Customs sector targets US$13.6b for State budget next year
Customs sector targets US$13.6b for State budget next year
A finance ministry official on December 24 asked the customs sector to exert every effort to surpass the target of VND315 trillion (US$13.6 billion) in State budget collection in 2021.
Deputy Minister of Finance Vu Thi Mai told a teleconference reviewing the sector’s performance in 2020 and launching tasks for next year that customs agencies need to have good management, boost post-customs clearance inspections and examinations to prevent losses, and step up tax arrears recovery in line with legal regulations.
They also need to press ahead with administrative reforms, customs modernisation, and trade facilitation to cut down the time and cost for customs clearance, as requested by the Government, she said, and must perform better in combating smuggling and trade fraud.
In particular, Mai added, the sector has to take stronger action regarding high-risk commodities like gasoline, minerals, goods subject to high tariffs, polluting products, imported alcohol and cigarettes, and goods temporarily imported for re-export.
The customs sector has faced an array of challenges in efforts to reach the targets set for this year. Measures to contain COVID-19 around the world, such as border shutdowns, the suspension of commercial flights, quarantining, and lockdowns, have negatively affected trade and disrupted global supply chains, posing considerable challenges to many countries, including Viet Nam.
Facing that fact, the General Department of Viet Nam Customs has reportedly introduced solutions to further facilitate trade and prevent losses in budget collection.
General Director of the authority Nguyen Van Can said that as of December 15, his agency had handled procedures for exports and imports totalling $515.27 billion, up 4.5 per cent year-on-year. This includes $267.22 billion in exports and $248.04 billion in imports, up 6.1 per cent and 2.7 per cent, respectively.
Despite the difficulties and challenges, the sector had collected over VND304.33 trillion for the State budget as of December 21, and the full-year figure is estimated at VND315 trillion, or 93.2 per cent of the target.
