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Tax refunds worth trillions of VND

Tax bodies are working on problems related to VAT refunds in order to help businesses get money to invest in operations, following a dialogue held last week.
A representative of an enterprise taks about tax policies and customs procedures

Secretary General of the Vietnam Cassava Association Pham Vu Ha said that,  upon detecting a cassava starch company committing tax-refund fraud in March, the General Department of Taxation (GDT) asked local tax bodies to check the list of Chinese buyers requesting tax refunds. 

The amount of tax that needs to be refunded to date has reached VND1 trillion and keeps increasing.

Thang Van Thong from the Vietnam Wood Chips Association said that companies using planted forest wood have not got VAT refunds of about VND1 trillion. The amount ranges from several million to VND40-50 billion/company.

Thong said that tardiness in tax refunds has led to many companies lacking capital for their business. If this continues, many firms will have to suspend operations.

GDT’s Deputy General Director Vu Chi Hung said that in 2019, tax officers discovered a wrong tax refund case in Phu Tho province. “As for the correct cases of tax refund, we always take the initiative in giving refunds,” he said.

“After the dialogue, we will continue to exchange views with local taxation agencies to refund tax to enterprises, not only cassava starch ones, but wood chips as well. As for other enterprises, most of them have  tax refunds as per regulations,” he said.

Under current regulations, if enterprises belong to the group of enterprises which can get a tax refund first and inspection later, the time for refund is six working days. 

If enterprises belong to the group of enterprises that have to be examined first and then get a tax refund, the time is up to 40 days.

Enterprises must satisfy requirements to get VAT refund 1/having export contracts 2/having customs declarations and 3/making payment via banks.

This means that they could get a tax refund if they meet the requirements and agencies must not stop the refund only because they discover fraud at some enterprises.

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