Monday , March 27 2023

"Taxes are famous, are not they?"


Minister of Finance Dinh Tien Dung.

Minister of Finance Dinh Tien Dung.

Commenting on the Draft Tax Administration Law this morning (November 12th), Finance Minister Dinh Tien Dung said that this law has been changed three times over the last 10 years to serve the economic development process, but so far it still reveals many inadequacies,

"In the past, business was understood in a traditional way, but now the business is in a new context, so it's difficult to identify business methods in the context of sharing the economy, e-commerce … The tax is not regulated by law, the minister said.

According to the minister, tax authorities have recently tried to investigate hundreds of thousands of online accounts on the Internet, such as Facebook, Google … and lobbying, sending letters urging them to pay taxes.

"The law does not regulate, but practice still needs to be addressed". For example, seals at gas stations, although not regulated by the law, now included several hundred thousand and limited gasoline smuggling inside. Increasing environmental taxes on the timing of this seal, "he said.

However, the minister said that business on Facebook, Google … basically tax authorities have a sanction, but not a treatment.

Therefore, the Ministry of Finance, in coordination with the Ministry of Information and Communications, requires the operator to establish servers in Vietnam and coordinate management as soon as there are problems. The Financial Management Agency also coordinates with the State Bank of Vietnam to provide information as it is currently paid at the local and international level through cashiers for payment of the monetary authority.

"As for economic development, we do not have a flexible and flexible mechanism of management between the agencies, which is very difficult to manage." The account is required from commercial banks to share information about the account. Once the tax is imposed, the bank's reaction is impossible. But, if we can not control revenue, we can not control the cash flow. We have a lot of money, "said Dung.

For the new rules, the head of the financial industry has a number of examples that say: "There is water, if you do not count, do not pay. We do not do it, it's very difficult." His drastic management of revenues, revenues and taxes. Vietnam is a frog market, a rural market … management is difficult to collect invoices through tax receipts. "

"If we say tax administration, we need to look at the current state of our business culture very problematic, it is necessary to synchronize the order of all levels, taxpayers are famous and high. So places like this need to be synchronized, this law will be related to other laws we should take the responsibility of this industry, "he stressed.

He also questioned the case that foreign companies investing in Vietnam invested tens of billions of dollars, but "who determines who dares to correct or just self-publish." "Obviously, I accept the number of receivables and announce how much, so that the announcement of such a depreciation of the transfer price does not say, new technologies, which claim that the investment is not?" He asked.

Recognition of the law has many shortcomings, in many cases "his law is lost," the head of the financial industry said that the executive must "only make mistakes" in the leadership.

"I investigated the research in order to find traces." Comprehensive comrades say this year they will attract foreign investments, paying off this money, but who claim that the money is correct or later depreciation then there should be new losses in operating for losses, but nevertheless invest in expansion. They are complex. The need for synchronizing the industry is so, "he said.

Phuong Dung

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