According to the Tax Department (Ministry of Finance), the conversion from contract to declaration is not an additional procedure, but a change in approach and confidence.
On the basis of placing the trust in taxpayers to self-declare and pay taxes based on actual revenue, tax authorities focus on their role in supporting, authenticating and ensuring fairness through electronic data.
Current reality shows that the contracting method reveals limitations in fairness and transparency. While businesses have specialized management tools and human resources, many business households are still used to operating according to experience, do not have books, and are still afraid of technology and procedures.
This has caused the implementation of support measures by tax authorities such as electronic invoices and electronic tax services to not achieve the desired results.
Therefore, the Tax sector aims to support HKD to access and enjoy the same policies as enterprises, towards transparency and fairness. When fully recording revenue and expenses, HKD will clearly understand business efficiency, self-adjust plans, and improve competitiveness.
Every transaction via invoices and electronic payments will create prestige, have legal value and opportunities to access capital and new customers, helping HKD enter an official economy and confidently develop.
Accordingly, tax declaration and payment on actual revenue is the foundation for Hong Kong's sustainable development because it is a necessary tool to form a transparent, fair and truly competitive business environment.
When HKD proactively declares actual revenue, the State has accurate data to build credit, insurance, vocational training policies and appropriate support, helping households access development resources such as businesses.
In addition, the declaration method also creates a habit of financial management, recording revenue and expenses clearly, helping households clearly understand operational efficiency, reduce risks and make more correct business decisions.
Thanks to that, HKD has gradually shifted from the informal sector to the formal sector, with protected rights, investment incentives and scale expansion. That transparency and proactiveness is the foundation for HKD to develop sustainably based on real capacity, real information and real opportunities.
In addition, the Tax sector also implements support, guidance, training programs, coordinating with solution providers to provide free or low-cost software, making it easier and most convenient for HKD to access.
To improve the efficiency of data connection, especially data on electronic invoices, the Ministry of Finance is increasing exchanges and cooperation with the Ministry of Public Security, banks, business registration agencies, social insurance, etc. to form a Big Data system and a unified and seamless information system. In particular, standardizing personal tax codes to match citizen identification numbers will help best management, avoiding duplication, often omission, or tax fraud.
Along with that, the Tax sector also closely coordinates with People's Committees at all levels, the Vietnam Federation of Commerce and Industry (VCCI), professional associations and unions in propaganda, training, and mobilization of HKD to comply with legal regulations on invoices and tax laws.
In particular, local authorities are encouraged to develop credit support programs, premises, and startups, helping HKD have the conditions to move to a business when they have enough capacity.
