HCM City tax, customs officials talk with OV businesses

 

HCM City (VNA) – Ho Chi Minh City’s tax and customs officials have held a dialogue with overseas Vietnamese (OV) businesses in the city to help them tackle obstacles and difficulties.

At the dialogue, jointly held by the city’s Committee for OV and the Trade and Investment Promotion Centre on December 8, many businesses raised questions on tax declaration procedures and tax policies applied for specific business areas, the process of import and export, and entry policy for OV entrepreneurs.

A representative from DEVI company said that his company was asked to pay taxes for additional components that are missed from the previous consignments with taxes already paid.

Dinh Ngoc Thang, deputy head of the Ho Chi Minh City’s Department of Taxation, said that the tax payment request is legal and aims to reduce frauds in import-export activities.

He suggested that the company report the missing parts of the consignment immediately to customs agency for support.

Replying to a question on the maximum amount of cash that OV businesses can keep while entering and exiting Vietnam, Le Tuan Binh, deputy head of the Tan Son Nhat Airport Customs Sub-Department, a person can take with them a maximum of 15 million VND or 5,000 USD in cash when leaving Vietnam.

People are requested to show legal documents from banks if they wish to bring any extra amount, he said, adding that they must inform customs officials if bringing more than 15 million VND or 5,000 USD in cash when entering the country. Binh affirmed that the cash declaration takes no fee.

Speaking at the event, Nguyen Hong Hue, Vice President of the Overseas Vietnamese Business Association, lauded the organisation of the dialogue, saying it shows HCM City authorities’ willingness to address difficulties for OV businesses.

Tax and customs procedures of Vietnam have been improved significantly over the past decade, creating favourable conditions for Vietnamese businesses abroad to return to the homeland for investment.

Meanwhile, Nguyen Truong Nhan, Vice Chairman of the Ho Chi Minh City Committee for OV, said that the number of OV businesses returning to Vietnam and Ho Chi Minh City in particular has increased recently.

The dialogue is one of the most effective channels to remove difficulties for businesses, through which authorised agencies can hear opinions of the business community for timely policy adjustments, he said.-VNA