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Many businesses are in danger of bankruptcy, the Vietnam Cassava Association sent a petition to the Prime Minister for help

Cassava
Vietnam
Published Mar 23, 2022

Tridge summary

Recently, the Vietnam Cassava Association (Vicaas) sent a petition to the Prime Minister about the cassava industry facing great difficulties and in danger of collapse when the General Department of Taxation issued an official letter No. 7/3 on the "value-added tax refund for cassava starch products". Accordingly, the General Department of Taxation directs local Tax Departments to verify foreign customers, leading to the refund and collection of value added tax (VAT) of cassava exporters.

Original content

While the current law on VAT refund does not stipulate that the tax refund dossier must be certified by foreign customers to be eligible for refund, the exporting enterprise also has no obligation as well as the capacity to verify the refund. foreign partners when signing contracts. Although the Prime Minister has issued two documents directing the Ministry of Finance and the Ministry of Industry and Trade to solve the problem of VAT refund for the cassava industry, but so far, the matter has not been resolved but even more difficult when the General Department Tax with official letter 632 mentioned above. The association believes that if Official Letter 652 is implemented, real estate enterprises will be bankrupt, affecting more than 1.2 million workers in the real estate industry and people's livelihoods. In the past 2 years, the cassava industry is facing many difficulties due to the COVID-19 epidemic, the amount of inventory is very large, many businesses no longer have money ...
Source: Vietnambiz
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