What is reciprocal tariff? What are regulations on tax administration in Vietnam?

What is reciprocal tariff?

Reciprocal tariff is a type of tariff applied based on the principle of reciprocity between countries or regions. It often appears in international trade policies to ensure fairness in taxation between parties.

Reciprocal tariff is applied when a country taxes goods or services imported from another country at a similar rate to that which it applies to its own exported goods. It is used to protect trade interests and maintain fairness in economic relations between countries.

Example of reciprocal tariff:

- If Country A imposes a 10% tax on goods imported from Country B, Country B may also apply a similar tariff on goods imported from Country A.

- In bilateral relations, countries may agree to exempt reciprocal tariffes to promote free trade.

reciprocal tariffes often appear in trade agreements or as retaliation measures in international trade disputes.

Information is for reference purposes only!

What is reciprocal tariff? What are regulations on tax administration in Vietnam? (Image from the Internet)

What are regulations on tax administration in Vietnam?

Based on Article 4 of the Law on Tax Administration 2019, the content of tax administration includes:

- Tax registration, tax declaration, tax payment, tax determination.

- Tax refund, tax exemption, tax reduction, non-collection of tax.

- Tax debt rescheduling; debt write-off of tax, late payment, fines; waiver of late payment, fines; non-calculation of late payment; extension of tax payment; gradual payment of tax debt.

- Management of taxpayer information.

- Management of invoices and documents.

- Tax inspection, tax examination, and implementation of measures to prevent and combat tax law violations.

- Enforcement of administrative decisions on tax administration.

- Handling administrative violations in tax administration.

- Settlement of complaints and denunciations about taxes.

- International cooperation on taxes.

- Propaganda and support for taxpayers.

What are the current tasks of the tax authority in Vietnam?

According to the provisions of Article 18 of the Law on Tax Administration 2019, the tax authority has the following duties:

(1) Organizing the implementation of tax collection management and other collections under the state budget according to tax legislation and related legal provisions.

(2) Propagating, disseminating, and guiding tax laws; announcing tax procedures at the headquarters, websites of the tax authority, and in mass media.

(3) Explaining and providing information related to determining tax obligations to taxpayers; tax authorities are responsible for disclosing the payable tariffs of household businesses, individual businesses in communes, wards, or commune-level towns.

(4) Protecting taxpayer information, except for information provided to competent authorities or information publicly disclosed according to legal regulations.

(5) Implementing tax exemptions; tax reductions; debt write-off of tax, late payment, fines; waiver of late payment, fines; non-calculation of late payment; extension of tax payment; gradual payment of tax debt; tax debt rescheduling, non-collection of tax; handling overpaid taxes, late payments, fines; tax refunds following the provisions of this Law and other relevant legal provisions.

(6) Certifying the fulfillment of tax obligations of taxpayers upon request according to legal regulations.

(7) Resolving complaints and denunciations related to the enforcement of tax laws under authority.

(8) Issuing records, conclusions, tax handling decisions after tax inspection, tax examination to taxpayers and explaining upon request.

(9) Compensating taxpayers for damages under the provisions of state liability for compensation.

(10) Appraising to determine the amount of tax payable by taxpayers at the request of competent state authorities.

(11) Developing and organizing an electronic information system and applying information technology to conduct electronic transactions in the field of taxation.

Which agencies are included in the tax authority in Vietnam?

The tax authority includes the agencies specified in Clause 2, Article 2 of the Law on Tax Administration 2019 specifically as follows:

Entities Subject to Application

1. Taxpayers include:

a) Organizations, households, household businesses, individuals paying tax as per tax legislation;

b) Organizations, households, household businesses, individuals paying other collections under the state budget;

c) Organizations, individuals withholding taxes.

2. tax administration authorities include:

a) Tax authorities include the General Department of Taxation, Tax Departments, Tax Sub-departments, Regional Tax Sub-departments;

b) Customs authorities include the General Department of Customs, Customs Departments, Post-Clearance Audit Departments, Customs Sub-departments.

3. tax administration officials include tax officials, customs officials.

4. Other state agencies, organizations, and individuals related.

The tax authority includes:

- Tax authorities, which consist of the General Department of Taxation, Tax Departments, Tax Sub-departments, and Regional Tax Sub-departments;

- Customs authorities, which include the General Department of Customs, Customs Departments, Post-Clearance Audit Departments, and Customs Sub-departments.