HCM City Tax Department: Collecting tax arrears and reducing losses of more than VND 2,000 billion via inspection and checking

Enterprises implement tax finalisation at HCM City Tax Department. Photo: T.H

According to the inspection results until February 29, 2020, Ho Chi Minh City Tax Department inspected 2,167 enterprises, with tax arrears, monetary penalties and refunds of VND 367.2 billion, deduction and reducing losses of VND 1,635.1 billion.

Specifically, checking at the tax office accounted for 5,623 tax declaration dossiers, with the amount of additional tax declaration and fixed tax of VND 1.4 billion.

Inspecting at enterprise’s officies was 2,086 times, with tax arrears, monetary penalties and refund of VND 276.1 billion. Besides that, they also reduced deduction of VAT of VND 194.6 billion; decreased a loss of VND 1,018.3 billion, with non-refundable of VND 26.4 billion.

Therefore, the total amount of additional tax declaration after inspection at the tax authorities and the amount of tax arrears, monetary penalties and refunds via conducting inspections at the enterprise in the first two months of 2020 hit VND 277.5 billion, reducing VAT deduction was VND 194.8 billion and reducing loss of VND 1,018.3 billion.

For the inspection, in the first two months of the year, tax authorities conducted 156 inspections, 133.3% over the same period, reaching 8.41% compared to the assigned plan in 2020, with tax collection and monetary penalties VND 210 billion equaling 210%, the number of deductions and reducing losses VND 422 billion, equal to 27.92% compared to the same period.