The General Department of Taxation is accelerating the review of the content of the draft Decree amending and supplementing Decree 123. Photo: H.Anh

According to Deputy Director General of the General Department of Taxation Dang Ngoc Minh, the promulgation of Decree 123 is a significance in transforming the management method and use of invoices in production and business activities, boosting the development of e-commerce and helping save costs for businesses and society.

However, after a period of implementation, from grasping the developments of the economy and the actual situation of domestic production and business, the General Department of Taxation assessed that Decree 123 has revealed several shortcomings and the revision of Decree 123 is a must to meet the reality and contribute to reforming administrative procedures in the direction of creating maximum convenience for taxpayers.

On August 29, 2023, the Ministry of Finance issued Official Dispatch No. 9206/BTC-TCT to gather opinions from ministries and ministerial-level agencies; Government agencies; the Vietnam Fatherland Front ( VFF ) Central Committee; People's Committees of provinces and cities; Vietnam Chamber of Commerce and Industry (VCCI) and the business community on the draft Decree amending and supplementing Decree 123.

After more than two months of collecting opinions, the General Department of Taxation has gathered opinions from ministries and ministerial-level agencies and tax departments nationwide and the business community at the consultation workshop jointly held by VCCI and the General Department of Taxation.

According to Director of the Policy Department Luu Duc Huy, implementing the instructions of the Ministry of Finance and the General Department of Taxation, the Policy Department has organized many meetings and asked for opinions from relevant agencies and organizations and experts and managers in the field of taxation.

“To this date, the draft has basically been completed, however there are still different opinions that need to be reviewed carefully to fine the best solution but the revision must aim at creating maximum convenience for taxpayers as well as the overall development of the country's economy as directed by the leader of the General Department of Taxation," Director Luu Duc Huy said.

After synthesizing opinions of units, the Policy Department continues to complete the draft Decree. In the coming time, the General Department of Taxation will continue to organize meetings, seminars, and discussions with the participation of experts to review the draft Decree amending and supplementing Decree 123 to ensure the requirements of contents and meet the target set by the Ministry of Finance and the General Department of Taxation.

Previously, the General Department of Taxation had a working session with VCCI leaders, the Vietnam Tax Consulting Association and some domestic and foreign businesses to exchange and receive opinions on completing the Decree amending and supplementing Decree 123/2020/ND-CP; and build objective and transparent policies, creating favorable conditions for businesses, people as well as tax management agencies.

At the meeting with VCCI, Deputy Secretary General, Head of the Legal Department of VCCI Dau Anh Tuan said that the business community appreciates the spirit of the General Department of Taxation in developing tax policies and contents amending Decree 123. The consulting of businesses many times to amend legal policies is a thorough and appropriate approach. VCCI supports to the revision of Decree 123 in the direction of openness and transparency to protect consumers and businesses, thereby ensuring feasibility and having a clear roadmap for businesses to implement, not to increase costs too much, causing disadvantages to production and business activities as well as the competitiveness of businesses.