrough. The budget collection result has helped Bac Giang be present in the club of localities with tax revenue of 10 trillion VND (443.7 million USD).

Source: VNA