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VIETNAM: Customs Procedures Set to be Streamlined with Launch of Online Tax Payment System from November

Businesses in Vietnam will soon be able to pay export and import duties online through an Electronic Customs Payment Portal, which is being piloted by the country’s General Department of Customs from November 2017.

As per the scheme, tax payers will be able to authorise duty payment at the customs department’s e-tax portal, which in turn will advise the participating banks to debit the tax payables from the tax payers’ accounts for onward remittance to the government. The e-tax payment scheme is being implemented in collaboration with five Vietnamese commercial banks, including Vietcombank, Vietinbank, BIDV, MB and Techcombank

The scheme is being launched to expedite the clearance of export and import items as well as to minimise errors during tax payment by tax payers directly through banks. It is also expected to help businesses cut down the paperwork and time they currently have to spend while dealing directly with banks for tax purposes.

Content provided by Picture: HKTDC Research
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