South Korean firms plead misunderstanding of law

South Korean companies operating in Vietnam sometimes misinterpret new corporate tax and customs regulations and end up flouting them, Korean executives explained at a meeting with finance ministry officials Friday.

Korean firms generally respect Vietnamese laws but are sometimes confused by new regulations, deputy general director of Lotteria Vietnam, Dao Manh Ha, said at the meeting in in Ho Chi Minh City.

Lotteria – a joint venture between Korean and Vietnamese firms – imported potatoes for its fast food restaurants but declared the imports using incorrect customs codes and so delayed tax payments, he said.

Sam Han Lee, General Director of S&S Auditing and Consulting Company, said sometimes language is an obstacle for South Korean firms.

They are assisted by their Vietnamese employees but are still sometimes unable to overcome this problem, he said.

“We hope Vietnamese officials understand and help us get the hang of the regulations,” Lee said at the first such meeting between the community and the ministry since the introduction of new laws on value-added and personal income taxes and new customs regulations.

Pham Duy Khuong, Deputy Director of the General Department of Taxation, promised the ministry would help businesses with import and export procedures and individuals with tax declarations.

Minh Quang

thanhnien

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