About 5,400 foreigners are refunded VAT

About 5,400 foreigners are refunded VAT

VCN - According to HCM Customs Department, in April 2024, the department refunded VAT worth about VND120 billion for goods of foreigners on exit or the revenue of over VND8.3 billion.
Proposal to continue reducing VAT by 2% to support people and businesses

Proposal to continue reducing VAT by 2% to support people and businesses

The Government has just submitted a proposal to the National Assembly for consideration, allowing to the continued implementation of the policy of reducing the VAT rate by 2% in the last 6 months of 2024
Circular 83/2014/TT-BTC will be abolished from June 8

Circular 83/2014/TT-BTC will be abolished from June 8

VCN - Accordingly, Circular 25/2024/TT-BTC abolishes Circular 83/2014/TT-BTC.
Proposal to continue reducing VAT by 2% in the last  6 months of 2024

Proposal to continue reducing VAT by 2% in the last 6 months of 2024

VCN - Under the authorization of the Prime Minister, Minister of Finance Ho Duc Phoc has just submitted Report No. 177/TTr-CP to the National Assembly on the results of implementing the 2% VAT reduction according to Resolution No. 110/2023/QH15 November 2
Ho Chi Minh City Customs proposed to reduce VAT

Ho Chi Minh City Customs proposed to reduce VAT

VCN - Assessing the implementation of the policy of reducing the VAT rate by 2%, Ho Chi Minh City Customs Department said that in 2023, the amount of VAT reduced (corresponding to 2%) was implemented at the branches of the Ho Chi Minh City Customs Departm
3 recommendations of seafood businesses were promptly answered by the Ministry of Finance

3 recommendations of seafood businesses were promptly answered by the Ministry of Finance

VCN - Recommendations of seafood enterprises on declaring, calculating and paying Value Added Tax (VAT) at the commercial business stage for scrap and discarded products; Invoicing for returned goods; VAT refund, has been specifically answered by the Mini
Ho Chi Minh City Customs refunds nearly VND100 billion of VAT for foreigners

Ho Chi Minh City Customs refunds nearly VND100 billion of VAT for foreigners

VCN - In 2023, Ho Chi Minh City Customs Department refunded nearly VND 100 billion of value-added tax (VAT) on goods worth more than VND 1,268 billion for exit passengers.
The Tax sector strives to implement value-added tax refunds

The Tax sector strives to implement value-added tax refunds

VCN - According to data from the Declaration and Tax Accounting Department (General Department of Taxation), with the determination and urgency of tax authorities at all levels, the management of VAT refund has shown positive changes.
Unify and standardize tax refund dossier classification index to ensure accuracy

Unify and standardize tax refund dossier classification index to ensure accuracy

VCN - On September 18, the General Department of Taxation issued Decision No.1388/QD-TCT applying risk management in classifying tax refund dossier by using information technology applications.
VAT reduction requires a combination of long-term solutions to support growth

VAT reduction requires a combination of long-term solutions to support growth

VCN - Responding to the opinions of National Assembly delegates on reducing value added tax (VAT), Minister of Finance Ho Duc Phoc said that this is only one of solutions and is effective in the short term, so it still needs long-term solutions for econom
Reducing VAT along with tax and fee supports helps stimulate demand, reduce costs, and increase profits

Reducing VAT along with tax and fee supports helps stimulate demand, reduce costs, and increase profits

VCN - According to the program of the 6th Session, Minister of Finance Ho Duc Phoc, authorized by the Prime Minister, presented a Proposal on reducing value added tax (VAT), with a proposal to continue implementing this policy in the first half of 2024.
Enhancing the application of risk management in tax administration and preventing tax loss

Enhancing the application of risk management in tax administration and preventing tax loss

VCN - Recent developments show that some taxpayers, exploiting the leniency of mechanisms and policies, have established companies mainly for illegal activities such as buying and selling fake invoices.
Reducing VAT is a multi-target policy with a positive impact on the economy

Reducing VAT is a multi-target policy with a positive impact on the economy

VCN - Talking to Customs Magazine, economic expert Dinh Trong Thinh said that continuing to apply the policy of reducing VAT from 10% to 8% in the first six months of 2024 is a necessary solution to stimulate domestic consumption, lowering product prices,
VAT proposed to reduce in the first half of 2024

VAT proposed to reduce in the first half of 2024

VCN - According to the Ministry of Finance Covid-19 pandemic has hit hard all aspects of life, economy and society. In the period 2020-2023, the Government has provided big supportive policies.
Many proposals of seafood enterprises on VAT refund have been answered by the Ministry of Finance

Many proposals of seafood enterprises on VAT refund have been answered by the Ministry of Finance

VCN - According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Ministry of Finance has directed to handle or advise the handling authority related to the petitions of seafood enterprises.
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