Hanoi’s taxation agency shares policies with Japanese businesses
The Hanoi Taxation Department shared information about tax policies of Vietnam and Hanoi in particular with the Japanese firms operating in the capital city during a seminar on August 10.
Hanoi (VNA) – The Hanoi Taxation Department shared information about taxpolicies of Vietnam and Hanoi in particular with the Japanese firms operatingin the capital city during a seminar on August 10.
Speakingat the event, Deputy General Director of Taxation and Director of the HanoiTaxation Department Nguyen The Manh said the event aims to promptly deal witharising obstacles in the process of adopting tax policies targeting the Japaneseenterprises.
SeveralJapanese investors spoke of tax policy flaws involving transfer pricing,franchising, added value tax software, corporate and individual income tax, andspecial consumption tax.
Arepresentative from the Japan Business Association in Vietnam said the associationwill continue acquiring Japanese firms’ feedback on tax policies and workingbehaviours of tax officials and cadres to report to the Hanoi TaxationDepartment.
Inrecent years, the Japanese businesses’ revenue to the Hanoi’s State budget hasaccounted for nearly 30 percent of the total paid by foreign-invested ones. In2016, Japanese firms contributed 4,819 billion VND (209.5 million USD) to thecity’s budget. The figure rose to 2,854 billion VND (124 million USD) in thefirst half this year, up 23 percent annually.
Under a scheme on developing Hanoi’s economy in thecontext of carrying out Vietnam-Japan free trade agreements until 2020, thecity asked departments, agencies, and the taxation sector to reformadministrative procedures by improving the quality of tax filing and payment,making it easier for Japanese enterprises to do business in Hanoi.-VNA
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Illustrative image (Source: VNA) 
