TAX AUTHORITIES TO CUT AT LEAST 20 PER CENT OF COMPLIANCE COSTS RELATED TO BUSINESS ACTIVITIES

The General Department of Taxation (GDT) has said that it guaranteed to reduce and simplify at least 20 per cent of regulations and cut at least 20 per cent of compliance costs related to business activities and eliminate unnecessary regulations by 2025.

The GDT has just issued Decision No 1308/QD-TCT on the implementation plan for Decision No 1162/QD-BTC dated June 8 of the Ministry of Finance (MoF) on the issuance of the action plan on improving the quality and efficiency of online public service provision by the MoF this year.

In this plan, the GDT aims to continue to reduce and simplify regulations related to business activities, and eliminate regulations that are no longer appropriate.

The GDT's units have completed the integration of online public services under their management into its web portal.

In which, the Public Service Portal and the Electronic Portal of the General Department of Taxation are connected and share data with the National Public Service Portal.

Along with that, the plan sets a target that 100 per cent of administrative procedures that meet the requirements of the law will be provided in the form of a complete online public service.

100 per cent of online public services that are fully qualified for connection are integrated into the Public Service Portal and the GDT's web portal.

100 per cent full-fledged online public services that are eligible for connection, involving many people and businesses, are integrated into the National Public Service Portal.

The decision ensured to reduce and simplify at least 20 per cent of regulations and cut at least 20 per cent of regulatory compliance costs related to business activities in effective documents until the end of May 31, 2020, in accordance with the requirements of Resolution No 68/NQ-CP dated May 12, 2020, of the Government by 2025.

At least 80 per cent of administrative documents are processed completely online. The information systems of the GDT related to people and businesses put into operation and exploitation are connected and interconnected through an integrated and data-sharing platform; information of people and businesses is digitised and stored in national databases without having to re-supply, stated the GDT.

Source: VIR