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Vietnamese Firms Happy With Tax Admin Reforms

by Mary Swire, Tax-News.com, Hong Kong

13 August 2015


Over 70 percent of businesses in Vietnam are satisfied with recent administrative reforms, which have simplified tax compliance procedures, according to a August 12 survey from the Vietnamese Government and the Vietnam Chamber of Commerce and Industry (VCCI).

Among the 2,500 surveyed companies, 58 percent considered information about tax procedures to be simple and understandable, said Dau Anh Tuan, Head of the Legal Department of the VCCI.

Nevertheless, 70 percent of respondents reported that they still encounter difficulties in learning about tax-related policies and laws, while just under half (49 percent) of those surveyed said they met certain obstacles in registering for taxes or adjusting tax registration information.

Around 50 percent found tax department staff to be helpful and professional. Worryingly however, the survey also uncovered a culture of bribery in the interactions between business taxpayers and tax officials, with 32 percent of respondents admitting that they have paid "unofficial" fees to staff. Four-in-ten companies said that would be discriminated against if they didn't pay these additional fees.

Last September, the Ministry of Finance issued Circular No. 119/2014/TT-BTC, which aims to cut the number of hours needed for businesses to comply with tax obligations by over 200 hours per year. The reforms are part of the Ministry's efforts to cut the time taken for enterprises to prepare and pay their taxes by a total 300 hours each year.

TAGS: compliance | Finance | tax | business | tax compliance | law | fees | Vietnam

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