Ho Chi Minh City: Focus on handling outstanding debts and preventing budget revenue losses

	The Ho Chi Minh City: Tax debts of real estate companies rise
	Ha Tinh Customs has not yet collected VND 29 billion of irrecoverable tax debts
	Ha Tinh publicized identification of 75 enterprises intentionally delaying to pay tax debt

One of the real estate projects with large debts are being handled by HCMC Tax Department.

Accordingly, HCMC Tax Department focused on inspecting enterprises involved in high risk areas and enterprises entitled to tax incentives, enterprises with associated activities, loss-making enterprises with signs of transfer pricing and capital transfer activities ...; strengthening local inspection for some areas such as finance, credit, real estate and infrastructure, etc.

HCMC People's Committee also required tax authorities to manage tax debts well, enforce the recovery of tax debts and reduce outstanding debts; to strengthen disciplines and rules, to raise political and ideological awareness in tax administration and tax debt management; to strive to promptly fight, prevent and handle acts of trouble and harassments in the duty performance; to commend and reward units and individuals that gained good achievements in tax administration, tax debt recovery and tax debt enforcement.

In addition, district-level People's Committees should intensively coordinate with tax agencies in handling and urging collection of tax debts for enterprises and business households, especially market areas where the business households are densely populated; strictly deal with enterprises with debts of land rental fee and land use fee; and propose measures to collect outstanding debts for projects failing the tax obligation.

According to HCMC Tax Department, by the end of October 2018, the total recoverable debts (90-day debt and more than 90-day debt) were more than VND 9,500 billion, up 25.34 % compared to December 31, 2017. In particular, the debts related to land was VND 1.826 billion, up VND 663 billion, equivalent to 57.01% over December 31, 2017.

Investment in construction: Many obstacles leading to long outstanding debts VCN - According to experts, the field of capital construction is very broad and involves many ministries, ...

With many measures to recover outstanding debts, in the past 10 months, HCMC Tax Department has recovered and processed more than VND 5,500 billion. Of which, revenue by debt management measures was VND 3,225 billion, by tax debt enforcement was 2,335 billion.