When will Samsung receive its tax refund of over 582 billion VND?

(NLĐO) - The tax authorities have projected a timeframe for Samsung's tax refund, provided the company completes all necessary documentation.

On the afternoon of April 3rd, at the Ministry of Finance 's Q1/2025 press conference, Mr. Mai Son, Deputy Director of the Tax Department, provided information regarding the refund of value-added tax (VAT) for Samsung Electronics HCMC CE Complex Co., Ltd. (Samsung Electronics Company), addressing policy issues and issuing directives to resolve the VAT refund for this enterprise.

Deputy Director of the Tax Department Mai Son answers questions from the press.

According to Mr. Mai Son, the crux of the matter is the presence of on-site export activities. The former General Department of Taxation and General Department of Customs (now the Tax Department and Customs Department) have made many policy adjustments and directed the Ho Chi Minh City Tax Department (now the Regional Tax Office II) to handle and resolve the issue.

At the most recent meeting on March 23rd, the tax and customs authorities worked with the company, and they requested that all necessary documents be provided by April 10th at the latest. "If Samsung provides all the documents by April 10th, the tax authorities will process the tax refund on April 15th," the Deputy Director of the Tax Department stated.

Regarding the overall current value-added tax refund policy, Mr. Mai Son stated that there is a flexible mechanism in place to facilitate businesses. Accordingly, businesses that comply well with the policy will be prioritized for tax refunds. According to regulations, the tax authorities will process the refund within 5 days if the business provides complete information.

Mr. Mai Son stated that the Ministry of Finance had previously reported to the National Assembly Standing Committee that nearly 80% of tax refund applications were processed under the "refund first, audit later" mechanism; only a small number of businesses were subject to the "audit first, refund later" mechanism, mostly those receiving their first tax refund or those with risk factors.

"Policy-related issues or high-risk cases account for a very small percentage of the total number of tax refund applications annually," Mr. Son said, adding that the Ministry of Finance and the Tax Department will continue to listen to and evaluate feedback to improve policies and procedures, ensuring transparency and convenience for businesses.

Previously, as reported by Nguoi Lao Dong newspaper, at a dialogue between Ho Chi Minh City leaders and Korean businesses, Mr. Kwon Choon Ki, General Director of Samsung Electronics, raised the issue that the company's value-added tax refund of US$22.9 million (approximately VND 582.1 billion) from June 2021 to September 2024 was still incomplete.

Source: https://nld.com.vn/samsung-se-duoc-hoan-thue-hon-582-ti-dong-khi-nao-196250403191255542.htm