The Ministry of Finance and the Việt Nam Chamber of Commerce and Industry on Tuesday held a dialogue on tax and customs policies with more than 500 companies, aiming to remove difficulties and favourable conditions for business operations.
Tax policies are being specified while customs procedures simplified to improve the legal framework to implement the European Union – Viet Nam Free Trade Agreement (EVFTA).
Reforms to customs checks and procedures must facilitate trade and prevent fraud at the same time, Deputy Prime Minister Vuong Dinh Hue said, urging for enhanced supervision to ensure the quality of the process.
The Ministry of Industry and Trade’s Import-Export Department has informed firms and business associations about a new Russian resolution regarding exports to Russia that transit though Ukraine, urging businesses to assure consideration of customs procedures.
The Viet Nam Chamber of Commerce and Industry (VCCI) has proposed removing conditions for 22 business sectors including rice export, trade arbitration, accounting services, debt purchasing, customs procedures and logistics services.
Simplified tax and customs procedures would attract more foreign investors to Viet Nam, said South Korean Ambassador Kim Do-huyn at a conference in Ha Noi on September 17.
The HCM City customs department informed South Korean firms about new trade regulations and resolved problems faced by the latter in carrying out customs procedures at a dialogue held on Tuesday.
The Vietnam Chamber of Commerce and Industry (VCCI) reported that it had passed 1,152 petitions from the business community to relevant State agencies as of November 2017-end.
The number of companies involved in foreign trade has increased, indicating simplified customs procedures, a senior official in the Customs General Department said.
Two more domestic firms have been granted priority status in customs procedures, on-line Hai Quan newspaper quoted the General Department of Customs as saying.
Despite efforts to hasten administrative reforms, there is still room
for further reduction in customs procedures, and businesses expect more
simplification.
A preferential tax rate of 0 per cent will be imposed on imported
materials, ancillary parts and components used for manufacturing major
IT products from August 13, 2015.
The General Department of Customs has set a target to reduce time spent
on customs procedures to less than 10 working days for exports and 12
working days for imports by 2016.