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 Taiwan (China) business community is currently the leading among countries and territories investing in Binh Duong, with more than 860 projects, total investment capital of over 6,280 million USD. Therefore, listening to, understanding thoughts, and solving problems of investors about law and policy compliance is one of important tasks set by Provincial Tax Department.  

Dialogue forum with foreign investors is a good opportunity for the tax authority to listen to and develop together. In photo: Representative of a Taiwanese business speaks at the forum.

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During the first nine months of 2022, state budget revenue of Binh Duong faced difficulties. However, along with efforts of firms to overcome difficulties, the tax authority made efforts to accelerate debt collection and exploit generated revenue. It is estimated that by the end of September, budget revenue reached VND 32,964.3 billion, reaching 99.5% target of the same period last year. With a desire to create the most favorable conditions for businesses to operate effectively and contribute to the economy through payment to the State budget.

the Taiwan (China) Business Dialogue Forum 2022 was held for the Provincial Tax Department to receive ideas to promptly solve problems of firms in tax law enforcement. At the forum, business representatives present difficulties as well as made recommendations based on the reality of production business activities, and fulfillment of financial obligations to the State. 

Some issues were mentioned at the forum, such as VAT refund; for personal income tax, in case of non-resident individuals, do they have to make tax finalization at year end; whether the cost of buying gifts for customers and employees is included in deductible expenses, is it tax deductible; enterprises perform on-site exportation and export receipts cum internal transportation... Most opinions and comments were answered directly by officials of the provincial Tax Department at the forum, issues beyond the competence were recorded, summarized, and sent to competent authorities.

According to opinions of many businesses, provincial Tax Department directly collected questions and problems of businesses about service quality of the tax authorities; this is a closest and effective solution for businesses to say what they want to say, want to propose to the tax authorities or more attention, faster settlement. This is also an important premise for Taiwanese enterprises to understand State policies, strictly comply with regulations, and facilitate the production business development.

Tran Thuy Thach, Vice Chairman of Binh Duong Taiwan (China) Traders Association “We highly appreciate the efforts of the tax authority in administrative procedure reform, namely being very thorough in propagation and to encourage firms to declare tax online; organize training courses to disseminate and guide us through amendments and supplements to tax regulations; directly answer questions of businesses at the forum. I also noticed that policies in Vietnam generally and Binh Duong particularly are increasingly open and flexible, especially with many incentives to help businesses recover after the Covid-19 pandemic.

The tax authority commits to providing support

 Nguyen Van Cong, Director of the Provincial Tax Department, said that determining the external force coming from foreign investors as an important factor, the consensus and active coordination of taxpayers in the province are an important factor for the tax authorities to achieve their goals. The Provincial Tax Department always puts the satisfaction of businesses on top. Therefore, according to Nguyen Van Cong, forums to directly answer questions and solve difficulties are opportunities for businesses and tax authorities to get closer. Therefore, the Provincial Tax Department has paid attention and intensified propagation and support in many forms.

In particular, the agency actively studies to understand difficulties and problems of taxpayers, maintains periodically business dialogue forums. Thereon, the agency advised and proposed tax mechanisms and policies in line with reality, helping the business community and taxpayers maintain stability, develop production business, attract investment, and generate sustainable revenue sources for the state budget.

Nguyen Van Cong stressed, with the motto of person-centered service, Binh Duong tax agencies commit to providing solutions, supporting, and accompanying business development to contribute more to the budget, by promoting reform of administrative procedures, improving the business investment environment, handling difficulties and obstacles, solving bottlenecks and inadequacies in policies, mechanisms, and administrative procedures to facilitate the business community’s fast and sustainable growth.

 Reported by Thanh Hong - Translated by Ngoc Huynh