3:26:42 PM | 7/8/2005
Lots of setbacks are facing
Most of business representatives at the meeting complained that a 20% increase in corporate income tax over last year without being based on enterprises’ plan as projected by the General Department of Taxation was not reasonable.
Moreover, the new difficulty this year was bond regulations by the
Delegates agreed on administrative sanctions on seafood exporters, which were late in paying tax as, stated in Circular 87/2004/TT-BTC but claimed that the sanctions should be based on objective and subjective reasons for exporters to pay tax late. The objective reason here was that they could not ship goods in the period between June and December 2004 as at that time they had to cope with the US-triggered anti-dumping case.
The Minh Phu Seafood Company complained that procedures for tax refund were complicated and time-consuming, taking importers between 20 and 30 days. Moreover, taxation regulations often caused misunderstanding during implementation.
There were no specific guidelines to enterprises to go through procedures for food sanitation. It took exporters months to finish these procedures. Many seafood plants asked for land to expand their production but had to wait for too long. The Kim Anh Limited Company had imported equipments but there was still no land and it had to pay large amount of interest for banking loans.
Delegates proposed corporate income tax exemption or reduction for some certain enterprises and time for the tax payment was the end of year. Import duty on waste materials should be abolished as those materials were for production of stock fodder and aqua-feed for export and firms then had to pay export duty.
Sanitation check on iced material seafood imported for production of seafood for export should also be eliminated and customs procedures needed to be further simplified.
Vneconomy
Vietnamese
