Business to get free tax help Van Minh HCMC – The HCMC Tax Department will soon establish a division responsible for assisting newly established businesses to prepare, file and pay taxes. Nguyen Nam Binh, vice director of the department, told the Daily that each of the communication and taxpayer support offices of 24 district tax bureaus citywide would also have such a tax help division. Those divisions are mandated to provide timely assistance for startups and household businesses converted into companies to prepare, file and pay taxes. The city has thousands of newly established businesses a month. The city government also encourages household businesses to upgrade themselves into companies as part of a broader scheme to boost the number of enterprises in the city to half a million by 2020. … [Read more...] about Business to get free tax help
Business tax help
Online tax returns benefit both businesses, tax officials
Tran Ngoc Tam, deputy director of HCM City’s taxation department, spoke to Dau tu (Viet Nam Investment Review) newspaper about online tax returns Can you give your opinion on the implementation of the online tax return system that has run for the last four months? More than 8,000 enterprises pay tax to our department. With such a large number of enterprises, we can’t avoid delays in our work during the busiest times, such as the year-end. In this situation, online tax returns, where enterprises and officials can do tax returns via the internet, can benefit both tax officials and enterprises. It can also help enterprises familiarise themselves with online transactions. In the first stage, 110 enterprises took part in the online tax return method. Additional enterprises also showed an interest in joining the pilot project. It is much easier for the enterprises to complete the forms online as they don’t have to come and wait at the department for hand-written tax return … [Read more...] about Online tax returns benefit both businesses, tax officials
MoF hears businesses’ tax complaints
Business Beat (26-09-2005) MoF hears businesses’ tax complaints Last week, the Ministry of Finance organised two meetings with company representatives in Ha Noi and HCM City where its officials got an earful of complaints about its tax and customs procedures and practices. Businesses pointed to inconsistencies in applying tax rates, differences in categorising commodities, and differences in interpretation of the laws, resulting in losses for them. One company, for instance, imported germicide, which is not taxed. But customs officials said it was a detergent substance, which carries a 20 per cent tax. And, even after several laboratories confirmed it was indeed germicide, they refused to relent. The shipment remains stuck for more than two years now. Business representatives at the meetings said they were impressed by the ministry officials’ willingness to listen and promise remedies for their problems. But many said those problems would not have existed in the first place … [Read more...] about MoF hears businesses’ tax complaints
How businesses can help curb soaring inflation
How businesses can help curb soaring inflation (25-07-2008) HA NOI — Each movement in the business community may have an impact in curbing inflation, said economist Han Manh Tien here yesterday. Tien was speaking at a conference of economists and entrepreneurs hosted by the Viet Nam Association of Business Managers and the Viet Nam Association for Science and Technology. The subject of the conference was "countering inflation as an aspect of business management". Tien, who is chairman of the Viet Nam Association of Corporate Directors, said entrepreneurs should involve themselves directly and feel deeply the effects of the nation’s present economic situation. According to Professor Dr Tran Dinh Thien, deputy director of the Viet Nam Institute of Economics, the Government’s measures to stabilise the economy have been on the right track. "The problem now is to concentrate on solving the difficulties from grassroots level since the business community includes mainly … [Read more...] about How businesses can help curb soaring inflation
Five key numbers in Republican US tax revamp
US Speaker of the House Rep. Paul Ryan (R-WI) (centre) speaks during a news briefing after a House Republican Conference meeting at the Capitol in Washington, DC. (Alex Wong/Getty Images/AFP) It is a controversial plan that Trump's party insists will provide tangible benefits for most American families and businesses, and give the economy a shot in the arm. Comparative corporate tax rates. (AFP/Laurence CHU) Democrats say the plan is a giveaway to the wealthy, and no lawmaker in the opposition minority is publicly supporting the legislation.Here are five numbers that help explain the Tax Cuts and Jobs Act, which Trump aims to sign into law by Christmas.21 PER CENTThe tax rate for US corporations under the new plan. Trump has argued that the current US business tax rate, 35 per cent, is the highest in the developed world, and that cutting the rate substantially would make America more competitive globally.Earlier versions of the bill lowered the corporate rate to 20 per … [Read more...] about Five key numbers in Republican US tax revamp