Central Laos customs zone expects income to rise
Central Laos customs zone expects income to rise
The Third Regional Customs Zone now expects to receive about 564 billion kip in income for the last six months of this fiscal year under an updated plan, adding up to around 1.21 trillion kip for the whole year, representing about 103.77 percent of planned revenue.
The zone covers Savannakhet, Khammuan and Borikhamxay provinces with income coming from customs collections and services fees on exported products in addition to imports of fuel and vehicle spare parts, construction materials, electronic products, food and drink along with fines, other taxes and fees.
“The 1,217 billion kip will include 755.64 billion kip from Savannakhet, 257.48 billion kip from Khammuan and 203.92 billion kip from Bolikhamxay,” Chief of the zone's Information Planning Administration Unit Mr Phetdara Keosaly reported yesterday.
Savannakhet's updated figure of 755.64 billion kip will equate to about 111.05 percent of the province's fiscal year plan, Khammuan's figure will cover around 99.22 percent of the projected figure and Bolikhamxay province will achieve about 87.56 percent of its plan.
The unit reported that under the initial plan, the zone expected to have a total income of about 1.17 trillon kip this fiscal year; that would have made up about 23.12 percent of the income plan for the customs sector in the Laos overall.
The 1.17 trillion kip would have represented a 22.84 percent increase on the previous fiscal year, the report said.
In the first six months of this fiscal year, the zone brought in more than 653.05 billion kip. That was enough to cover around 55.68 percent of the planned annual total.
“The 653 billion kip was about 231.6 billion kip ahead of the same period last fiscal year,” Mr Phetdara said.
The overall figure included 412.64 billion kip from Savannaket, 130.48 billion kip from Khammuan and 109.92 billion kip from Borikhamxay province.
Savannaket's 412.64 billion kip covered 60.64 percent of the initial fiscal year plan, representing a 64.15 percent increase from the same period last fiscal year.
Khammuan's figure was 50.28 percent of the whole year's initial plan and a 64.44 percent rise from the same period last year while Borikhamxay's was 47.2 percent of the plan and about 21.15 percent up in comparison to the same period last year.
Mr Phetdara said income in the first six months increased because of the large quantity of wood products exported, which generated income for the zone of about 93 billion kip, up 90 billion kip from last year.
Income from the import of vehicles and spare parts was up 147.59 billion kip, a 29.12 billion kip increase from last year. Service fees earned over 95 billion kip, which was about a 76.8 billion kip increase on the same period last year.
vientiane times
