Firms expect customs improvements

Nov 4th at 13:51
04-11-2015 13:51:26+07:00

Firms expect customs improvements

Businesses expect further improvements in customs clearance to promote management efficiency while creating convenience in cross border trade, a conference heard yesterday.

 

Held by the General Department of Customs, Japan International Co-operation Agency (JICA) and USAID's Governance for Inclusive Growth Programme, the conference aimed to review the Viet Nam Automated Cargo and Port Consolidated System (VNACCS/VCIS) after one and a half years in operation and listen to the opinions of firms to improve the system.

According to Dao Thi Thu Thuy from the General Department of Customs, a survey of more than 300 businesses revealed that 95 per cent of them were satisfied and very satisfied with the automated customs clearance system.

A representative from Brother Industries Viet Nam said that the system helped save time, human resource and money spent in customs declaration, estimated to save around 100 hours and more than US$12,000 per month for his company.

Still, the system needed to be further improved as businesses found some inconveniences such as limited space for customs declaration, slow feedback and support.

Thuy said that the system currently operated only 50 per cent of its functions and needed the co-ordination of relevant ministries and organisations to ensure that all procedures were conducted online.

Au Anh Tuan, deputy director of the Customs Control and Supervision Department, said the system would be improved to reduce time for customs clearance and tighten management of imports and exports. The system including e-customs declaration, e-invoicing and e-payment among others, was put into operation on April 1, 2014 and now all customs departments nationwide conducted customs procedures through the system.

E-customs and e-tax payment systems were among administrative reform efforts of Viet Nam to improve its business climate.

Statistics from the Finance Ministry revealed that as of October 26, more than 90 per cent of businesses registered to pay tax online and that 98 per cent registered to conduct tax filings online.

In the latest report on the ease of doing business announced late last month, the World Bank ranked Viet Nam 90th out of 189 countries, moving three grades up.

bizhub



NEWS SAME CATEGORY

VAMC cuts rates on NPLs denominated in euros, dong

The Viet Nam Asset Management Company (VAMC) has cut the applicable interest rates by 0.3 per cent of the Vietnamese dong and the euro for non-performing loans...

Special regulations suggested to expedite sales of debts

The chairman of the Viet Nam Asset Management Company (VAMC) has recommended the National Assembly issue special legal regulations to expedite the current sluggish...

Investors cautious over bank shares

Though local state-owned enterprises wishes to sell stakes in banks to which they contributes capital, no foreign investors want to buy such stakes unless the...

Manulife locks in bancassurance deal

This September, Manulife Vietnam officially became the exclusive long-term partner to distribute bancassurance solutions for Saigon Joint Stock Commercial Bank...

Vietnam’s public debt won’t exceed limit by 2020: minister

National debt and budget deficits overshadowed a press conference between the Vietnamese government and local media on Thursday, but top officials reassured them...

Ministry talks taxes with businessmen

Finance leaders and more than 500 business representatives sat together yesterday in Ha Noi to discuss and answer questions raised by businesses relating to tax and...

Banknetvn to provide payment services

The Viet Nam National Financial Switching JSC (Banknetvn) can now provide payment intermediary services, after being granted a licence by the central bank on...

MoF denies banks tax breaks despite restructuring efforts

The Ministry of Finance has refused to offer preferential tax policies to credit institutions that are participating in the restructuring of the banking sector.

Transfer pricing office opens in bid to mitigate tax fraud

The Ministry of Finance yesterday in Ha Noi announced the establishment of the Office for Transfer Pricing Inspection under the General Department of Taxation.

BIDV MetLife to expand to meet local consumers’ needs

The foundations for developing the Vietnamese insurance market are solid. Dustin Ball, CEO of BIDV MetLife, talked to VIR about the current situation and potential...

Bank stocks

Insurance stocks


MOST READ


Back To Top