VND 13,533 billion of tax exempted and reduced

By Nu Bui/Ngoc Loan

08:04 | 09/10/2022 Finance Follow english.haiquanonline.com.vn on

VCN – According to the statistics of the Import and Export Duty Department under the General Department of Vietnam Customs, in the first nine months of the year, the Customs sector has effectively provided tax incentive policies for imported products for Covid-19 control and prevention and reduced VND 13,533 billion of VAT.

	Tax sector implements set of indicators to assess service quality
	Difficult to collect tax debt in the field of export processing, manufacturing
	Enterprise, Customs face difficulties in implementing tax incentives for recycled products

VND 13,533 billion of tax exempted and reduced

An officer of Vinh Customs Branch instructs customs declarant procedures. Photo: H.N

The General Department of Vietnam Customs has reduced import duty under Decision 155/QD-BTC dated February 7, 2020, Decision 436/QD-BTC dated March 31, 2020, Decision 2138/QD-BTC dated December 18, 2020, and Decision 1921/QD-BTC dated September 30, 2021, of the Ministry of Finance for the Covid-19 prevention and control.

As of August 31, the Customs exempted VND3.86 billion import duty for imported products.

The Customs sector has not collected import duty and VAT for goods imported by Vietnamese organizations and individuals to aid the Government, the Ministry of Health, the People's Committees, Vietnam Fatherland Front Committees of provinces and cities for the prevention and control of the Covid-19 pandemic under the Government Resolution 106/NQ-CP dated September 11, 2021.

As of August 31, Customs did not collect VND60.2 billion of VAT and VND1.4 billion of import duty.

Following the provisions of Decree 15/2022/ND-CP dated January 28 on tax exemption and reduction under Resolution 43/2022/QH15 of the National Assembly on fiscal and monetary policy, the Customs has reduced VND13,468 billion of VAT from January to September 21.

By Nu Bui/Ngoc Loan

Tags:

Related News

Facilitates import and export enterprises amid difficult context

09:46 | 06/04/2023 Customs

VCN – Making great efforts to create favourable conditions for businesses and promoting import and export growth are key contents concluded by Deputy Director General Hoang Viet Cuong at the online conference to review performance in the first quarter and set out the task in the second quarter of 2023, held by the General Department of Vietnam Customs (GDVC) on April 4.

Enterprises have the right to pre-determine HS codes

09:55 | 06/04/2023 Regulations

VCN - At the dialogue conference between Ho Chi Minh City Customs Department and import-export enterprises at the weekend, enterprises raised many problems related to HS code application, and post-clearance audit.

Customs seizes 20 drug-related offences

10:23 | 05/04/2023 Anti-Smuggling

VCN – In the first quarter of 2023, the Customs sector has tackled many cases of transnational drug trafficking and transportation, the General Department of Vietnam Customs released on April 3.

Import and export turnover across Cao Bang prospers but still exists difficulties

10:25 | 05/04/2023 Import-Export

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.

Latest News

Corporate bonds worth 1.1 billion USD issued in March

13:55 | 06/04/2023 Finance

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.

Tax revenue is estimated at VND 426,922 billion in the first quarter

09:56 | 06/04/2023 Finance

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion, equaling 30.9% of the estimate, up 5.3% over the same period in 2022.

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

14:47 | 04/04/2023 Finance

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.

Central bank starts huge credit package for social housing projects

14:42 | 04/04/2023 Finance

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

More News

In Q1, State revenue estimated to rise by 1.3%

13:28 | 04/04/2023 Finance

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.

Consider raising the level of penalties to ensure fairness and transparency in the stock market

13:27 | 04/04/2023 Finance

VCN - Mr Pham Hong Son, Vice Chairman of the State Securities Commission, discussed solutions to improve the capacity, improve fairness and transparency of the stock market.

Central bank cuts policy interest rates to spur growth

17:43 | 02/04/2023 Finance

The State Bank of Vietnam (SBV) announced it would reduce several policy interest rates from April 3, the second cut within one month, the regulator announced on its website March 31 night.

Ensure policies to attract investment when implementing global minimum tax

10:33 | 02/04/2023 Finance

VCN - On the afternoon of March 30, in Hanoi, the Ministry of Finance held a regular press conference in the first quarter of 2023, chaired by Deputy Minister of Finance Nguyen Duc Chi. Many issues related to the tax field were discussed and answered at the conference.

SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

20:30 | 01/04/2023 Finance

The State Bank of Vietnam (SBV) has suggested the Government to issue a revised decree on foreign investors buying shares from Vietnamese credit institutions.

Solutions to attract FDI when implementing the global minimum CIT

11:38 | 01/04/2023 Finance

VCN - On March 29, the Vietnam International Arbitration Center (VIAC) and the Center for International Integration, the Ho Chi Minh City Institute for Development Studies, jointly held a seminar on Global Minimum Corporate Tax – outlook and challenges in attracting foreign investment (FDI) in Ho Chi Minh City.

Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

13:43 | 31/03/2023 Finance

VCN – The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.

Being many "hot" issues at the general meeting of shareholders of banks

09:24 | 30/03/2023 Finance

VCN - International Commercial Joint Stock Bank (VIB) will be the first bank to hold a general meeting of shareholders this week, and then April will be the "peak" for banks to deploy.

Bringing the policies on reducing land rent and water surface rent into life

15:41 | 29/03/2023 Finance

VCN - The tax sector is drastically implementing dissemination and support to make the policy of reducing land rent and water surface rent in 2022 fully effective.

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read