Provincial Tax Department in dialogue with Korean businesses

Update: 15-09-2022 | 12:23:34

Early September 14, Binh Duong provincial Tax Department held a dialogue with Korean businesses investing in Binh Duong in 2022 in an activity to meet up and reflect on problems to fulfill tax obligations to the State. Attending the event was Mr. Kim Won Sik, Chairman of the Korean Business Association (Kocham) in Binh Duong and nearly 40 Korean enterprises of production and business operations in the province.

The talk is between Binh Duong provincial Tax Department and Korean enterprises

At the conference, a number of important new tax policy contents effective from 2022 were communicated and disseminated along with the sharing transfer pricing test cases and a dialogue to response to problems arising in the implementation of tax policy in 2020. The participating enterprises raised a number of questions around procedures related to identification of applications, registration fee calculation on changing names on land use right certificates, registration fee calculation process and procedures, contractor tax on loans at 2 Korean banks, processing of output invoices as the supplier unilaterally cancels the invoices, some costs related to bank loans that are included in reasonable expenses, some problems related to the refund of corporate income tax, reduction of corporate income tax payable in 2020 among others.

An unnamed representative of enterprises is speaking at the conference

Representatives of the provincial Tax Department extended specific and detailed reply to each content for businesses to grasp up and to perform better in the coming time.

Reported by Thanh Hong – Translated by Vi Bao

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Provincial Tax Department in dialogue with Korean businesses

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