Tax filing time reduced by 114 hours

Pham Hanh DNUM_CGZBAZCABJ 06:28

Of which, 94 hours were reduced due to reform and simplification of VAT declaration procedures, and 20 hours were reduced related to corporate income tax payment and settlement.

According to the Global Business Environment Report (DB 2020) recently released by the World Bank (WB), the tax payment index in Vietnam increased by 22 places, bringing Vietnam from 131st to 109th out of 190 countries evaluated.

With Vietnam's tax payment index increasing by 22 ranks, the Tax sector has exceeded the Government's target set in Resolution No. 02 on continuing to implement key tasks and solutions to improve the business environment and enhance national competitiveness in 2019 and orientation to 2021. Accordingly, the target tax payment index this year is to increase by 7-10 ranks, approaching the target of 30-40 ranks by 2021.

viet nam tang 22 bac ve chi so nop thue hinh 1
The number of tax payments decreased from 10 times in 2019 to 6 times in 2020.

In assessing the tax payment index, the World Bank based on criteria such as the number of hours for tax payment; the number of tax payments per year; the total tax rate on profits; and the post-declaration index (value added tax refund, corporate income tax audit/audit). Most of these indexes have improved compared to the previous year and are recognized for Vietnam's efforts.

Specifically, the tax payment time decreased by 114 hours (from 498 to 384 hours); of which, 94 hours decreased due to reforms and simplifications in value-added tax declaration procedures and 20 hours decreased due to reforms and simplifications in corporate income tax payment and settlement procedures. The number of tax payments decreased from 10 times in 2019 to 6 times in 2020./.

According to VOV.VN
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Tax filing time reduced by 114 hours
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