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Official Gazette

Friday, October 7, 2022

IFC helps simplify tax-related procedures

Updated: 10:53’ - 24/07/2008

The General Department of Taxation and the International Finance Corporation (IFC) signed a memorandum of understanding on technical cooperation to improve business environment and raise enterprises’ sense of tax payment voluntariness through simplified tax procedures and reduced time and costs.

The signing ceremony was held on July 17 in Hanoi at a conference on simplification of tax-related administrative procedures for small- and medium-sized enterprises (SMEs) in Vietnam.

In simplifying tax-related procedures, focus should be made in four domains, namely reforming tax instruments by reducing arbitrariness and increasing transparency; simplifying processes and procedures and re-designing modes of tax-related administrative services; integrating simplification into business licensing/state administration programs; and designing and providing services for SMEs, said FIAS program director Richard Stern.-

 

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