MORE TAX AND CUSTOMS REFORMS URGED

The Ministry of Finance was urged to make greater efforts in tax and customs reforms which would help enhance competitiveness for enterprises in the context of rapid integration, attendees heard at a workshop on Tuesday.

Nguyễn Viết Lợi, Director of the Institute of Strategy and Policy on Finance, said at the workshop about tax policies to support enterprises and promote integration held by Tạp chí Tài Chính (Finance Magazine) that it was necessary to hasten simplification of administrative procedures and promote the application of information and technology (IT) in tax and customs management.

The Ministry of Finance began implementing reforms in 2014 with a focus on simplifying administrative procedures, removing unnecessary business prerequisites and providing fee exemptions to enterprises, which contributed significantly to promote the development of businesses and enhance national competitiveness.

Trương Huỳnh Thắng from the ministry’s Legal Department, said that the ministry aimed to ensure equality in accessing resources and business opportunities for enterprises, reducing costs and creating favourable conditions for enterprises.

Thắng said that this was reflected through improvements of Việt Nam’s rankings in the World Bank’s flagship report about ease of doing business issued in October last year, which ranked Việt Nam 68th out of 190 countries and territories, an improvement of 14 positions.

Tax and customs were also in the top three groups of administrative procedures which placed the least financial burden on enterprises according to the Government Office’s recently issued Administrative Procedure Cost Index 2018. Tax and customs also topped the list in applying IT in management.

At the workshop, officials from the Ministry of Finance also answered questions related to tax policies, especially the implementation of e-invoices following the Government’s Decree 119/2018.

Đậu Anh Tuấn, head of the Việt Nam Chamber of Commerce and Industry’s Legal Department, was quoted as saying that tax and customs reforms contributed significantly to enhancing national competitiveness as well as attracting foreign investment.

Nguyễn Xuân Hoàng, deputy chairman of Misa Jsc., said that tax and customs reforms brought benefits to enterprises, not only cost and time savings but also business opportunities.

“Enterprises expect more reforms of the Ministry of Finance to create favourable conditions for doing business and boost their development to create jobs and contribute to socio-economic development,” Hoàng was quoted as saying.

Nguyễn Mạnh Hà, chairman of Hà Lan Tourism and Trade Jsc., said that enterprises must be placed at the centre of reforms.

Hà said that efforts and achievements of reforms of the Ministry of Finance in recent years were remarkable. However, businesses expected further efforts to hasten reforms as well as developing policies to facilitate business and production.

Source: VNS