Business

Tax inspection conducted in over 67,800 businesses

The General Department of Taxation has to date conducted tax inspections over more than 67,800 enterprises, accounting for 14 percent of the total operating ones, heard a conference in Hanoi on December 26.
The General Department of Taxation has to date conducted tax inspectionsover more than 67,800 enterprises, accounting for 14 percent of thetotal operating ones, heard a conference in Hanoi on December 26.

Addressing the conference to review the sector’s operation in 2014,Deputy Prime Minister Vu Van Ninh spoke highly of the achievements thesector gained in the context that the country still faced manydifficulties.

However, he asked for tax inspection over at least 20 percent of the 490,000 operating businesses.

In response to the Deputy PM’s request, Finance Minister Dinh TienDung proposed the rates of 16 percent, 18 percent and 20 percent withinthree years.

According to the GeneralDepartment, tax collection is estimated at 681 trillion VND (32 billionUSD), equivalent to 109.1 percent of the projection, of which domestictax is 580.1 trillion VND, or 107.1 percent of the estimate, and taxfrom crude oil sales is 101 trillion VND.

Duringthe year, the sector also intensified the reform of administrativeprocedures and the application of modern technology. Nearly 95 percentof the businesses conducted e-tax declaration.

Meanwhile, the time spent on tax procedures fell from 537 hours to167 hours per year. The sector is striving to decrease additional 45.5hours.-VNA
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