Textile enterprises seek extension in tax payment term
17 Apr '06
1 min read
Vietnamese inter-ministries of Trade and Industry has sent an official letter to propose General Custom Department to adjust the term in which textile and garment enterprises have to pay import and VAT taxes, industrial sources said.
According to the enterprises' complaint, the present regulation of 30 day-term for taxes payment is not rational, as a production cycle takes at least 90 days, the sources added.
Adjusting the term is an effective solution to help the textile and garment industry to surmount current obstacles as well as attain its 2006 exporting target of $5.3 billion revenue, the inter-ministries explained.
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