Tuesday, October 17 2017

VietNamNews

Petrol pump seals increase tax collection

Update: April, 01/2017 - 09:37
Petrol pumps in all stations nationwide will carry stamped seals by the end of this month as a measure to prevent tax losses and limit fraud, the General Department of Taxation announced yesterday. — Photo thoibaotaichinhvietnam.vn

HÀ NỘI — Petrol pumps in all stations nationwide will carry stamped seals by the end of this month as a measure to prevent tax losses and limit fraud, the General Department of Taxation announced yesterday.

Tax departments in 46 provinces and cities nationwide have completed the stamping of pumps, and 12 other localities are in the process of doing so.

Only five localities, for various reasons, were yet to start implementing this measure, the department said at a meeting held in Hà Nội.

Nguyễn Văn Thủy, Deputy Director of Large Enterprise Department under the General Department of Taxation, said the stamping plan has significantly improved petroleum management on a national scale and should apply nationwide in the shortest possible time.

Some petroleum dealers with large market shares, like the Việt Nam National Petroleum Group (Petrolimex) and the Military Petroleum Corporation have supported this measure as it does not have a negative impact on their operations.

Besides, it helps increase revenues to the State Budget, creates a healthy business environment for petrol traders, and protects the rights of consumers.

In September 2016, the Minister of Finance sent a written request to tax authorities in provinces and cities to create a management scheme for petrol business operations, basically by supervising pumps at local petrol stations.

Following this, joint teams comprising officials from different agencies were organised to stamp seals on petrol pumps nationwide.

The seals have been prepared and managed by the Directorate for Standards, Metrology and Quality. Local tax departments will monitor sales at the pump, opening and closing the seals at regular intervals.

Any discrepancy found in tax declarations made by traders and supplier invoices will attract sanctions and due taxes collected.

The General Department of Taxation estimates that after the new measure became operational, the collection of environmental protection tax levied on oil and gas consumption increased by 10 per cent.

In Quảng Ninh, the northern province where all pumps were stamped and sealed by November 2016, the monthly average fuel consumption and environmental protection tax collected have risen by approximately 15 per cent. A corresponding increase of 14 per cent was seen in Thái Bình Province. In Nghệ An Province, where the plan began implementation in June 2015 and was completed by November the same year, the increase was 20 per cent.

The General Department of Taxation said it would continue to direct tax departments of cities and provinces to promptly advise and guide provincial authorities in implementing the scheme, and at the same time, standardise and synchronise evaluation criteria to accurately assess the results of the campaign. — VNS

 

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