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Dialogues clarifies tax matters for RoK businesses
The General Taxation Department (GTD) offered detailed explanations in response to questions relating to tax policies and tax management raised by the Republic of Korea (RoK)’s enterprises operating in Vietnam at a dialogue in Hanoi on Sept. 22.
Most of the questions concerned the revised Corporate Income Tax, the Personal Income Tax and the revised Value Added Tax which will be effective as of early 2009.
GTD officials also mentioned the agency’s administrative reform plan in the future, including the pilot implementation of electronic tax declaration applied to Vietnam-based RoK businesses.
The agency affirmed that many RoK businesses have performed well in Vietnam and complied with Vietnamese tax regulations, thus helping contribute to the State budget.
RoK businesses have cooperated closely with local tax agencies in order to improve tax administrative procedures with the aim of facilitating their operation in Vietnam .
As the third largest foreign investor in Vietnam , RoK businesses have contributed to boosting the country’s economic growth and creating new jobs for local people.
VNA
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