With budget revenue reaching VND 8,787.11 billion, Ha Tinh Provincial Customs Department completed 80.11% of the assigned estimate in 2023 and decreased by 5% compared to the same period in 2022.

In 2023, the Ha Tinh Provincial Customs Department was assigned by the Ministry of Finance and the Provincial People's Council to collect a budget of VND 10,968 billion. As of December 31, the unit collected VND 8,787.11 billion, reaching 80.11% of the estimate assigned by the Ministry of Finance and the Provincial People's Council, down 5% compared to the same period in 2022 (the same period reached more than VND 9,248 billion).

Vung Ang Port Customs Branch supports businesses in opening tax declarations

Of which: Vung Ang Port Customs Branch collected 8,220.5 billion VND; Cau Treo International Border Gate Customs Branch collected 542.84 billion VND; Xuan Hai Port Customs Branch collected 23.65 billion VND; Professional Department collected 127.67 million VND.

The province's import-export tax collection decreased compared to the same period in 2022 and did not meet the assigned estimate due to many reasons. Accordingly, the difficult world economic situation has affected import-export activities in the province. Up to now, Vietnam has participated in most of the Free Trade Agreements, so the tariff reduction roadmap has had a major impact on the state budget revenue. In 2023, the Government reduced VAT from 10% to 8% for a number of groups of goods and services according to Resolution No. 101/2023/QH15, which also reduced the state budget revenue of the Ha Tinh Provincial Customs Department by more than VND 184 billion.

Import and export activities through Vung Ang port (Ky Anh town)

In addition, Ha Tinh's import-export tax revenue mainly comes from Formosa Ha Tinh Iron and Steel Corporation (currently accounting for over 75% of the total state budget revenue); fluctuations in the company's import-export process have greatly affected the state budget revenue target of the whole province.

PV