Draft regulation expected to simplify tax registration

Friday, Jun 12, 2015 16:22

A draft revision of regulations on tax registration will help reduce burdensome for businesses if it is approved. — Photo thoibaotaichinhvietnam.vn

HA NOI (Biz Hub) — Procedures for tax registration are expected to be simplified if a draft revision of a circular on tax code registration, proposed by the General Department of Taxation, is approved.

The revision would be made to assure circular No. 80/2012/TT-BTC follows the new Laws and Decrees and to resolve problems that emerged during the implementation process.

Under the draft revision, a 13-digit tax code will be assigned to all branches and representative offices of enterprises, as well as affiliated units of corporations and businesses that are subject to tax payments.

The change should be carried out to resolve the differences between the finance ministry and the ministry of planning and investment in granting tax codes, according to the general department of taxation.

The finance ministry grants 13-digit tax codes to branches and representative offices of businesses, along with business locations that are responsible for paying taxes and directly registering with tax authorized agencies.

Meanwhile, the ministry of planning and investment issues 13-digit tax codes to all branches and representative offices of businesses, whether they are responsible for paying taxes or not, and issues 5-digit codes for business locations. The five-digit code is not considered a tax code.

Under the draft revision, the procedure for registering a tax code will be simplified. Taxpayers are only required to submit one set of dossiers to the tax authorities, and the timeline for approval is to be reduced to one working day, from the current three working days from the date of application.

Time to inform taxpayers to change or add information to the tax registration application will be lengthened to three days, instead of the current one day.

The general department of taxation is now seeking opinions from the public on the revision.— VNS

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