Business

Ho Chi Minh City speeds up value-added tax refunds

The tax department in Ho Chi Minh City has directed its affiliates to focus on speeding up value-added tax (VAT) refunds for businesses.
Ho Chi Minh City speeds up value-added tax refunds ảnh 1 Illsutrative photo (Photo: vneconomy.vn) 

HCM City (VNA) – The tax department in Ho Chi Minh Cityhas directed its affiliates to focus on speeding up value-added tax (VAT) refunds for businesses.

Deputy Director of the department Nguyen Tien Dung said almost all businesses that submitted sufficient dossiers have received taxrefunds.

In the city, more than 80% of businesses get tax refunds firstand will be checked later. The remaining 20% will be inspected first before getting the refund.

Most of the businesses have been receiving tax refunds, while only afew have not as their dossiers are being verified.

Dung also said that the businesses that have not yet got the VAT refund are mainly in the high-risk groups such as those in rubber,wood chips, or cassava industries.

The city’s tax department has been strengthening communications campaigns on tax refund policies, dossiers and procedures needed so thatbusinesses can properly prepare tax refund applications, which helps createfavourable conditions for tax authorities.

In addition, the department has also urged units to strengthen inspectionand post-refund examination to promptly detect the use of illegal invoices orimproper use of invoices./.

VNA
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