The e-payment of import-export duties has increased ten percent to 63percent after a circular aiming to streamline tariff payment processeswas enforced, an official said.
Lo Thi Nhu,Director of the Import-Export Duty Department under the GeneralDepartment of Vietnam Customs, said Circular 126/2014/TT-BTC has helpedsaved time and resources of businesses and State managerial agencies.
The Ministry of Finance’s circular, taking effect onOctober 1, 2014, stipulates procedures for declaration, collection, andpayment of taxes as well as overdue interest, fines, and other chargeson exports and imports. It focuses on the e-payment of export-importduties with a view to minimise payment processes.
Ata meeting reviewing the circular on June 19, participants heard that itonly takes five to seven minutes for customs clearance using e-paymentsystems instead of the prior 30-minute wait time.
It only takes five seconds for goods to be cleared after customsagencies’ e-payment gateways receive a notification that the banks havetransferred the tax funds.
Enterprises can also pay duties at various locations, during or outside working times and on days off.
The meeting in Ho Chi Minh City was held by the General Department ofVietnam Customs and the Governance for Inclusive Growth Programme of theUS Agency for International Development, which looks to promote customsmodernisation and trade in Vietnam.-VNA
Lo Thi Nhu,Director of the Import-Export Duty Department under the GeneralDepartment of Vietnam Customs, said Circular 126/2014/TT-BTC has helpedsaved time and resources of businesses and State managerial agencies.
The Ministry of Finance’s circular, taking effect onOctober 1, 2014, stipulates procedures for declaration, collection, andpayment of taxes as well as overdue interest, fines, and other chargeson exports and imports. It focuses on the e-payment of export-importduties with a view to minimise payment processes.
Ata meeting reviewing the circular on June 19, participants heard that itonly takes five to seven minutes for customs clearance using e-paymentsystems instead of the prior 30-minute wait time.
It only takes five seconds for goods to be cleared after customsagencies’ e-payment gateways receive a notification that the banks havetransferred the tax funds.
Enterprises can also pay duties at various locations, during or outside working times and on days off.
The meeting in Ho Chi Minh City was held by the General Department ofVietnam Customs and the Governance for Inclusive Growth Programme of theUS Agency for International Development, which looks to promote customsmodernisation and trade in Vietnam.-VNA
