Khammuan checkpoint eyes 76.8 billion kip revenue collection
Khammuan checkpoint eyes 76.8 billion kip revenue collection
Khammuan province's Naphao International Customs Checkpoint, a bordering gateway to Vietnam, is expected to earn 76.8 billion kip in customs duty collection for the fiscal year 2015-16.
According to the plan set by local authorities of the province, the revenue from exports will be around 46.8 billion kip while duty on imports should reach 30 billion kip.
The checkpoint office recently summarised the figures for the last fiscal year, which came to more than 56 billion kip.
Head of the checkpoint office, Mr Phoumeuang Keochanthala, told local media recently that the 2014-15 plan aimed to collect a total of 120 billion kip but was able to only reach 47.2 percent of the plan, which came to over 56 billion kip.
He said that more than 50 companies had been given a priority for customs exemption, which amounted to 95.6 billion kip, making it impossible to reach the plan.
“Another reason is that the administration system is not yet properly installed because construction of the office is under way,” Mr Phoumeuang said.
He also added that a decrease of 55.77 percent in fuel imports and a drop of 82.55 percent in vehicle imports compared to the last fiscal year, were other reasons for the shortfall in revenue collection.
Accordin g to Mr Phoumeuang, preparations for Asean Economic Community integration by the end of this year are also underway in terms of enhancing capacity building for technical personnel to ensure the provision of services at the checkpoint is timely and meets the demands of importers and exporters.
