Pursuant to this Circular, the maximum processing time for taxpayers' VAT refund claims, which is 03 business days as currently prescribed, will be shortened to no more than 01 business day after the date of receipt of the Order for reimbursement of state budget receipts/ the Order for reimbursement and reconciliation of state budget receipts from tax authorities.
Additionally, the following provisions are specified in this Circular:
- The Taxation Department is obliged to promptly update and keep a full record of tax refund decisions/decisions on tax refund and reconciliation of state budget receipts in the tax administration application system on the issue date;
- Upon completion of such record keeping activity, the Taxation Department proceeds with forwarding these decisions to the State Treasury within that day, or no later than the following business day.
The Circular No. 31/2017/TT-BTC enters into force from June 2, 2017.
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