HCM City Tax Department collects billions of dong in tax arrears

VCN - HCM City Tax Department collected tax arrears of nearly VND 3,000 billion from documentary examination and pre-inspection for enterprises at high tax risk.
Many enterprises violate on tax policy Many enterprises violate on tax policy
HCM City: Processing more than VND 1,800 billion of tax via inspection and examination HCM City: Processing more than VND 1,800 billion of tax via inspection and examination
Nearly VND 7,000 billion refunded to HCM City enterprises Nearly VND 7,000 billion refunded to HCM City enterprises
1619-1028-11
Operations at District 1 Tax Branch under HCM City Tax Department: Photo: ST


Many enterprises commit violations

Mr. Le Duy Minh, Director of HCM City Tax Department said under the inspection plan in 2020, as a result of the inspection by the end of October 2020 at 15,277 enterprises, the department collected VND2,916.2 billion of tax arrears and fines, reduced a deducted VAT amount of VND65 billion and a loss of VND18,171.7 billion.

Specifically, the department examined 925 tax records, with tax arrears and fines of VND1,192.2 billion, reaching 64% of the plan in2020, an increase of 37% year-on-year. In addition, the department reduced a deducted tax amount of VND93.7 billion and a loss of VND4,777 billion.

In addition to inspections, in the past ten months, HCM City Tax Department has also conducted 14,352 inspections at enterprises and collected tax arrears and fines of VND1,724 billion, down 36% year-on-year; reduced deducted VAT of VND271.4 billion and losses of VND13,395 billion. At the same time, 41,205 tax records were inspected at tax agencies, down 41% year-on-year and the additional tax was VND48 billion, up 57% year-on-year.

Analysis of the Ho Chi Minh City Tax Department shows that, through inspections, the department collected nearly VND1.3 billion per record on average; through tax examinations, the department collected VND129 million per record on average. This shows that there were many enterprises which committed violations of tax policies.

HCM City Tax Department has reviewedenterprisesthat collected high tax revenue but paid a low tax amount and assigned inspection divisions and tax branches managing these enterprises to contact them to find out the cause and urge them to pay corporate income tax in accordance with their actual business situation.

Enterprises at high tax risk inspected

According to Director Le Duy Minh, in the remaining months of the year, HCM City Tax Department has asked their units to strengthen supervision and inspection, particularly the inspection at tax agencies and not to conduct periodic inspections at taxpayers' offices for enterprises without signs of violation to facilitate them to solve problems and maintain production and business activities.The departmenthas striven to collect about VND1,370 billion through inspections and examinations.

HCM City: Conducting tax inspections on nearly 20,000 enterprises HCM City: Conducting tax inspections on nearly 20,000 enterprises

VCN - Nearly 20,000 enterprises have been inspected by the HCM City Tax Department.

Accordingly, the units were asked to focus on conducting inspections and pre-inspections for enterprises at high tax risk, collecting tax debts and inspecting enterprises with sudden increases in sales and profits and less affected by the pandemic; contacting enterprises on the inspection and examination not to affect their production and business situation before inspections; moreover, reviewing and checking sales on declarations, capturing business results of enterprises, groups, corporations and commercial banks to urge temporary payment of corporate income tax in 2020 before October 31, 2020; urging the timely payment of the dividends and remaining profits to the state budget according to regulations; reviewing and urging the timely payment into the budget for revenues of 100% of the central budget, such as fees, charges, land fees and other revenues.

In the first ten months of 2020, HCM City Tax Department collected VND207,447 billion, or 71.33% of the estimate in 2020, a year-on-year decrease of 11.4%. This is the lowest result compared to the estimate of HCM City Tax Department in recent years. This resulted from the Covid-19 pandemic that affected business and production activities,the extension of tax and land rental payment deadlines according to Decree 41/2020 / ND-CP; the extension of consumption tax payment deadlines according to Decree No. 109 / ND-CP and policies to remove difficulties for enterprises.

In the two remaining months of the year, domestic revenue (excluding crude oil) will be about VND39,700 billion; total domestic revenue for the whole year 2020 will be about VND248,567 billion, or 85.47% of the estimate and down 14.5% year-on-year.

By Le Thu/ Huyen Trang

Related News

Enterprises focus on Tet care for employees

Enterprises focus on Tet care for employees

VCN - Tet bonuses are always an issue that receives special attention from employees at the end of each year. This year, the economy is facing many difficulties, many enterprises in the southern provinces have announced Tet bonuses, reflecting their tireless efforts to ensure the rights of employees.
Numerous FDI enterprises face suspension of customs procedures due to tax debt

Numerous FDI enterprises face suspension of customs procedures due to tax debt

VCN - Several foreign direct investment (FDI) enterprises in HCM City have been subjected to coercive measures, including the suspension of customs procedures, for overdue import-export and domestic tax liabilities.
Enterprises face difficulties in tax refunds due to partners closing

Enterprises face difficulties in tax refunds due to partners closing

VCN - On December 13, at a dialogue conference on tax and customs policies and administrative procedures organized by the Ministry of Finance in coordination with the Vietnam Chamber of Commerce and Industry (VCCI), enterprises proposed solutions to many problems related to tax policies such as VAT refunds, tax declaration procedures, electronic invoices, etc.
Answering many questions from businesses at dialogue conference on tax and customs policies

Answering many questions from businesses at dialogue conference on tax and customs policies

VCN - Many opinions and recommendations related to tax and customs issues were raised by the business community at the dialogue on tax and customs policies and administrative procedures in 2024, organized by the Ministry of Finance.Representatives of the Ministry of Finance, the General Department of Taxation, and the General Department of Customs provided specific responses, and affirmed that they will continue to research and advise on the assessment, review, and amendment and supplementation of appropriate regulations.

Latest News

Fed’s foreseen rate cuts affect foreign exchange rate

Fed’s foreseen rate cuts affect foreign exchange rate

After the Fed’s move, the US dollar index (DXY) on December 19 hit nearly 108, the highest level in the past year.
Untying the knot for green finance

Untying the knot for green finance

VCN - Green finance is a crucial resource for greening businesses. Completing the policy framework for green finance is urgently needed to unlock this capital flow.
Ensuring efficiency and transparency in use and management of houses and land at State enterprises

Ensuring efficiency and transparency in use and management of houses and land at State enterprises

VCN - According to the Ministry of Finance, the issuance of Directive on strengthening management, improving the efficiency of use and handling of houses and land at State-owned enterprises to ensure the effective management, use and handling of houses and land for the right purposes, and to avoid loss and waste.
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.

More News

Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.
General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by a representative of the Department of Public Asset Management (Ministry of Finance) at the press conference on the implementation of the General Inventory Project of public assets organized by the Ministry of Finance on the afternoon of December 18.
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
PM urges stronger measures to manage interest rates

PM urges stronger measures to manage interest rates

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
Vietnamese products: Conquering foreign customers in supermarket systems

Vietnamese products: Conquering foreign customers in supermarket systems

VCN - According to the Ministry of Industry and Trade, the proportion of Vietnamese goods in distribution channels currently reaches more than 80% in supermarkets and 60% or more in traditional retail channels. For many retailers, Vietnamese goods have become a growth driver as they not only do business successfully in the domestic market but also export.
Strengthen the management and use of electronic invoices for e-commerce

Strengthen the management and use of electronic invoices for e-commerce

VCN - Prime Minister Pham Minh Chinh requested ministries, branches and localities to strengthen the management and use of electronic invoices and improve the efficiency of tax collection for e-commerce.
Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

VCN - The Ministry of Finance has just completed the proposal to draft the Personal Income Tax Law (PIT) and officially solicited public comments. By amending and supplementing nearly 90% of the total number of articles of the current PIT Law, the Ministry of Finance has submitted to the Government for permission to propose the draft PIT Law to replace the PIT policy system. The project is expected to be approved by the National Assembly in May 2026.
Read More

Your care

Latest Most read
Fed’s foreseen rate cuts affect foreign exchange rate

Fed’s foreseen rate cuts affect foreign exchange rate

After the Fed’s move, the US dollar index (DXY) on December 19 hit nearly 108, the highest level in the past year.
Untying the knot for green finance

Untying the knot for green finance

VCN - Green finance is a crucial resource for greening businesses. Completing the policy framework for green finance is urgently needed to unlock this capital flow.
Ensuring efficiency and transparency in use and management of houses and land at State enterprises

Ensuring efficiency and transparency in use and management of houses and land at State enterprises

VCN - According to the Ministry of Finance, the issuance of Directive on strengthening management, improving the efficiency of use and handling of houses and land at State-owned enterprises to ensure the effective management, use and handling of houses an
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN - With the determination to accomplish the revenue collection to create resources for economic development under the Prime Minister's direction, the entire Tax sector has made efforts to perform the revenue collection in the last days of 2024.
Mobile Version