Compare The Value Added Tax Of Vietnam And China,the Lessons Learned

In Vietnam, target of boosting economic growth to keep up with countries in the region and the world is long career and throughout. The period of time from2001to2010is the stage that the nation concentrated all it efforts to do economic strategy, promoting industrialization and modernization of the country’s economic integration with the motto "promoting economic growth both in terms of speed and quality " in order to ensure rapid and sustainable growth. To successfully implement strategic social and economic development in the next period (from2010to2020),the Government of Vietnam is studying to issue and perfect managing mechanisms and economical financial policies, in that tax policies are focused because tax interactions are sensitive to the social and economic sectors and all aspects of country life. The tax system must continue to improve to suit both reasonable protection of the selective domestic production and encourage investment in new technology and expanding export markets, ensuring stability and income growth budget to offset the import duty cuts by international economic integration. The reform of the tax system is inevitable out in order to increase competitiveness in the field of commercial trade, investment, labor resources advantage, adjustment and economic orientation consistent with the general trend. Taxation system of Vietnam from1990to present had has important reforms, thereby forming one system is relatively complete tax, mining revenues, and apply for economic sectors and gradually adapt to the economy under the market-oriented socialist. In the system of Vietnamese taxation, Value-Added Tax (VAT) is applied starting from1999, after more than10years has been deployed gradually become mainstream taxes, high proportion of tax policy system accounted for more than30%of total tax revenues). This is also the indirect taxes the most advanced, the most applied in many countries recently.In context to integrate the world economy, proceeding to apply trade liberalization is expected in2020and will participate in APEC, Vietnam has made commitments to international integration, in which is the most important program of tariff reductions (up to2018will apply to tax cuts all imported goods to0%tax rate) made of import tax revenues plummeted. At the same time, in order to attract foreign capital from investing in domestic production, Vietnam is expected to continue to reduce corporate income tax to encourage investment. Can clearly see this as revenue for the state and will continue to reduce the bulk. In that situation, the role of value-added tax becomes more prominent place and be based largely on national income. Therefore, construction and improvement of value added tax to compensate for revenue, while contributing to improving the system of taxation in accordance with the economic development of the country and in accordance with rules International is the task with the Government of Vietnam in the coming time."Value Added Tax Act2008" through four years of implementation has achieved the objectives set out in the legislation involved, such as ease of collection, collection faster, creating important revenue source, accounting large and stable in the state budget, contributing encouraged to promote goods and services exports, increase investment in fixed assets, to facilitate the expansion of production and business end promote the process of international economic integration of the country. Besides the advantages mentioned above, in the process of implementing the Law on value added tax has exposed many limitations, can interfere in the operations and business of the enterprise, require modifications and supplements to ensure long-term vision as well as solve all the pressing in fact exist.In addition to Vietnam, China’s neighboring countries in recent times, has become a strong economy with high growth rates. To get into the magical fruit, the Chinese government has been studying, learning and boldly innovative in many areas, including reform of the tax system. The reform of the tax system of the country has left a valuable lesson, whether successes or failures.Seen from the overall. Vietnam and China have a lot of similarities:in politics, pursue the path of socialism, the economy, and that the water comes up from backward agriculture, and now is building the market economy socialist orientation; addition, cultural factors, people also quite similar. However, due to China’s implementation of reform and opening up10years earlier than the VietNam to be present, the achievements that this country was more prosperous VietNam is also very much, especially in the field of economics (2011have become the overall economy is gross domestic income2nd largest in the world, after the United States). To catch up with the process of economic integration and world region, the Government of Vietnam has actively learning and reform of economic and social policies to adapt and fit with the external environment. Therefore this thesis writers who want to learn the experience of reform value-added tax of the country to apply for the complete value added tax laws of their respective countries.With the theme "Compare the value added tax of Vietnam and China, the lessons learned," the writer has used methods such as comparative studies, synthetic and statistics.... from the materials to be collected as tax reports, economic reports, the research... survey of the situation, the status of tax policy and tax value of the two countries, which point out the advantages and disadvantages of value-added taxes of the two countries. The article summarizes the process of reforming tax policy, as well as the complete process of VAT colors and the South Vietnamese state, analyzing the advantages and disadvantages of the tax in each country. On this basis, for the amendment and supplementation of value added tax VN doing research objectives, the writer came up with one of the recommendations to improve the tax. Specific results are as follows:1. The study of the formation and development of the VAT and the role of taxes in the tax system as well as its contribution to the development of the economy in general.2. Clarification of the VAT limit and direction adjustment, the tax amendment. Giving one of the proposals to adjust, making the VAT becomes more complete, in accordance with the socio-economic situation of Vietnam as well as with international practices.