Samsung to get 582 billion VND in VAT refund if it submits documents on time

Lục Giang |

Samsung is expected to receive a refund for value added tax if all documents are submitted on time.

At the Dialogue Conference between Ho Chi Minh City leaders and Korean enterprises on March 25, Mr. Kwon Choon Ki, General Director of Samsung Electronics HCMC CE Complex (SEHC) said that this enterprise has not received a refund of VND 582 billion in value-added tax (VAT) in the past 3 years, causing the company to face difficulties in business.

Regarding the value -added tax refund for Samsung Company, at the Financial Practical press conference of the Ministry of Finance, taking place on 3.4, Mr. Mai Son - Deputy Director of Tax Department - said that the key to the problem lies in on -site export activities. This is the content that has caused many different interpretations during the implementation process.

According to Mr. Mai Son, in recent times, the Ministry of Finance, the General Department of Taxation and customs agencies have issued many instructions to remove obstacles and facilitate businesses. In particular, guidelines related to on-site export activities have been issued for unified implementation in the whole industry.

Most recently, on March 28, the tax and customs authorities had a direct working session with representatives of Samsung Company. At the meeting, the enterprise committed to providing complete tax refund documents by April 10 at the latest. If the dossier is submitted on time, the tax authority plans to issue a tax refund to the enterprise within 5 working days.

This is one of the documents that the tax authority is closely monitoring to ensure the processing progress according to regulations. Previously, Samsung's tax refund file had to be checked before and after, due to the contents that needed to be carefully verified, especially related to the on-site export mechanism.

The representative of the Tax Department also said that currently, about 80% of annual tax refund records are processed in the form of "pre-ordering, post-inspection", applied to enterprises with good compliance levels. Only about the remaining 20% are subject to "pre- check and post-recharge", often falling into cases of first-time tax refunds or having risk factors.

The number of dossiers with problems due to policies or high risks only accounts for a small proportion of the total number of tax refund dossiers. The tax sector always tries to coordinate with businesses and relevant agencies to handle it promptly, limiting congestion, Mr. Mai Son emphasized.

Responding further about the policy, Mr. Mai Son said that in order to make tax refunds smooth, the tax authority has also reported to the National Assembly Standing Committee in recent explanation sessions, and regularly reviewed and updated regulations to ensure compliance with the production and business practices of enterprises.

The tax sector affirmed to continue to receive feedback from the business community and relevant agencies to perfect mechanisms and policies, towards the goal of publicity, transparency and efficiency in tax refund work.

Lục Giang
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