Workshop: Improving the Business Environment through Tax Reforms

15:15 | 23/06/2016 Finance - Banking

A workshop themed “Improving the Business Environment through Tax Reforms” was held by the Ministry of Finance’s General Department of Taxation (GDT), in cooperation with the USAID Governance for Inclusive Growth (GIG) Program in Hanoi on June 21.

Workshop: Improving the Business Environment through Tax Reforms

This workshop aims to facilitate discussions on tax policy and administration in Vietnam, and to identify tax reforms that will improve Vietnam’s business environment.

Government Resolution 19 (19/2016/NQ-CP), dated  April 28, 2016, sets key measures for improving the business environment and enhancing national competitiveness. Resolution 19 aims to put Vietnam on par with the average performance of ASEAN’s top four countries in the implementation of tax procedures and tax compliance by 2020. 

Specific targets include:  90% of businesses use an online tax service; 65% of businesses register and make their tax payments online; and 80% of tax payers are satisfied with the services provided by their tax authorities.

Many laws and regulations have already been enacted to simplify tax policies and administration, including:  Law 71/2014/QH13, which amends and supplementsfive tax laws; Decree 91/2014/ND-CP, which revises four earlier decrees; and Circular 119/2014/TT-BTC, which revises seven earlier circulars.

However, the GDT is seeking solutions to further simplify tax procedures and reduce obstacles to compliance. This workshop on “Improving the Business Environment through Tax Reforms” is exploring remaining impediments, specifically issues relating to invoice, filing, payments, refunds, audit, and appeal in order to fully comply with Resolution 19.

Following this workshop, the GDT and the USAID GIG Program will jointly coordinate visits to the field to validate information collected from this workshop, and assess specific difficulties in complying with rules on value added tax, corporate income tax, and personal income tax.

In addition to tax reform, the Government of Vietnam and the USAID GIG Program are cooperating on a number of other reforms to improve Vietnam’s regulatory environment, its governance structures and systems of accountability, and opportunities to increase inclusive economic growth for all citizens in Vietnam./.


Source: VOVnews

Theo ven.vn