Following the notice of “New regulations on insurance, investment and commerce coming into force as from June 01”, would like to introduce certain noticeable contents included in new regulations on tax and fees which are coming into force as from the beginning of June (from 02nd to 10th of June, 2017). To be specific:
1. Reduction of time limit for refunding value-added tax (VAT)
This is one of new contents included in the Circular No. 31/2017/TT-BTC which comes into force as from June 02, 2017 and provides for amendments to the Circular No. 99/2016/TT-BTC on management of VAT refund.
According to the said Circular, tax refund is given to the taxpayer within 1 working day (previously 03 working days) as from the receipt of:
- The order to refund payment to government budget; or
- The order to refund and deduction of payment to government budget sent by the tax authority.
2. Organizing import quota auctioning in 2017 to import 89,500 tonnes of sugar
This content is mentioned in the Circular No. 05/2017/TT-BCT providing for sugar import quota auctioning in 2017.
According to the said Circular, the tariff-rate import quota on sugar (HS Code: 1701) is 89,500 tonnes in 2017.
The Circular No. 05/2017/TT-BCT takes effect from June 05, 2017 to December 31, 2017.
3. Fees for processing of applications for license to perform topographic and cartographic activities
The Circular No. 34/2017/TT-BTC provides detailed regulations on fees for processing of applications for new license or modification to license to perform topographic and cartographic activities, consisting of:
- Fees for applications processed by Department of Survey, Mapping and Geographic Information of Vietnam.
- Fees for applications processed by Provincial Departments of Natural Resources and Environment.
Detailed fees are specified in Article 3 of the Circular No. 34/2017/TT-BTC (which is coming into force as from June 08, 2017).