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tax policy

Overhauling tax procedures: a key priority

Tax procedures are on top of the three groups of administrative procedures that should be reformed, 495 out of 891 businesses responded in a survey This is the information from a report on the results of a survey on the delivery/execution of administrative procedures for businesses in 2024 recently published by the Board for Private Economic Development Research (Board IV) under the Prime Minister’s Advisory Council for administrative reform. There are six groups of basic administrative procedures that businesses must carry out during their lifetime, including starting business, labor and social insurance, import-export, land and construction, tax, and dissolution or suspension of operations. The results of Board IV’s survey indicate the degree of “improved/considerably improved” procedures is not high, representing 10-30% of 891 businesses surveyed. Groups of procedures with much improvement include starting business (26.4%), labor and social insurance (22.7%), and dissolution or suspension of operations (12.6%). Procedures with poor improvement include tax (39.1%) and land, environment, and construction (36.5%). According to businesses’ feedback, the tax agency has tried to improve policy and enhance efficiency in the delivery and execution of tax procedures, but three difficulties still exist. The first difficulty is the lack of synchronization and the complexity in […]
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Early response to new tax policies

The National Assembly has decided to amend three significant tax laws: Corporate Income Tax, Value Added Tax, and Special Consumption Tax, with changes set...

Businesses need to adapt to changing tax policy

HCMC - Businesses need to stay updated on changes in international and domestic tax and customs policies to protect themselves from possible negative impacts,...

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