On June 6, 2017, the Prime Minister issued Directive No. 26/CT-TTg on continuing the effective implementation of Resolution No. 35/NQ-CP on supporting and developing enterprises until 2020.
Orientation on tax management
In the field of finance and taxation, some of the solutions and tasks outlined in the Directive include:
– Review and propose amendments to regulations on tax and customs management, aiming for interconnectedness among relevant ministries and agencies to minimize the time and costs for businesses. Report to the Government and submit to the National Assembly a plan for drafting a bill to amend tax laws in the third quarter of 2017.
– To chair and coordinate with ministries, sectors, and People's Committees of provinces and centrally-administered cities to strictly manage and collect taxes correctly, fully, and promptly from large business households; combat tax evasion by lump-sum tax payers; research and propose tax collection policies and simplified accounting systems suitable for small enterprises, especially those converted from business households, and report to the Government for submission to the National Assembly in the third quarter of 2017.
– Develop a Decree on electronic invoices and documents to be basically implemented throughout the entire economy in 2018, and submit it to the Government in October 2017.
– Implement value-added tax refunds electronically at level 4, achieving a minimum of 70% in terms of procedures and 70% in terms of value-added tax refund applications processed by the end of the fourth quarter of 2017; improve the effectiveness and efficiency of the national single window mechanism towards interconnectedness, ensuring the connection and sharing of information, and complete and report to the Prime Minister in October 2017.
Businesses need to keep up with government guidelines in order to make appropriate adjustments.
See all: Directive No. 26 / CT-TTg
