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.
Online support program for 2021 tax finalization Online support program for 2021 tax finalization
General Department of Taxation supports online 2021 tax finalization General Department of Taxation supports online 2021 tax finalization
General Department of Taxation holds an online conference to support tax finalization in 2023 General Department of Taxation holds an online conference to support tax finalization in 2023
Looking forward clear instructions in tax finalization in 2023

How do you evaluate the role of supporting taxpayers, creating conditions to support tax finalization for the business community and taxpayers this year?

- We highly appreciate the initiative and creativity of the Tax sector in communication and support for taxpayers in tax finalization in 2023, especially online programs supporting tax finalization the tax sector is offering. In addition to providing notes in tax finalization in 2023 on the mass media, the General Department of Taxation and local tax departments have organized direct meetings where businesses, taxpayers and State agencies could discuss issues related to compliance with policies and solutions to best perform tax work, helping State management agencies, businesses and taxpayers complete their tasks.

- In particular, the online support activities that the Tax sector has been implementing regularly show that the Tax agency has been active and proactive as well as taking full advantage of scientific and technological advances - the shortest way to interact with taxpayers, thereby promptly removing possible problems in the process of implementing tax laws in general and tax finalization in particular. The business community highly appreciates the proactiveness of the Tax sector, the interaction between the Tax agency and taxpayers as well as the diligence and dedication of tax officers in sharing information, supporting businesses and taxpayers in performing tax finalization in 2023.

As a representative agency of the business community, as for you, what are the most common contents businesses encounter in tax finalization?

- Businesses often encounter difficulties in calculating taxes, items related to taxes and calculation method, the inconsistent understanding of managers and managed entities. Therefore, the programs to support businesses in tax finalization are very meaningful so that taxpayers and tax managers have a common understanding, correct understanding, and right implementation? A number of difficulties that businesses and taxpayers reported and were answered by the Tax sector such as: loan interest costs when they are included in the expenses when calculating corporate income tax; are vacation payment costs and overtime costs in excess of the provisions of the Labor Code included in expenses when finalizing corporate income tax, or personal income tax?

What are your assessment about the current tax policy?

- The current tax policy has been working well. However, there needs to be interaction to remove bottlenecks, for example problems on transmission lines, how to calculate taxes, especially for new industries and businesses lines.

What recommendations do you have for the tax authority to achieve the best results for the 2023 tax finalization period?

- The business community as well as taxpayers hope that the Tax sector will continue to provide clear instructions. We have discussed the Tax sector and tax officers and received appropriate instructions. I believe that, with the determination and efforts of the Tax sector and the taxpayers, we can achieve the goals set out in tax work, including the task of tax finalization in this year and the following years. We recognize and believe in the inquiring of the Tax sector, especially the sympathy, sharing and support for businesses to focus on production and business activities, gain the highest profits, thereby making the highest contribution to the State budget. As for the business community, we are always ready to accompany management agencies, learn new policies to perform as best as possible in fulfilling tax obligations.

The business community is currently facing many difficulties; what policies do you propose to support them?

- As I said above, the business community is facing many difficulties about market as well as difficulties from other objective factors. Businesses, ministries and management agencies, are making efforts to overcome these difficulties, and management agencies should make more efforts in reforming administrative procedures, creating the best business investment environment for the business community and people to confidentially pour capital in production and business, especially in industries such as industry, commerce, and services... These are our country’s strengths. Moreover, Vietnam has a highly open and export-oriented economy, so we create good conditions for people to participate in this process.

- The authorities have been proactively reviewing legal documents, laws to make amendments and supplements if necessary. We have asked the business community must frankly report problems and difficulties in the production and business to business associations, VCCI and competent agencies to have appropriate solutions to meet the production and business development requirements of businesses.

Thank you Sir!

By Thu Hien (recorded)/ Huyen Trang

Related News

The Tax sector’s revenue collection reached 33% of current appropriation

The Tax sector’s revenue collection reached 33% of current appropriation

In the first quarter of the year, total revenue managed by Tax agency was estimated at VND490,196 billion, equal to 116.9% of the current appropriation in the first quarter, equivalent to 33% of the current appropriation, an increase of 10.9% over the same period in 2023
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.
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.
Urging issuance of e-invoices in petroleum retail

Urging issuance of e-invoices in petroleum retail

VCN - The Government, the Prime Minister, the Ministry of Finance and other agencies have issued many instructions to implement electronic invoices on every sale at petroleum retail stores. Besides the achieved results, this work still has difficulties. The tax sector has been taking drastic action to urge the coverage of e-invoices in the petroleum retail trading.

Latest News

Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - The practice of thrift and combating waste in the management and use of public investment is one of key tasks in the program of thrift practice and waste combat in 2024 of the Ministry of Finance.

More News

Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.
Foreign investors net sell in Vietnamese market, banking sector attracts interest

Foreign investors net sell in Vietnamese market, banking sector attracts interest

According to BSC, foreign investors sold a net total of VNĐ11.55 trillion across all three exchanges in the first three months of 2024, equivalent to 50.62 per cent of the total net selling value in 2023. The selling pressure came from active funds and ETFs, resulting in a continued net withdrawal state and exerting pressure on the market.
Banks record positive business indicators in Q1 2024

Banks record positive business indicators in Q1 2024

According to experts, the prosperity of the banking industry in the period came from many supporting factors, including favourable policies to credit growth.
The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

VCN- In the document sent to the Ministry of Planning and Investment (MPI) regarding the implementation of Resolution No. 01/NQ-CP in the field of state finance and budget in March 2024, the Ministry of Finance stated that it actively implemented projects to build and improve institutions, ensuring the balance of the state budget and stability in the financial market and prices.
IASB recommends Vietnam prepare infrastructure to apply IFRS

IASB recommends Vietnam prepare infrastructure to apply IFRS

VCN - Applying “International Financial Reporting Standards (IFRS) will help businesses improve the quality of financial reporting and enhance the quality of explanation, but there are still many difficulties in transformation.
Strong decentralization for ministries, branches and localities to manage and use electricity projects

Strong decentralization for ministries, branches and localities to manage and use electricity projects

VCN - Responding to petitions from voters in Lao Cai province related to problems in handing over public assets such as power grid projects to the electricity industry for management, the Ministry of Finance said that it has submitted to the Government to promulgate Decree No. 02. /2024/ND-CP on transferring power projects as public assets to Vietnam Electricity Group (EVN).
Savings interest rates begin rising amid slowing bank deposits

Savings interest rates begin rising amid slowing bank deposits

While some commercial banks continue lowering deposit interest rates, others are increasing the rates, particularly for term deposits of 12 months or longer.
Ministry of Finance conducts general verification of public assets

Ministry of Finance conducts general verification of public assets

VCN - The Ministry of Finance issued Decision No.798/QĐ-BTC on the plan for implementing Decision No.213/QĐ-TTg of the Prime Minister approving the scheme on general verification of public assets at agencies, organizations, and units as well as infrastructures that are invested and managed by the State.
Removing bottlenecks to develop the green bond market

Removing bottlenecks to develop the green bond market

VCN - Currently, there are still many bottlenecks for the development of the green finance market and green bonds. Therefore, solutions are needed to increase resources for businesses and the economy.
Read More

Your care

Latest Most read
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business re
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - According to the Ministry of Finance's report, as of the end of March, the total unallocated investment is VND25,654.7 billion, accounting for 3.9% of the target assigned by the Prime Minister.
Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore productio
Mobile Version