Customs revenues increased 24.9 percent until July of this year – Hoy 24

The Kingdom General Treasury (TGR) reported that net customs revenue amounted to more than AED48.88 billion in the first seven months of this year, an increase of 24.9 percent compared to the same period last year.

The Treasury clarified, in its last monthly bulletin of public financial statistics for the month of July 2022, that these revenues, which include customs duties, value added tax (TVA) on imports and internal consumption tax (TIC) on energy products , refunds, exemptions and recovered taxes are taken into account, amounting to 173 million dirhams.

As for the details, the same source indicated that the net income from customs duties amounted to AED7.9 billion, an increase of 23.4 percent compared to the end of July 2021.

As for the net income from the value added tax on imports, it amounted to 31.53 billion dirhams, an improvement of 33.9 percent, while the income from the value added tax on energy products increased by 2, 8 percent to AED9.45 billion, taking into account Refunds and tax exemptions worth AED137 million.

On the other hand, net customs revenue rose 25.2 percent to AED49.05 billion.