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Saturday, September 30, 2023

The tax refund tangle

By Van Phong

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While there has been some improvement in the value-added tax (VAT) refund process in recent months, a significant number of businesses, particularly those exporting agricultural, forestry, and processed products, are still grappling with the frustrating delay in receiving their much-needed tax refunds. This delay is adversely affecting their working capital. During numerous meetings, the Prime Minister has emphasized the necessity for the tax authority to ensure accurate, complete, and timely VAT refunds. In response to his directives, Finance Minister Ho Duc Phoc has mandated that the tax authority promptly process […]
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