Hanoi’s taxation agency shares policies with Japanese businesses
Illustrative image (Source: VNA)
The Hanoi Taxation Department shared information about tax
policies of Vietnam and Hanoi in particular with the Japanese firms operating
in the capital city during a seminar on August 10.
at the event, Deputy General Director of Taxation and Director of the Hanoi
Taxation Department Nguyen The Manh said the event aims to promptly deal with
arising obstacles in the process of adopting tax policies targeting the Japanese
Japanese investors spoke of tax policy flaws involving transfer pricing,
franchising, added value tax software, corporate and individual income tax, and
special consumption tax.
representative from the Japan Business Association in Vietnam said the association
will continue acquiring Japanese firms’ feedback on tax policies and working
behaviours of tax officials and cadres to report to the Hanoi Taxation
recent years, the Japanese businesses’ revenue to the Hanoi’s State budget has
accounted for nearly 30 percent of the total paid by foreign-invested ones. In
2016, Japanese firms contributed 4,819 billion VND (209.5 million USD) to the
city’s budget. The figure rose to 2,854 billion VND (124 million USD) in the
first half this year, up 23 percent annually.
Under a scheme on developing Hanoi’s economy in the
context of carrying out Vietnam-Japan free trade agreements until 2020, the
city asked departments, agencies, and the taxation sector to reform
administrative procedures by improving the quality of tax filing and payment,
making it easier for Japanese enterprises to do business in Hanoi.-VNA