A dialogue on Vietnam’s new tax and customs policies was held in Seoul, the Republic of Korea (RoK), last week, drawing the participation of 118 local businesses.
The dialogue took place as part of a working visit to the RoK by a Vietnamese Finance Ministry delegation led by Deputy Minister Do Hoang Anh Tuan.
After briefing about Vietnam ’s tax and customs policies, the Vietnamese delegation answered RoK businesses’ questions on the country’s tax incentives, corporate taxes, value added tax and new regulations on customs procedures.
Tax incentives and relevant policies are always the leading interests of RoK businesses, Deputy Minister Tuan said, adding that more than 70 percent of RoK businesses investing in Vietnam are small and medium sized ones so they face difficulties in accessing policies and dealing with issues on procedures and tax incentives.
Tuan said that Vietnam’s Finance Ministry and General Department of Taxation have planned to coordinate with RoK authorised agencies in facilitating RoK businesses’ operations in Vietnam .
According to Tuan, this was the first dialogue between the two sides since their tariff cooperation agreement was signed.
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