Many changes in value added tax refund management

(Baonghean.vn) - On August 31, the General Department of Taxation held a press conference to introduce new points in the regulations on value-added tax (VAT) refund management, implementing Law 106/2016/QH13 and Circular 99/2016/TT-BTC on the above content.

The Provincial People's Council supervises the results of administrative reform implementation at Nghe An Tax Department. Photo: Document

Accordingly, the General Department of Taxation has introduced important documents regulating this activity, contributing to solving difficulties and promoting production development. In particular, production and circulation of domestic agricultural and aquatic products; preventing fraud in VAT refunds in the circulation of agricultural and aquatic products; supplementing regulations to encourage deep processing; supporting enterprises to proactively invest in production development to improve competitiveness; contributing to simplicity, transparency, creating convenience for taxpayers and promoting administrative reform and modernizing tax management, in line with the trend of reforming the tax system.

At the press conference, the General Department of Taxation said that from 2009 to now, the tax authority has received documents and refunded 14,617 billion VND to Hung Nghiep Iron and Steel Company Limited (Formosa Ha Tinh). Of which, 10,601 billion VND is goods, machinery, equipment, raw materials... imported by Formosa and paid import VAT to the State budget. The remaining amount is domestic input VAT of contractors. This is the tax refund amount in accordance with the provisions of the Law on VAT for newly established enterprises in the investment phase.

The General Department of Taxation also said that, according to the tax sector's target, in the period of 2016-2017, it strives to achieve the target of 95% of tax refund dossiers being done electronically. To do this, next November, tax refunds will be implemented in 5 provinces and cities including: Hanoi, Ho Chi Minh City, Dong Nai, Hai Phong, Binh Duong, which are large areas, businesses are ready to apply information technology and are also localities that are always at the forefront of electronic tax declaration and payment.

Banks support electronic tax payment services.

By 2017, 95% of the files will be electronically refunded via the tax sector's electronic information portal. Implementing electronic tax refunds will help businesses that comply with tax laws and have complete tax refund files in accordance with the law to receive a pre-refund and post-inspection via the internet within 6 working days from the date of completion of the tax refund application. However, the tax sector will also tighten the review and inspection of those with a history of poor tax law compliance, even forcing them to be pre-inspected and post-refunded - Deputy General Director Cao Anh Tuan affirmed.

Since the beginning of the year, tax authorities at all levels have received 13,962 tax refund applications and 2,215 refund applications from 2015. The entire industry has processed 12,173 applications and refunded 58,000 billion VND of tax from enterprises. Through inspections at tax authority headquarters, the tax industry has eliminated or announced that 1,821 applications with the amount of 12,275 billion VND, accounting for 14.2% of the tax requested for refund, were not eligible for tax refund.

Red River