Vietnam Finance 2015 Exhibition-Conference: the achievements of reform in taxation and customs.

 

Vietnam Finance 2015 Conference sight. 

 

At the opening ceremony, Deputy Minister Tran Van Hieu remarked that under the instruction of Vietnamese Prime Minister, MOF has drastically executed administrative reform in system, from the building, completing the system of mechanisms, policies and laws to organizing and executing, especially in taxation and customs.

 

 

In 2014, MOF ranked No. 2 out of 19 ministries in Administration Reform Index, announced by Ministry of Home Affairs. Rated 2-Up compared to 2013, the Ministry of Finance has succeed in implementing Resolution No. 19/NQ-CP of Vietnamese Government, especially administrative reform in Customs and Taxation.

Especially in Customs, state management procedure has been completely transformed from manual control method to automatic customs management method based on information and technology applications.

 

The application of Vietnam Automated Cargo Customs (VNACCS/VCIS) and National Single Window is a milestone in the reform and development of Customs. Up to now, this application has been deployed stably in 34/34 local Customs Departments and 171/171 Customs Sub-Departments in nation wide.

Stable operation of VNACCS/VCIS has contributed to Vietnam trade development, more than 99.65% of export declarations have been executed by VNACCS. In the first year of implementation (from 01/4/2014 to 03/31/2015), 56,000 companies have sent 6.74 million declarations via the system, with value of approximate USD 271.5 million.

Import and export taxpaying is now implemented automatically through exchanging information on tax amounts between Customs and commercial banks. That favors all related enterprises to pay taxes anytime, anywhere; saving time for tax payment. Customs supervision carries out by electronic application that reduces congestion at the port gates.

 

 

Customs has also stepped up deployment of National Single-Window and ASEAN Single-Window. At present, General Departments of Customs has connected with nine other Ministries and sectors; and has technically connected with ASEAN Single Window.

Achievements of reform by modernizing and applying information and technology has favored enterprises more than before in customs declaration, especially help them save time for import-export goods across border. Specifically, time for customs clearance on average decreases from 21 days to 14 days for export and to 13 days for import; so import-export cost reduces by 10% -20% and by 30% time for import-export customs clearance.
 

In taxation, there are more than 510,000 firms (98%) used electronic tax declaration and nearly 25 million tax declaration files have been received and processed online. At this moment, after implementing solutions under the authority of the MOF, Government, National Assembly, the number of hours for tax compliance has been reduced from 537 hours/year to 167 hours/year (down by 370 hours).
 

Based on deploying the above technological applications, estimated compliance cost is reduced by 705 billion / year for all import and export enterprises.
 

At the plenary session, reports and speeches have shown an overview about the reality in deploying IT applications in finance in general and in customs and taxation in particular. There were some remarkable presentationssuch as Administrative reform in finance sector in order to improve business environment, strengthen national competitive capability; Strategic program for administrative reform and IT application in customs in the period of 2016 - 2020; Orientation of administrative reforms in taxation in Vietnam; Incorporating Big Data into Financial Services Risk Management Analytics…
 

Besides, the workshop also has two other thematics, including: "Applying e-customs systems and implementing National Single Window: an effective way to simplify administrative procedures in customs” and “Taxation procedure reform through e-tax system ".

 

Vietnam Finance 2015 also has exhibition activities which attract the participation of many prestigious technology firms like Microsoft, Intel, CMC, Oracle, Viettel ICT, Thai Son...

 

 

This Exhibition-Conference also created a good opportunity for policy makers, companies and organizations providing IT solutions and IT community to discuss and propose IT solutions in economic and social development activities in general and the financial sector in particular.