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Some Import and Export Goods Impacting Budget Revenue

(News Portal – Dong Nai) - According to statistics from the Dong Nai Customs Department, as of now, the total budget revenue from the customs sector in import and export has reached 17.8 trillion VND, fulfilling the assigned target for 2024.

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Goods Impacting Increased Budget Revenue, Including Various Types of Fuels 

Goods that have contributed to increasing budget revenue include common metals, other goods, and various types of fuels. These items have seen an increase in taxable import and export turnover in recent times. On the other hand, the export turnover of some product groups has declined, leading to a decrease in budget revenue, such as: motorcycles and components, accessories: decreased by nearly 53%; liquefied natural gas decreased by over 31%. ​

Additionally, the policy of reducing value-added tax (VAT) as per Decree No. 94/2023/ND-CP from the Government has caused a reduction of 560 billion VND in VAT revenue during the first 10 months of 2024, primarily in the following product groups: machinery, equipment, and spare parts; plastics and plastic products; chemicals; paper and cardboard; leather and leather products; wood and wood products. 

Author: Nam Huu

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