HCM City: Processing more than VND 1,800 billion of tax via inspection and examination

VCN – In the first six months of 2020, the HCM City Tax Department conducted tax inspection and examination for 9,558 dossiers of enterprises with the amount of tax arrears, sanctions and refunds VND 1,836 billion.
hcm city processing more than vnd 1800 billion of tax via inspection and examination
HCM City Tax Department would not conduct periodic inspections in 2020 for businesses showing no signs of violations . Photo: T.H

According to the HCM City Tax Department, this year, in the context that enterprises are affected by the Covid-19 pandemic, tax inspection and examination were carried out firstly for businesses with high risks of tax; at the same time, case that are less affected by the pandemic but have fluctuation in turnover and profits would be put in the inspection and examination plan.

In the first six months of 2020, HCM City Tax Department conducted tax inspection and examination for 9,558 dossiers of enterprises with tax arrears, sanctions and refunds amounting to VND 1,836 billion.

The HCM City Tax Department conducted 454 inspections, with the amount of tax arrears and fines VND 778 billion, up 80% in the number of inspection dossiers and 98% in the amount of tax arrears, fines and refunds.

According to Le Duy Minh – Director of HCM City Tax Department, in the second half of the year, inspection and examination of the unit would focus on combating revenue loss. In particular, focusing on inspecting and examining businesses with high risk of tax, handling tax debt recovery, businesses with fluctuation in revenue and profits which were less affected by the pandemic.

However, HCM City Tax Department would not conduct periodic inspections in 2020 for businesses showing no signs of violations to facilitate businesses to focus on solving difficulties and maintain production and business activities.

Along with that, the unit did not organise the inspection and examination of cases where businesses encounter difficulties due to the Covid-19 pandemic, facilitating enterprises to recover their production and business.

By Lê Thu/Thanh Thuy

Related News

Propose many solutions to shorten tax refund time

Propose many solutions to shorten tax refund time

VCN - Fully defining the duties and responsibilities of tax officials and having a mechanism to protect tax officials in tax refunds are breakthrough solutions being proposed to remove bottlenecks and barriers, speeding up the tax refund process in the coming time.
Amending regulations for proactive, responsible tax officials

Amending regulations for proactive, responsible tax officials

VCN - Dr. Phan Hoai Nam, CEO of W&A Consulting, Member of the Association of Chartered Certified Accountants (ACCA), CPA Australia, and the Chartered Institute of Taxation (CIOT), discusses tax refund issues with Customs Magazine.
HCMC Tax Department focuses on resolving land dossiers as soon as possible

HCMC Tax Department focuses on resolving land dossiers as soon as possible

VCN - Immediately after the HCMC People's Committee issued a document allowing the use of the current land price list to calculate taxes while waiting for the issuance of the new land price list, the HCMC Tax Department directed tax branches to prioritize and focus resources to resolve land dossiers received from August 1st as soon as possible.
Strictly control sources of smuggled goods transporting into HCM City

Strictly control sources of smuggled goods transporting into HCM City

VCN- HCM City’s anti-smuggling forces have taken measures to control and prevent transportation of smuggled and counterfeit goods into HCM City market.

Latest News

Amending the Law on Corporate Income Tax, not giving preferential treatment to overlapping and spreading industries

Amending the Law on Corporate Income Tax, not giving preferential treatment to overlapping and spreading industries

VCN - The promulgation of the Law on Corporate Income Tax (amended) is necessary, in line with international practice, associated with restructuring revenue sources, expanding the tax base in line with the context of socio-economic development.
Việt Nam

Việt Nam's stock market recovers but outlook remains uncertain

Following a prolonged period of volatility, the VN-Index is approaching a critical resistance level, raising the question of whether the market has enough momentum to break through or if it is merely undergoing a technical rebound before further corrections.
Bad debt at banks continues to rise in both amount and ratio

Bad debt at banks continues to rise in both amount and ratio

VCN - After nine months of 2024, bad debt balances at banks continue to rise, potentially posing risks to the banking sector if control measures aren't implemented.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.

More News

Green credit proportion remains low due to lack of specific evaluation criteria

Green credit proportion remains low due to lack of specific evaluation criteria

VCN - According to the State Bank of Vietnam (SBV), as of the end of September 2024, 50 credit institutions had outstanding green credit balances exceeding VND 665 trillion, accounting for over 4.5% of the total outstanding loans in the economy.
Launching virtual assistants to support taxpayers

Launching virtual assistants to support taxpayers

VCN – After completing the research and development of the artificial intelligence product “Virtual assistants to support taxpayers”, on November 21, Hanoi Tax Department was selected by the General Department of Taxation as the pilot unit to support taxpayers.
Banks increase non-interest revenue

Banks increase non-interest revenue

VCN - Slow credit demand and fierce competition have forced banks to seek ways to increase non-interest revenue, especially when there is a lot of support from the digital transformation of the entire banking system.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN – In order to achieve goal of strictly managing public debt and maintaining security and safety of the national financial system in 2025, it is necessary to ensure the borrowings and repayments of public debts is within the approved estimate; closely monitor public debt indicators to ensure that they are within the ceiling and warning thresholds approved by the National Assembly.
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

VCN - On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws. Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai emphasized the need for the Government to direct the drafting body and relevant agencies to collaborate closely to finalize a persuasive and widely supported report, ensuring the quality of the draft law for the National Assembly's consideration and decision.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
State-owned securities company trails competitors

State-owned securities company trails competitors

Contrary to the outstanding performances in the banking sector, the securities subsidiaries of major banks have yet to fully leverage their potential, despite numerous inherent advantages.
Read More

Your care

Latest Most read
Amending the Law on Corporate Income Tax, not giving preferential treatment to overlapping and spreading industries

Amending the Law on Corporate Income Tax, not giving preferential treatment to overlapping and spreading industries

VCN - The promulgation of the Law on Corporate Income Tax (amended) is necessary, in line with international practice, associated with restructuring revenue sources, expanding the tax base in line with the context of socio-economic development.
Việt Nam

Việt Nam's stock market recovers but outlook remains uncertain

Following a prolonged period of volatility, the VN-Index is approaching a critical resistance level, raising the question of whether the market has enough momentum to break through or if it is merely undergoing a technical rebound before further corrections.
Bad debt at banks continues to rise in both amount and ratio

Bad debt at banks continues to rise in both amount and ratio

After nine months of 2024, bad debt balances at banks continue to rise, potentially posing risks to the banking sector if control measures aren't implemented.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
Green credit proportion remains low due to lack of specific evaluation criteria

Green credit proportion remains low due to lack of specific evaluation criteria

As of the end of September 2024, 50 credit institutions had outstanding green credit balances exceeding VND 665 trillion, accounting for over 4.5% of the total outstanding loans in the economy.
Mobile Version