Enhance the role of tax agents

VCN - In order for tax services to further promote their role of consultancy and support for enterprises and become the pro-longed arm of the Tax Agency, the Law on Tax Administration will be amended in the direction of raising the role of tax agents in enterprise’s support.
enhance the role of tax agents Manage e-commerce business tax: Have to amend lots of regulations for resolving to the very roots of problems
enhance the role of tax agents Tax exemption of import automobile parts: Encountered due to the specialized list of Ministries
enhance the role of tax agents Make a list of imported goods first, and then adjust time for tax exemption
enhance the role of tax agents
Tax agents are considered as “pro-longed arm” between Tax Agency and taxpayers. photo: Thuy Linh.

According to the current Law on Tax Administration, Tax agents only provide services related to tax procedures and are not allowed to provide other services such as accounting service. This raises a lot of shortcomings for enterprises wanting to use services such as accounting and tax declaration because they must hire 2 units at the same time (one provides tax service, the other provides accounting service). This is costly for enterprises, because enterprises which use these services are normally small and micro enterprises.

Regarding this issue, Mrs. Nguyen Thi Thuan, Director of Science Institute of Small and Medium Enterprise Management under the Vietnam Association of Small and Medium Enterprises said that one of the obstacles for why business households do not want to become enterprises is the complicated and costly accounting and taxation.

"Having not opened as an enterprise, business households do not have to think of hiring employees specialized in professional activities, tax, and accounting. But as an enterprise, if they recruit accountants who have just graduated from universities, those accountants may not work effectively but are paid a salary of around VND 5-7 million VND. If they still operate as business households, they shall operate as normal and shall be guided by tax officers for calculating tax payable every several months. As a result, small and micro enterprises typically want to hire a full service package including accounting and tax declaration," Mrs. Thuan shared.

According to the General Department of Taxation, the Ministry of Finance plans to set up a separate accounting regime for small and micro enterprises with a simple and easy accounting system. Consequently, those who have tax agent certificates can be sufficiently qualified to provide accounting services for small and micro enterprises. In order to ensure the development of the tax agent system and to facilitate and reduce costs for small and micro enterprises in compliance with accounting and tax law, it is necessary to expand the scope of services of tax agents.

In addition, to ensure the approved development target of the tax agent system in the Tax System Reform Plan 2011-2015 and the Tax Agent System Development Plan until 2020, which is to build the tax agent system to become a bridge between Tax Agency and tax payers, it is necessary to expand and diversify the services of the tax agents.

To do this, in the draft Law on Tax Administration (revised) the General Department of Taxation has amended and supplemented the function of organizations of tax procedure-related services with the objectives of: Expanding the scope of services by tax agents and specifying the scope of service provision towards adding content of tax consulting service and accounting service for small and micro enterprises.

Also, in order to simplify administrative procedures and create favourable conditions for tax agents, the draft Law has been amended towards only re-phrasing the regulation to "the procedures for registration of tax agent services" instead of “Application for certificates of eligibility for tax service business" as before.

However, this content is also causing controversy because some people say that it will affect accounting providers. According to Bui Thi Le Phuong, Director of Centech Finance and Tax finalization company, if the Law on Tax Administration adds functions to tax consultancy organizations, it will conflict with the many circulars issued by the Ministry of Finance on improving the quality of the accounting service and enhancing the integration of the accounting service in the region.

enhance the role of tax agents How to refund tax for authorized enterprise for auto part imports?

VCN- If an enterprise registers for participation in the Tax Incentive Program and authorizes another enterprise to ...

At present, the General Department of Taxation and the Ministry of Finance are continuing to collect comments on the contents of the draft Law on Tax Administration (revised), including contents related to the scope of services of tax agents.

By Thuy Linh/ Huyen Trang

Related News

Guidance for owner of e-commerce in providing information to tax authority

Guidance for owner of e-commerce in providing information to tax authority

VCN – General Department of Taxation requested its tax branches to guide the e-commerce organizations to provide information complied with the regulations in Decree No.91/2022/ND-CP.
Amending regulations on the time of tax declaration and payment on behalf of individuals receiving dividends and bonuses in form of securities

Amending regulations on the time of tax declaration and payment on behalf of individuals receiving dividends and bonuses in form of securities

VCN - To facilitate taxpayers, the Ministry of Finance has amended and supplemented regulations on declaring tax on behalf of individuals who receive dividends or receive bonuses in form of securities.
Regulating some articles of Law on Tax Administration to facilitate taxpayers

Regulating some articles of Law on Tax Administration to facilitate taxpayers

VCN – The Ministry of Finance has proposed to the Government to amend several articles of Decree No.126/2020/NĐ-CP stipulating many articles of Law of Tax Administration.
General Department of Taxation requests Netflix fulfill tax declaration and payment

General Department of Taxation requests Netflix fulfill tax declaration and payment

VCN – The Tax sector has implemented solutions to prevent tax loss and strengthening of tax inspection and audit is a key solution.

Latest News

Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially during the peak month of tax settlement.
“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

VCN - To complete the task from now until the end of 2024 and successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Effectively apply M&A to go long distance

Effectively apply M&A to go long distance

VCN - With advantages such as being cheaper than domestic capital, and accompanied by many factors such as technology, skills, management, market... foreign capital is a popular trend among businesses. Domestic enterprises seek through M&A activities to ensure sustainable development for the future.

More News

Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury proactively digitizes and transforms operating methods

VCN - Hanoi State Treasury always proactively transforms and reforms its operating methods with the motto of “taking customers as the center” and taking the satisfaction of organizations and individuals as a measured level of task completion by civil servants.
The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

VCN - The Ministry of Finance aims to continue to strongly improve the business environment, create a healthy competitive environment, rapidly increase the number of newly established businesses, and reduce the rate of businesses temporarily suspending operations; reduce input costs and legal compliance costs in investment and business activities, reduce policy risks, strengthen trust, create a fulcrum for recovery and improve business resilience.
Vietnam tackles obstacles to stock market upgrade

Vietnam tackles obstacles to stock market upgrade

Vietnam's ambition to elevate its stock market from "frontier" to "emerging" status by 2025 faces two key hurdles, including pre-trade margin requirements for foreign investors and foreign ownership ratios in certain sectors, said Deputy Director of the Securities Market Development Department under the State Securities Commission (SSC) Pham Thi Thuy Linh.
Looking forward clear instructions in tax finalization in 2023

Looking forward clear instructions in tax finalization in 2023

VCN - Mr. Hoang Quang Phong (photo), Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) discussed supporting taxpayers in tax finalization in 2023.
Proactive in dealing with exchange rate pressure

Proactive in dealing with exchange rate pressure

VCN - Recently, the State of Bank (SBV) withdrew VND 30,000 billion through the T-bills channel, contributing to reducing exchange rate pressure. This is just one of the moves of the monetary policy management agency to stabilize the foreign exchange market, contributing to supporting the macro economy as well as import-export business activities of enterprises.
Tax sector accompanies and supports tax finalization

Tax sector accompanies and supports tax finalization

VCN - In the first months of 2024, the Tax sector has deployed peak months to support tax finalization in many different forms, thereby solving many problems in settlement of corporate income tax and personal income tax for taxpayers.
Minister of Finance: Fairness and transparency for the insurance market

Minister of Finance: Fairness and transparency for the insurance market

VCN - According to Minister of Finance Ho Duc Phoc, the Ministry has strengthened inspections to correct violations in the insurance sector, demonstrating fairness and transparency in the market.
Vietnamese securities companies race to boost capital amid high market demand

Vietnamese securities companies race to boost capital amid high market demand

These companies understand the importance of boosting their capital to remain competitive and avoid falling behind their peers.
Central bank required to take urgent measures to stabilise gold market

Central bank required to take urgent measures to stabilise gold market

The Government has directed the State Bank of Vietnam (SBV) to urgently inspect and supervise to stabilise the gold market.
Read More

Your care

Latest Most read
Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially dur
“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

To successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Effectively apply M&A to go long distance

Effectively apply M&A to go long distance

VCN - Sharing at the conference "Consumer goods and distribution industry: M&A trends and investment strategies to raise capital for Vietnamese enterprises", organized by the Business Association of High Quality Vietnamese Goods and the Leading Business C
Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury always proactively transforms and reforms its operating methods with the motto of “taking customers as the center” and taking the satisfaction of organizations and individuals as a measured level of task completion by civil servants.
Mobile Version