Tuesday, November 21 2017

VietNamNews

Debt collection efforts needed

Update: January, 17/2014 - 09:15

Clients pay taxes in District 3, HCM City. Deputy Prime Minister Vu Van Ninh said increased efforts should be undertaken by those responsible for the taxation system to prevent fraudulent transfer pricing, limit tax refunds and hasten administrative reforms. — VNA/VNS Photo Thanh Vu

Ha Noi (VNS) — Deputy Prime Minister Vu Van Ninh has asked tax officials to continue designing policies that reduce the difficulties faced by businesses and promote growth in 2014.

Speaking at a conference on Tuesday to review the success of tax collections in 2013, Ninh said it is necessary to classify debts clearly and outline plans to collect and settle persistent debts.

He said increased efforts should be undertaken by those responsible for the taxation system to prevent fraudulent transfer pricing, limit tax refunds and hasten administrative reforms.

Efforts should also be undertaken to apply information technology in tax management and improve staff training, he noted.

Tax officials and organisations should also continue to encourage coordination with others and enhance dialogue with enterprises, he stressed.

According to Bui Van Nam, General Director of the General Department of Taxation, in 2014, efforts will be made to exceed the target for state budget collections by a minimum of 5 per cent, while intensifying tax inspections in at least 14.65 per cent of the total operating enterprises.

Efforts will also be undertaken to enhance the control of tax refunds in accordance with the law, especially in the case of value-added tax.

The tax department will also strive to provide access to an e-tax service for 90 per cent of business taxpayers to enable them to submit their declarations online, Nam added.

He said that negotiations for double taxation avoidance agreements with other countries and territories will also be stepped up. There will also be greater transparency in investments, equipment purchases and staff recruitment.

According to the General Department of Taxation, VND676.696 trillion (US$31.8 billion) was collected as tax in 2013, equivalent to 105 per cent of the target and 112.7 per cent higher than the tax collected in 2012.

Of the total tax, the tax collected from crude oil sales was VND120.436 trillion ($5.64 billion), while domestic tax collections were VND556.260 trillion ($26.144 billion), equivalent to 102 per cent of the target and 17.8 per cent higher from 2012's figure.

Forty-seven of the 63 localities nationwide accomplished their targets, while tax arrears collected after inspections amounted to nearly VND13.2 trillion ($602.4 million). The reduction in losses was estimated at VND11.4 trillion ($537.21 million), the department noted.

As of November 30, 2013, 52 per cent of all tax debts had been collected, the department added. A debt increase of over 30 per cent was seen in as many as 30 localities, while seven localities experienced a decline. — VNS



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