Vietnam has taken drastic measures to reduce the time needed forcompanies to fill in tax forms and pay dues from 1,050 hours down to thecurrent 872 hours in five years.
Chairwoman of the Vietnam TaxConsultancy Association (VTCA), Nguyen Thi Cuc, said this in the centralcity of Da Nang on September 24 at a workshop to discuss a draft decreeto amend taxation policy.
Cuc, who is former Deputy DirectorGeneral of the General Department of Taxation, said Vietnamese taxationagencies, ministries and departments must reduce the hours taken tocomplete tax procedures from about 171, similar to the ASEAN 6(Thailand, Singapore, Malaysia, Indonesia, the Philippines and Brunei).
She said this would improve Vietnam's competitiveness.
"Vietnamranked 149th out of 189 nations in the Competitiveness Index and 185thin the Tax-Paying Index devised by the World Bank. The poor figurecalled for rapid change in administrative reforms and strong endeavoursfrom customs, tax and businesses," she said.
She added thattaxation procedure reform would boost transparency and competitivenessas well as create more favourable conditions for business.
Cucsaid there was still many obstructions in the tax system and muchoverlapping by taxation and public security agencies, adding thatdigital tax had yet to be widely embraced.
Director of legal,regulatory and competition matters under the USAID's Governance forInclusive Growth Programme Phan Vinh Quang, said the Government'sResolution 19 and the Finance Ministry's circular 119 (119/2014/TT-BTC)had a good impact on boosting the competitiveness for businesses.
"Asurvey of 400 businesses showed that the Finance Ministry's circular119 helped enterprises save 3 trillion VND (143 million USD) bystreamlining administrative procedures and reducing tax barriers," Quangsaid.
"But Resolution 19, which will reduce the time tocomplete and pay tax each year down to 171 hours, would save 11 trillionVND (524 million USD)," he added. He said the World Bank suggestedVietnam should promote e-tax declarations, simplify procedures andencourage businesses to self-declare.-VNA
Chairwoman of the Vietnam TaxConsultancy Association (VTCA), Nguyen Thi Cuc, said this in the centralcity of Da Nang on September 24 at a workshop to discuss a draft decreeto amend taxation policy.
Cuc, who is former Deputy DirectorGeneral of the General Department of Taxation, said Vietnamese taxationagencies, ministries and departments must reduce the hours taken tocomplete tax procedures from about 171, similar to the ASEAN 6(Thailand, Singapore, Malaysia, Indonesia, the Philippines and Brunei).
She said this would improve Vietnam's competitiveness.
"Vietnamranked 149th out of 189 nations in the Competitiveness Index and 185thin the Tax-Paying Index devised by the World Bank. The poor figurecalled for rapid change in administrative reforms and strong endeavoursfrom customs, tax and businesses," she said.
She added thattaxation procedure reform would boost transparency and competitivenessas well as create more favourable conditions for business.
Cucsaid there was still many obstructions in the tax system and muchoverlapping by taxation and public security agencies, adding thatdigital tax had yet to be widely embraced.
Director of legal,regulatory and competition matters under the USAID's Governance forInclusive Growth Programme Phan Vinh Quang, said the Government'sResolution 19 and the Finance Ministry's circular 119 (119/2014/TT-BTC)had a good impact on boosting the competitiveness for businesses.
"Asurvey of 400 businesses showed that the Finance Ministry's circular119 helped enterprises save 3 trillion VND (143 million USD) bystreamlining administrative procedures and reducing tax barriers," Quangsaid.
"But Resolution 19, which will reduce the time tocomplete and pay tax each year down to 171 hours, would save 11 trillionVND (524 million USD)," he added. He said the World Bank suggestedVietnam should promote e-tax declarations, simplify procedures andencourage businesses to self-declare.-VNA
