To implement the direction of the Provincial People’s Committee, on August 29th, the Department of Industry and Trade have collaborated with the State Bank in Quang Ninh, Provincial Tax Department to provide solutions to deal with difficulties of the export enterprises to help them complete their tax payment.
At the meeting, enterprises have candidly revealed their difficulties and obstacles in completing cross border payment for VAT reimbursement. From July 1st, 2011, Chinese banks have stopped providing cross border payment service for credit organizations of Viet Nam . This incident has seriously impacted on goods exporting activities of the enterprises because the payment will not satisfy the conditions of tax reimbursement under the State’s regulations.
To solve the problems, the provincial authorities have sent official document to the Ministry of Finance, the State Bank of Viet Nam to consult about the solutions to deal with the difficulties of the enterprises. The Ministry of Finance has then discussed with the State Bank to identify cases of payment for exported goods through the current account opened at the banks in Vietnam by foreign partners.
After being instructed by the Department of Industry and Trade , the Tax Department, and the State Bank branch in Quang Ninh, enterprises have undertaken the payment procedures through their current accounts so that the VAT can be refunded according to the current regulations.
