Financial constraints keep HCM City businesses in tax debts
Illustrative image (Photo: phatluatxahoi.vn)
Financial constraints and liquidity issues are keeping a number of businesses in Ho Chi Minh City, particularly those operating in the real estate sector, in significant tax debts.
The municipal Department of Taxation has announced a list of 100 businesses with outstanding tax debts, totalling over 7.86 trillion VND (326.3 million USD) and mostly being real estate companies, as of the end of the second quarter.
The real estate industry has been particularly affected by challenges and liquidity constraints, exacerbated by the recent crisis in the corporate bond market, experts noted.
In addition to the real estate sector, companies from other sectors such as textiles, manufacturing, trade, and transportation are also facing tax debts.
Experts have warned that the issue of tax debts reflects the broader economic challenges faced by businesses in the country’s largest city.
The department has urged local tax offices to step up efforts to recover these tax debts and disclose information about businesses with significant and long-standing tax debts.
For businesses with debts overdue less than 90 days, tax authorities will attempt to communicate through various channels such as phone calls, text messages and emails, and invite them for discussion.
For tax debts exceeding 90 days, stricter enforcement measures will be implemented to recover these outstanding amounts, according to the department./.
Related News
Latest News
Fiscal policy is expanded and flexible to promote economic growth 2024
13:28 | 13/05/2024 Finance
Closely follow the situation, research and propose many solutions about taxes and fees to support the economy
08:16 | 12/05/2024 Finance
Prevent corruption and group interests in developing financial laws
10:07 | 11/05/2024 Finance
"Creativity in revenue collection to achieve set goals in difficult contexts"
14:55 | 10/05/2024 Finance
More News
Strive to effectively implement Global Minimum Tax in Vietnam
10:22 | 10/05/2024 Finance
State Treasury raises over $890 million worth of G-bonds in April
14:46 | 09/05/2024 Finance
State expenditure in the first four months of 2024 reaches VND522.2 trillion
09:54 | 09/05/2024 Finance
SBV ready to intervene to stabilise foreign exchange rate: Deputy Governor
15:41 | 08/05/2024 Finance
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
State budget revenue estimated at VND733.4 trillion
14:40 | 06/05/2024 Finance
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Your care
Fiscal policy is expanded and flexible to promote economic growth 2024
13:28 | 13/05/2024 Finance
Closely follow the situation, research and propose many solutions about taxes and fees to support the economy
08:16 | 12/05/2024 Finance
Prevent corruption and group interests in developing financial laws
10:07 | 11/05/2024 Finance
"Creativity in revenue collection to achieve set goals in difficult contexts"
14:55 | 10/05/2024 Finance
Strive to effectively implement Global Minimum Tax in Vietnam
10:22 | 10/05/2024 Finance