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In the dialogue, Mr. Le Hoang Tung, Vietcombank’s chief accountant, wondered about the regulations that establish that banks should be responsible for withholding income tax with money received from Google, Facebook … – Photo: L.THANH
In the dialogue on tax and customs policy held on November 24, Mr. Le Hoang Tung, Vietcombank’s chief accounting officer, asked how commercial banks will provide customer account information.
In addition, Mr. Tung also stated in the decree 126 that commercial banks are required to withhold income tax at source by electronic transaction revenue arising from Google, Facebook …
However, Mr. Tung said that commercial banks, payment intermediaries are essentially payment services. Therefore, in practice, banks and payment intermediaries lack information to determine how much money is related to the taxable income to determine the tax liability of customers.
“It is difficult for banks to meet this obligation, so we expect to have specific instructions to comply with regulations,” said Mr. Tung.
Responding to the questions on the provision of customer account data raised by the representative of Vietcombank, according to Mr. Dang Ngoc Minh, Deputy Director of the General Department of Taxation, the Tax Administration Law stipulates the responsibilities of commercial banks to provide . Information on the taxpayer’s account data for the tax authorities. To implement this regulation, the tax authority will be required to provide an account for specific cases and issues in the order. In the next time, the General Tax Department will coordinate with the State Bank and the credit institutions to promulgate regulations and procedures to provide the data of the clients’ payment accounts.
“The tax authority does not require the bank to provide full account and balance payment of all customers. The request banks to provide account information, the transaction is primarily for inspection., Check. How the tax authority knows how many people receive income from Facebook, YouTube … to ask the taxpayer to declare and pay taxes in full “- Mr. Minh Minh believe more talking to Online youth.
Regarding the tax deduction obligations of clients that credit institutions must meet, Mr. Minh said that if organizations providing cross-border services do not register taxes directly in Vietnam, For Vietnam payments abroad, institutions credit will withhold tax. The General Tax Department will have specific instructions on the issues and cases, the commercial banks will make the deductions.
At this point, the General Department of Taxation will invite foreign border services providers to work so they can authorize consultants in Vietnam to testify on behalf of or directly meet their tax obligations. I. Like Netflix, it pays 5% value added tax and 5% corporate income tax.
It is impossible for the business to remain stagnant forever but not solve it
About 500 companies from 25 northern provinces and 5 central provinces attended the dialogue conference on taxes and customs held by the Ministry of Finance and the Vietnam Chamber of Commerce and Industry (VCCI) on November 24 in Hanoi.
After more than 4 hours of dialogue, a series of hot topics have been raised, such as that many companies worry about being fined for late payment of taxes when Decree 126 establishes that the amount of corporate income tax paid temporarily during the first 3 quarters of the year it is not less than 75% of the total tax payable during the year. In the event that the temporary payment is less than this rate, the company will be charged the late payment of the underpaid tax.
Acknowledging the opinions of the companies, Mr. Dang Ngoc Minh, Deputy Director of the General Tax Department, said that this regulation has not been applied in the last year of 2020. At this point, the General Tax Department will develop a circular to guide and inform. to the competent authority for your request from the 2021 tax period onwards.
As for the classification and HS codes for goods imported it is also a problem that many companies frustrated look when there are different ways to apply the code of the customs office with the code of the Ministry of Agriculture and Rural Development on seeds . imported crops. Responding to this content, the deputy director of the General Customs Department Mai Xuan Thanh asked to receive and promise to coordinate with the Ministry of Agriculture and Rural Development in the review of having a uniform code, but it is impossible for a product to have two codes.
Thanks to the reflection of the companies, right at the conference, Ms. Vu Thi Mai, Deputy Minister of Finance, assigned the General Customs Department to work soon with the relevant agencies to eliminate difficulties for companies. “Do not let business problems forever, but still can not be solved” – emphasized Ms Mai.
