Businesses take only five minutes now to pay export and import duties after two months a circular on tax declaration and payment was released by the Ministry of Finance, reported the General Department of Vietnam Customs.
|Taxpayers at HCMC Taxation Department (Photo: SGGP)|
Earlier it took 30 minutes for businesses to do export and import tax formalities.
The tax declaration of export and import goods has been simplified to reduce time and costs for both businesses and customs agencies. Businesses can make payments during and outside office hours, in off days, and via modern payment channels such as the Internet and ATM system.
Customs agencies will be updated with online tax payment transactions every 15 minutes instead of an hour as before.
According to the General Department of Vietnam Customs, a total of VND10,499 billion (US$492 million) taxes were paid through commercial banks for the last 11 months with more than 68,100 transactions from 63,200 tax returns.