To simplify administrative procedures under the Ministry of Finance of Vietnam

To simplify administrative procedures under the Ministry of Finance of Vietnam (Internet image) 

Regarding this matter, LawNet would like to answer as follows: 

On May 14, 2024, the Prime Minister issued Decision 412/QD-TTg approving the plan to cut and simplify regulations related to business activities under the Ministry of Finance for the period 2024–2025.

To simplify administrative procedures under the Ministry of Finance of Vietnam

Decision 412/QD-TTg in 2024 cuts and simplifies regulations related to 6 business sectors within the scope of the Ministry of Finance's management functions for the period 2024–2025, including: Accounting services; appraisal services; finance and banking sector; tax sector; customs sector; and securities sector.

Specifically, for the accounting services business sector, Decision 412/QD-TTg in 2024 abolishes information about the date and place of issuance of the citizen's documents in the application form for issuance, reissuance of the certificate of registration for accounting services business... in order to enhance digitization and reduce document requirements based on information exploitation from the national database, specialized databases, and administrative procedure information system, providing convenience for individuals and organizations in implementation.

- For the finance and accounting sector:

Abolish the requirement for the document component "Judicial record form for managers, executives of enterprises" in order to reduce the document component being a copy of the judicial record form to comply with the regulations on standards and conditions for managers, executives of enterprises, helping to reduce time and costs for individuals, organizations in the following procedures:

+ Procedures for issuing, reissuing, adjusting, and extending the Certificate of eligibility for horse racing betting, dog racing betting.

+ Procedures for issuing the Certificate of eligibility for international football betting.

+ Procedures for issuing, reissuing, adjusting, and extending the Certificate of eligibility for casino business.

In addition, amend the information field about citizen's documents in the application form for issuing the Certificate of eligibility for supplementary voluntary pension fund management service, specifically replacing the phrase "Identity card/Passport number..." with "Identity card/Citizen identification card/Identification card/Passport number..." for procedures of issuing, reissuing, adjusting the Certificate of eligibility for supplementary voluntary pension fund management service.

To enhance digitization and reduce the document component based on information exploitation from the national database, specialized databases, and administrative procedure information systems, providing convenience for individuals and organizations in implementation.

- For the business sectors in the tax field: supplement the method of implementing administrative procedures on the electronic environment for administrative procedures related to personal income tax reduction, business households, individuals doing business facing difficulties due to natural disasters, fires, accidents, serious illness, and poverty in order to facilitate the implementation of administrative procedures for the subjects.

- For the business sectors in the customs field, the procedure for recognizing priority enterprises in the customs field has simplified the conditions for implementing the procedure for recognizing priority enterprises by reducing the requirements for export and import turnover within the year for entities that are small and medium-sized enterprises.

Currently, according to statistics from the General Statistics Office, small and medium-sized enterprises account for over 97% of the total number of enterprises in the country. Reducing the requirements for export and import turnover within the year aims to create favorable conditions for small and medium-sized enterprises to be recognized as priority enterprises, facilitating these enterprises in shortening customs clearance time and enhancing supply chain efficiency.

More details can be found in Decision 412/QD-TTg, which comes into force from  May 14, 2024.

Nguyen Ngoc Que Anh

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