The General Department of Taxation (GDT) has sped up reforms and application of information technology to make its management more effectively.
According to the GDT latest report, up to 96.21 per cent of the country’s firms has so far registered to pay tax online. Tax revenue collected through the electronic service reached over VND120.6 trillion (US$5.31 billion) with 976,000 transactions in the first three months of this year.
During the period, the number of firms using the electronic tax declaration services was more than 648,000 with some 48 million applications while more than 2,800 firms also used electronic tax refund services to get a total refunds of VND13 trillion.
GDT also reported that 218 firms have so far used 5.9 million e-invoice since the pilot program was launched in Hanoi and Ho Chi Minh City tax departments in September 2015.
According to Bui Van Nam, GDT General Director, tax revenue collected through the electronic service reached over VND520 trillion ($22.9 billion) last year, accounting for over 51 percent of the country’s total tax revenue.
Last year also witnessed dramatic changes in tax administrative reform. Electronic tax declaration systems were implemented in 63 provinces and cities’ tax offices, with nearly 624,000 tax-paying accounts registered in the system.
GDT has so far also applied the electronic tax refund service to ease taxpayers at all 63 cities and provinces nation-wide.
According to GDT, it will focus on implementing revenue management solutions, reducing tax collection losses and managing arrears and value-added tax refunds this year. It will strive to increase tax collections by at least 3 percent against the State budget estimate of VND1.07 quadrillion ($55.88 billion) set for this year.
According to Nam, GDT has identified four key task groups and 20 corresponding measures, ensuring to meet the target.
GDT has so far asked agencies to work hard to achieve the set targets, closely monitor State budget collection, and step up inspections of tax declaration and payment, he said, adding that at least 18.5 percent of businesses will be under inspection this year to prevent losses in State budgetary revenue.
Besides, GDT will also focus on reforming administrative procedures to encourage investment, business, and production, which would in turn boost economic growth.
It will continuously consult relevant ministries and agencies on the revision and supplementation of tax laws and regulations.
According to GDT’s statistics, tax collection hit VND1.01 quadrillion ($44.9 billion) for the first time last year, surpassing the estimated goal by 5.2 percent.
During the year, GDT completed 103,211 tax inspections, 113 percent of the yearly plan, recovering more than VND19.4 trillion ($848 million) in tax payments, equal to an 81.04 percent increase in State budgetary revenue contribution, said Nam.
Furthermore, the GDT calculated that by the end of 2017, total remaining tax debt for Vietnam was about VND73 trillion ($3.2 billion), down more than VND2 trillion ($89 million) year-on-year.
Regarding anti-tax loss measures and irrecoverable tax debts, Nam said that last year, tax authorities collected more than VND44 trillion ($1.95 billion) in tax debt, some 59.5 percent of leftover tax debt from 2016.
Nonetheless, Nam admitted that remaining uncollected tax debt at the end of 2017 exceeded VND73 trillion ($3.25 billion), accounting for 7 percent of total tax revenue last year. As such, in 2018, he said, the sector will strive to keep tax debt below 5 percent of collected annual tax revenue.
Tax revenue collected through the electronic service was at US$5.31 billion in Q1 2018
|
GDT also reported that 218 firms have so far used 5.9 million e-invoice since the pilot program was launched in Hanoi and Ho Chi Minh City tax departments in September 2015.
According to Bui Van Nam, GDT General Director, tax revenue collected through the electronic service reached over VND520 trillion ($22.9 billion) last year, accounting for over 51 percent of the country’s total tax revenue.
Last year also witnessed dramatic changes in tax administrative reform. Electronic tax declaration systems were implemented in 63 provinces and cities’ tax offices, with nearly 624,000 tax-paying accounts registered in the system.
GDT has so far also applied the electronic tax refund service to ease taxpayers at all 63 cities and provinces nation-wide.
According to GDT, it will focus on implementing revenue management solutions, reducing tax collection losses and managing arrears and value-added tax refunds this year. It will strive to increase tax collections by at least 3 percent against the State budget estimate of VND1.07 quadrillion ($55.88 billion) set for this year.
According to Nam, GDT has identified four key task groups and 20 corresponding measures, ensuring to meet the target.
GDT has so far asked agencies to work hard to achieve the set targets, closely monitor State budget collection, and step up inspections of tax declaration and payment, he said, adding that at least 18.5 percent of businesses will be under inspection this year to prevent losses in State budgetary revenue.
Besides, GDT will also focus on reforming administrative procedures to encourage investment, business, and production, which would in turn boost economic growth.
It will continuously consult relevant ministries and agencies on the revision and supplementation of tax laws and regulations.
According to GDT’s statistics, tax collection hit VND1.01 quadrillion ($44.9 billion) for the first time last year, surpassing the estimated goal by 5.2 percent.
During the year, GDT completed 103,211 tax inspections, 113 percent of the yearly plan, recovering more than VND19.4 trillion ($848 million) in tax payments, equal to an 81.04 percent increase in State budgetary revenue contribution, said Nam.
Furthermore, the GDT calculated that by the end of 2017, total remaining tax debt for Vietnam was about VND73 trillion ($3.2 billion), down more than VND2 trillion ($89 million) year-on-year.
Regarding anti-tax loss measures and irrecoverable tax debts, Nam said that last year, tax authorities collected more than VND44 trillion ($1.95 billion) in tax debt, some 59.5 percent of leftover tax debt from 2016.
Nonetheless, Nam admitted that remaining uncollected tax debt at the end of 2017 exceeded VND73 trillion ($3.25 billion), accounting for 7 percent of total tax revenue last year. As such, in 2018, he said, the sector will strive to keep tax debt below 5 percent of collected annual tax revenue.
Other News
- Hanoi hosts the “Green Products for Consumers” fair
- Hanoi aims to lead the country in exporting OCOP products
- IT training urged to focus on semiconductors
- 3,400 taels of gold purchased at the first-in-11-year auction
- Hanoi partners with Lai Chau to market OCOP products
- HoSE to launch KRX-developed transaction system in early May
- Central bank moves gold auction to tomorrow
- Hanoi Great Souvenir Fair 2024 to take place next week
- As orders rise, Vietnamese textile firms see better prospects in 2024
- C.bank to auction nearly 17,000 gold taels on April 22
Trending
-
Hanoi, UNESCO pledge further cooperation
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video