Electronic payment of custom duties and taxes through commercial banks in Vietnam

Electronic payment of custom duties and taxes through commercial banks in Vietnam

 To enhance administrative reform, reducing the clearance time and tax payment duration, to facilitate the taxpayers, modernization budget collection, Vietnamese Ministry of Finance issued Circular No.126/2014/TT-BTC dated 28 August, 2014. On 05 March 2015, Vietnamese General Customs issued Official Letter No. 1796/TCHQ-TXNK promoting electronic payment of custom duties and taxes through commercial banks in Vietnam, which brings many benefits to taxpayers, such as:

I. Procedures simple, convenient, namely:

 Taxpayers shall make a copy of the list of tax payment, declare the minimum information.

 Where the taxpayer present a commercial bank a valid list of tax payment, the commercial bank shall debit account’s taxpayer and transfer to the State Treasury account and transfer data (online) through electronic payment gateway of Customs. Upon receipt of data (online) from commercial banks, system of the customs authorities will credit account, clearance of goods for enterprise.

II. Reduce the time of customs procedures, customs clearance, thereby reducing the costs incurred by the enterprises;

III. To be settled tax payment, clearance of goods and be considered tax grace by the customs authorities immediately after receives taxpayer’s information from commercial banks.

IV. The taxpayer is selected the modern, diversified payment services of state budget revenues offered by the commercial banks such as: ATM, Internet banking, Mobile banking.

V. The problems in budget revenues will be resolved by commercial banks and customs authorities quickly and promptly.

 As of 01 March 2015, Vietnamese General Customs signed agreement on Electronic payment of custom duties and taxes through 17 commercial banks in Vietnam as follows:

 1. Bank for Investment and Development of Vietnam (BIDV)
 2. Bank for Industry and Commerce of Vietnam (VietinBank)
 3. Military Commercial Join Stock Bank (Mbbank)
 4. Bank for Foreign Trade of Vietnam (Vietcombank)
 5. Vietnam International Bank (VIB)
 6. Vietnam Technological and Commercial Bank (Techcombank)
 7. Export – Import Bank of Vietnam (Eximbank)
 8. Bank for Agriculture and Rural Developemtn of Vietnam (Agribank)
 9. Maritime Commercial Join Stock Bank (Maritimebank)
 10. Vietnam Prosperity Commercial Join Stock Bank (Vpbank)
 11. Ho Chi Minh City Development Bank (HDBank)
 12. Mekong House Development Bank (MHB)
 13. Orient Commercial Join Stock Bank (OCB)
 14. Australian and New Zealand Bank Vietnam (ANZ Vietnam)
 15. An Binh Bank (ABbank)
 16. Post Liên Việt Bank (LienVietPostBank)
 17. Petrolimex Bank (PGbank)

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