Saturday, January 25 2020


Firms, officials talk about tax regulations

Update: June, 30/2015 - 09:58
A resident submits tax documents at the HCM City Taxation Department . — Photo
HCM CITY (VNS ) — Business representatives met with customs and taxation officials yesterday in HCM City to resolve longstanding concerns about tax refunds and customs regulations.

A representative from Thanh Cong Textile, Garment, Investment and Trade Joint-Stock Company, for example, said that the Ministry of Finance had released regulations on tax refunds that had contradicted earlier rules.

A representative of the city's Taxation Department told the business people at the meeting that the Ministry of Finance had corrected the discrepancy.

He said that inspections would be carried out on any company that violates the law.

The remaining companies would receive tax refunds first, and inspections would occur later.

A representative from Hoa Sang Refrigerator Industry Company wanted to know about the value of official letters from the Finance Ministry to the general departments of Taxation and Customs.

"The letters don't have legal value but they guide enterprises and State offices to understand and enforce laws in the right way," a Customs Department official said.

He said that in July the city would organise a meeting with enterprises and customs officials. Enterprises would be able to submit questionable legal documents and ask for adjustments.

The Hoa Sang representative complained that the Ministry of Finance issued too many circulars, and that many of them were effective for only a short period.

"It's true and we have already reported this to the Ministry of Finance because circulars expire within two years. This is a hard time for the economy and the Ministry would like to support enterprises as soon as possible," the Customs official said.

A representative from the Riken Joint Venture company said they wanted to have their shares in US dollars received in 2006 to be valued at the current exchange rate.

A representative of the Taxation Department said that it could not be done because foreign partners could only contribute shares in Vietnamese dong.

Officials from Futsaco Viet Nam, which has construction projects in Laos and Cambodia, said they wanted to know about the necessary papers for bringing imported and Vietnamese raw materials to Laos and Cambodia.

A Customs representative said that if the company bought Vietnamese goods, they could export and if they buy imported commodities, they can "temporarily import and re-export" under regulations.

At the meeting, the Taxation Department also introduced the electronic tax payment system, which can help enterprises save time and money. — VNS

Send Us Your Comments:

See also: