Taxpayers will have the right to know the time limit for tax refunds and non-refundable tax amount with legal grounds, according to a draft revision for the Law on Tax Management.

This is one of many provisions to support taxpayers proposed by the Ministry of Finance in the draft law, aiming to enhance the tax sector’s efficiency with clear tax policies, simple tax procedures, quality human resources and modern information technology as well as bringing the sector in line with international practices.

According to the draft law, the taxpayers will be assisted and guided through tax payments as well as being provided with information and documents relevant to taxation.

The taxpayers will be compensated for damage caused by the tax administration agency under the provisions of the law. Late payment will not incur penalties in cases taxpayers complied with the documents of tax administration agencies.

At the same time, they will be consulted to see and print all taxpayers’ electronic invoices sent to the e-portal of the tax administration agency according to the provisions of this law and regulations on e-transactions. They are allowed to use electronic invoices in transactions with tax administration agencies and relevant agencies and organisations.

According to a draft report by Minister of Finance Dinh Tien Dung, administrative reforms in State management activities, including tax management procedures, has achieved positive results.

He said the reform in tax management procedures had contributed to saving time and procedure costs, raising competitiveness for businesses as well as attracting foreign investment in Viet Nam.

The ministry has reviewed and cut 63 tax procedures and simplified 262 administrative procedures, reducing the tax payment time to 420 hours from 537 hours, equivalent to reducing costs by more than VND7 trillion (US$300 million) per year for taxpayers.

According to a report by the World Bank published in October 2017, Viet Nam’s 2018 Doing Business ranking is 68th out of 190 countries and territories, an increase of 14 places compared to the previous year (ASEAN 5 Group). In terms of paying taxes, the country’s ranking is 86th out of 190 countries and territories, up 81 positions over the previous year.

The positive results in tax management need to be strengthened and developed by law, Dung said in the report. — VNS