10 commercial banks will be inspected by Tax authorities

10 commercial banks will be audited for the performance of tax obligations, 2016 period and related periods. Source: Internet

In this inspection plan, the General Department of Taxation will inspect 4 banks. At the same time, assigning Hanoi Tax Department to inspect 3 banks and HCM City Tax Department to inspect 3 banks. In particular, the tax authorities will conduct an inspection on the implementation of value added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and contractor tax of banks.

In the content of the inspection for VAT, the authorities will review the output tax and input tax. Regarding the output VAT, they will inspect the units operating in credit services and securities trading which are not subject to impose VAT. The tax authorities will inspect and review this activity whether it is subject to impose VAT according to regulations or not.

For subjects are being imposed VAT, tax authorities will inspect in the bank that operates in trading gold and silver. Accordingly, they will audit and review cases of those units...

For the input VAT, tax authorities will inspect the units operating in credit services, securities trading and capital transfer that are not subject to impose VAT. In this case, the input VAT is deducted, the unit must proceed to allocate.

The tax authorities will review the invoices and vouchers of purchased goods and services of enterprises which have announced the removal of their business addresses and invoices before the time of issuing the notification of removing their business addresses that do not have enough dossiers as prescribed.

For corporate income tax (CIT), the General Department of Taxation requested to conduct the inspection of revenue accounting that is inappropriate to operate expense of the fiscal year, transfer the revenues and expenditures that are not in time for accounting. The expenses, contingencies, guarantees, bonds, reserves...

Regarding personal income tax (PIT), the management authorities will inspect the aggregation of income from salaries, wages, bonuses and other incomes that are subject to impose a personal income tax and deductions for laborers in the whole year. Conducting the comparison and checking the consistency between the book of detail tax account and declaration, tax settlement.

Additionally, regarding contractor tax, if the bank incurs expenses related to contractor tax, tax authorities will inspect and review the declaration of VAT and CIT of the foreign contractor that generate incomes in Vietnam.