Ministry of Finance had a dialogue with Korean enterprises: Willing to listen and solve problems

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The conference

Speaking at the conference, Deputy Minister Vu Thi Mai emphasized that in recent years, the relationship between Vietnam and South Korea has made great progress. This is due to the development of domestic enterprise and important contributions by foreign investors, including the South Korean business community in Vietnam

"We really appreciate the efforts and determination of South Korean investors for your close cooperation and important contributions to Vietnam’s economic development. The signing of the FTA Vietnam – South Korea in 2015 was a specific step in the strategy of active integration, actively contributing to the development of the Vietnam- South Korea strategic partnership and contributing to the prosperity of the two countries," said Vu Thi Mai.

At the conference, the leaders of the Ministry of Finance also shared and implemented the Government's Resolution No. 19 / NQ-CP of 2016, 2017 and 2018, on major tasks and solutions to further improve the business environment, enhance national competitiveness over the past year and for the 2016-2020 period, especially in 2018. Vietnam’s Government always attaches great importance to the administrative reform, including tax and customs procedures to build an increasingly favorable business environment for enterprises, and facilitate the fulfillment of tax obligations with the state budget. The Ministry of Finance has been deploying many fields: institutional improvement, administrative reform and modernization to facilitate enterprises, including the South Korean business community in Vietnam.

Deputy Minister of Finance Vu Thi Mai. Photo TL.

The Ministry of Finance also issued circulars on tax and customs and assigned the General Department of Taxation and the General Department of Customs to review and develop specific action plans to reduce administrative procedures and the time for tax payment and the time for customs declaration for taxpayers and customs declarants, and to strongly apply IT to the tax and customs management.

The Deputy Minister gave examples of the results of in 2018, for the Administrative Procedure Compliance Costs Index 2018 (APCI 2018), in which the Taxation division ranked first among 8 groups of administrative procedures with the lowest compliance cost (VND 73.750; the average implementation time of enterprises for an administrative procedure assessed by the World Bank in the Doing Business 2018 report increased from 55.99 to 72.77 points; and Vietnam's Paying Taxes ranked 86th out of 190. Up to now, 99,96% of enterprises subject to tax administration have declared tax via internet. Vietnam has also launched the electronic tax payment service in 63 out of 63 provinces and cities, and continued to carry out services on electronic tax declaration, payment, tax refund, e-invoices and e-tax payment for land and individual household business

In the field of customs, the Customs sector has reviewed, cut, simplified 223 customs procedure and continued to implement electronic customs procedures. Currently, automated customs clearance system (VNACCS / VCIS) has been deployed in 100% of customs units nationwide with 100% of automated procedures and more than 99.65% of enterprises. The customs sector has also connected with airlines to grasp information about imported goods, piloted the information system and managed the export processing and manufacturing enterprises and deployed the tax payment via banks, etc. The General Department of Customs has also actively implemented many activities and electronized many procedures for the purpose of reducing customs administrative procedures, shortening the clearance time, thereby delivering goods to the partners in a timely manner and restricting the direct contact between Customs officers and enterprises and limiting negative acts.

However, the Deputy Minister also stressed that the tax and customs administrative procedures and policies should be improved regularly and updated promptly in accordance with the actual requirements of business and production. Thus, the application of regulations on policies and administrative procedures to the reality are unable to avoid difficulties and obstacles.

"The Ministry of Finance is always willing to listen to comments from enterprises to improve the policies and answer questions and problems of South Korean enterprises in order to remove difficulties and problems related to administrative procedures, tax and customs policies, to promote production and business activities and contribute to promoting the investment environment in Vietnam," the Ministry of Finance confirmed.

Ha Noi Tax Department answered about Tax policies for over 300 enterprises

Also, in order to promote the efficiency of the policies in reality, the Ministry of Finance would like to receive positive feedback from the business community in general as well as frank and constructive comments from the South Korean business community in Vietnam in particular on tax and customs policies and procedures in order to further reform and perfect towards more transparency, helping taxpayers carry out tax policies conveniently and quickly, contributing to encouraging investment, export and complying with international practices and international commitments for Vietnam's regional and world economic integration.