The Saigon Times Daily
According to the Government portal chinhphu.vn, the Prime Minister has ordered the fast streamlining of administrative procedures related to business establishment, re-arrangement and dissolution, and the gradual lifting of huddles to business and investment activities.
The Prime Minister wants the time for processing paperwork to be halved in the fields of business registration, re-arrangement and dissolution prior to December 31 this year.
The Ministry of Planning and Investment has been told to review and remove all procedures that make life hard for businesses, and improve the process and formalities required for business dissolution to make it easy for those who want to get out of the market.
In addition, the Government has told the agencies concerned to speed up the application of information technology and improve the capacity of staff responsible for business registrations.
The national business registration information network must be enhanced and the one-stop mechanism must be expanded to enable quick market entry for businesses.
The Government leader has also required the ministry to quicken the improvement of the Investment Law and revise existing legal regulations to clarify the prohibited business and conditional areas.
The Prime Minister has got the nod to a proposal by the Ministry of Finance on some tax solutions to help local businesses out of difficulties.
Earlier, the Ministry of Finance submitted the Government a number of tax measures to remove obstacles for enterprises. These are planned to be presented to the National Assembly for consideration and approval at the eighth session of the legislature starting next month.
The ministry proposed removing the filing of sold or purchased goods invoices with respect to the taxes being declared every month or quarter as the declaration is named as one of the main reasons for time-consuming tax procedures in Vietnam.
To assist businesses with advertising and marketing to boost sales, the ministry also proposed amending the regulations on advertising and promotional costs with a view to abolish the advertising cost cap or only control advertising expenditure rather than promotional and marketing costs.
A corporate income tax rate of 20% is applied this year and next to enterprises operating in the agriculture sector, employing over 300 workers and purchasing farm produce from farmers who do not live in poverty-stricken areas. From early 2016, these firms will enjoy a tax rate of 17%.
However, as the ministry said few businesses will be able to meet the 300-employee requirement, it proposed the rule be removed.
Đăng ký: VietNam News