Drastic measures for tax procedures reform (14:10 31/07/2014)

HNP - According to Prime Minister Announcement 288/TB-VPCP on managing and reforming administrative procedures of tax, Ministry of Finance and General Tax Department are urged to have more drastic measures to reform, create favorable conditions for enterprises as well as people and raise competitiveness for sustainable development.

According to direction of the PM, Ministry of Finance and General Tax Department are asked to implement comprehensive measures for tax management, striving to complete revenue estimation and help enterprises, people handle their difficulties. More efforts are required to  promote transparency in tax management and tax policies building, along with reforming administrative procedures and fighting against corruption.

The PM also requested administrative reform for tax procedures, striving to reduce timeline for tax procedures to maximum 300 hours per year by the end of 2014 and to 171 hours per year by 2015, which is equal to that of the ASEAN-6.

Tax management will be modernized with further technology application, especially online tax return filing and tax payment. It is expected that by the end of 2014, online tax return will be filed by 95% enterprises.

Inspections and checks will be intensified to prevent tax losses and ensure effective transfer pricing.

Regarding collecting and paying compulsory insurances, the PM assigned Ministry of Finance in cooperation with Ministry of Labor, Invalids and Social Affairs, Ministry of Health, Viet Nam Social Insurance to review and amend procedures, striving to reduce time to do tax procedures by 50%.

By Mai Phuong

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