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Business arrears set to be dealt with accordingly

Update: March, 03/2012 - 08:56

HA NOI — The Finance Ministry has issued Circular 24/2012/BTC-TT on the amendment to proposed procedures on arrears settlement for export-import businesses.

Taking effect from April 15, the circular covers arrears such as taxes due to be collected and penalties for overdue payments.

Under the circular, businesses have to send documents on their proposal to settle arrears to the local customs departments.

Criteria on possible exemption for paying arrears includes changes in tax policies and uncertainty in tax calculation guiding documents. Local customs departments will examine and respond to businesses applying for exceptions within 10 days.-VNS

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