09:02 | 01/09/2017 Economy- Society
(VEN) - The Hanoi Department of Taxation recently held a seminar with the Japan Business Association in Vietnam on tax policies and administrative procedures.
Japanese companies in Vietnam enjoy prestige for their quality products, efficient administration and adherence to the country’s laws. They have made significant contributions to the state budget in recent years, accounting for nearly 30 percent of total budget contributions by foreign-invested enterprises. Japanese companies paid more than VND4.8 trillion into the Hanoi budget in 2016, at over VND2.85 trillion in the first half of this year.
The Hanoi People’s Committee issued Decision 4137/QD-UBND dated July 7, 2017 approving a project on developing the city’s economy in the context of trade agreements between Vietnam and Japan by 2020. Accordingly, the city assigned tax departments and agencies to continue to reform administrative procedures and improve the quality of online tax declarations and electronic tax payment in order to create the most favorable conditions for these enterprises.
The government and the Ministry of Finance have also issued many guiding documents on taxation, aiming to reduce bureaucratic red tape and remove difficulties for taxpayers.
A seminar held on August 10 by the Hanoi Department of Taxation and the Japan Business Association in Vietnam aimed to provide information on new tax policies and administrative procedures to ensure the legitimate benefits of enterprises. City officials reported on progress in clearing up issues involving tax policies for anti-transfer pricing, contractor tax, tax rate, transfer of trademark, copyright and software, VAT, corporate income tax, personal income tax and special consumption tax.
The Hanoi Department of Taxation and Japanese companies have conducted periodic information exchanges on tax policies and administrative reforms in recent years. Feedback from representatives and members of the Japan Business Association in Vietnam has helped tax agencies access accurate information.
Recognizing administrative reform efforts by the Hanoi Department of Taxation, Hironori Funahashi, deputy chairman of the Japan Business Association in Vietnam, affirmed his organization would keep collecting feedback from enterprises about difficulties they face in terms of tax policies, as well as the attitudes of tax officials and other civil servants.