Minister Dinh Tien Dung: Strictly handle violations of tax and invoices

VCN - At the question-and-answer session on October 31st, 2018, the management of invoice and land use by state owned enterprises before and after equitization are the main questions raised by the National Assembly Deputies set out to the Minister of Finance Dinh Tien Dung.
minister dinh tien dung strictly handle violations of tax and invoices Minister Dinh Tien Dung: The Financial sector to build a streamlined and efficient administration apparatus
minister dinh tien dung strictly handle violations of tax and invoices Minister Dinh Tien Dung meets JICA President
minister dinh tien dung strictly handle violations of tax and invoices Minister Dinh Tien Dung: budget disciplines and rules in many units have not been seriously implemented
minister dinh tien dung strictly handle violations of tax and invoices
Minister Dinh Tien Dung answered questions of National Assembly Deputies on October 31st, 2018.

Deputy Bui Thu Hang (Hoa Binh) expressed: Recently, although the Ministry of Finance has introduced many measures to manage invoices, doing business without VAT invoice is still very common and does not have positive changes, which reduces the transparency and fair competition in the market.

In addition, consumers may be subject to loss by lack of legal binding between sellers and buyers. The State will be subject to tax loss. Deputy Bui Thu Hang asked Minister Dinh Tien Dung how to overcome the above situation in the coming time.

Putting a question to the Minister, Deputy Quach The Tan (Hoa Binh) is concerned about the management of land use by state owned enterprises before and after equitization.

He stated that the management of land before and after equitization by state enterprises still revealed shortcomings of not calculating or insufficiently calculating the value of land use rights upon enterprise valuation for equitization. This has led to the loss of State capital and properties. On the other hand, the problems related to land have affected the progress and results of SOE equitization. "The Minister is required to tell the solutions to overcome the above shortcomings," said Quach The Tan.

Answering the question from Deputy Bui Thu Hang, Minister Dinh Tien Dung asserted: Through inspection and examination, there were not only companies issuing invoices but also individuals establishing companies to trade invoices and withdraw tax refunds from the State.

Currently, there is a legal corridor of Decree No. 51/2010 on invoices and goods supply and Decree 109/2013 on sanctions for administrative violations in the management of prices, charges, fees and invoices. Recently, the Ministry of Finance has also proposed the Government for issuance of Decree No. 119/2018 on electronic invoices used for sale of goods or supply of services.

In fact, the Ministry of Finance has synchronously applied many solutions such as tax declaration, payment, tax refund and electronic invoices. Enterprises and investors had a sense of observance of tax laws, invoicing sales and tax declaration and payment, but there was still the situation of non-invoicing sales. "We have discovered many cases and coordinated with the competent authorities, especially the public security to strictly handle violations," said Minister Dinh Tien Dung.

To overcome this situation, according to the Minister, in addition to the inspection and examination, it is necessary to implement Decree 119 well on electronic invoices; At the same time, there will be amendments to the Tax Administration Law, which will be submitted to the National Assembly for consideration in this meeting session.

"In fact, Vietnam's economy is using too much cash. The Ministry of Finance will also coordinate with the State Bank of Vietnam and other agencies to strengthen measures to promote non-cash payment; further enhance the inspection and examination and strictly handle violations of tax and invoices,” Mr. Dung emphasized.

For the question from Deputy Quach The Tan (Hoa Binh), Minister Dinh Tien Dung said that the valuation of land use rights of equitized enterprises was to comply with the provisions of the land law in each period.

Accordingly, before 2011, there was a provision that the annual land lease payment must include the geographical value into enterprise value. From 2011 up to now, according to the provisions of the Land Law 2013, the land lease fees have been closer to the market and included into the enterprise value, and enterprises have to pay to the State budget the difference.

"The strict management and use of land after equitization in each locality, belongs to the responsibility of provincial People's Committee," said Minister Dinh Tien Dung.

In fact, some enterprises after equitization have taken advantage of the State's land management policy, such as the relocation of a polluting establishment out of the urban area for conversion of land use purposes without recovery and auction of land use rights in accordance with the provisions of the Land Law. Accordingly, Minister Dinh Tien Dung said that the Ministry of Finance has submitted the Government Decree 126/2017 / ND-CP on the transfer of state-owned enterprises and one-member limited liability companies of which 100% chartered capital are owned by state-owned enterprises into joint stock Companies, which was effective from January 1st, 2018.

minister dinh tien dung strictly handle violations of tax and invoices Minister Dinh Tien Dung: The state budget restructuring in the past 3 years gained positive results

VCN- Presenting to the National Assembly at the discussion on October 29th 2018, Minister of Finance Dinh Tien ...

Accordingly, the land use plan of the equitized enterprises must be considered and approved by the competent state agency before the time of equitization decision and after the equitization. The joint stock companies must manage and use the land in accordance with the approved plan.

By Thanh Nguyen/ Huyen Trang

Related News

Expansionary fiscal policy halts decline, boosts aggregate demand

Expansionary fiscal policy halts decline, boosts aggregate demand

VCN - Customs News interviews Ms. Nguyen Thanh Nga, Deputy Director of the Institute for Financial Strategy and Policy (Ministry of Finance).
Ministry of Finance stands by enterprises and citizens

Ministry of Finance stands by enterprises and citizens

VCN - This was the affirmation of Deputy Minister of Finance Cao Anh Tuan at the 2024 Dialogue Conference on Tax and Customs Policies and Administrative Procedures. The conference, jointly organized by the Ministry of Finance and the Vietnam Chamber of Commerce and Industry (VCCI) on December 10, attracted 530 enterprises from the northern region.
Disbursement of public investment from foreign loans reaches 39.06% of the plan

Disbursement of public investment from foreign loans reaches 39.06% of the plan

VCN - At a conference held on December 3, 2024, to discuss the disbursement progress of public investment from foreign loans in the final months of the year, the Department of Debt Management and External Finance reported that ministries and agencies had disbursed over VND3.285 trillion. Notably, six ministries proposed returning a total of VND2.0924 trillion from the 2024 allocated budget.
Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

VCN - Reducing value added tax (VAT) has an impact on the decrease of state budget revenue but also stimulates production and promotes business activities, thereby contributing to creating more revenue for the state budget.

Latest News

Banks face difficulties in balancing capital raising and lending

Banks face difficulties in balancing capital raising and lending

Banks often use their charter capital to compensate for a capital shortage, as lending exceeds capital raising.
Credit continues to increase at the end of the year, room is loosened to avoid "surplus in some places - shortage in others"

Credit continues to increase at the end of the year, room is loosened to avoid "surplus in some places - shortage in others"

VCN - Credit demand continues to increase at the end of the year, thereby helping banks compete through continuing to adjust interest rates appropriately.
M&A in Vietnamese non-life insurance sector sees strong development

M&A in Vietnamese non-life insurance sector sees strong development

While mergers and acquisitions in the Vietnamese life insurance sector have been relatively quiet, M&As in the non-life insurance sector have been quite strong, with the participation of both foreign and domestic investors.
More tax law reforms needed to address e-commerce challenges

More tax law reforms needed to address e-commerce challenges

The rapid growth of e-commerce has contributed significantly to Vietnam's economic development, but it also brought challenges, particularly in tax management.

More News

Ho Chi Minh City achieves record state revenue of over VND500 trillion in 2024

Ho Chi Minh City achieves record state revenue of over VND500 trillion in 2024

VCN - For the first time in its history, Ho Chi Minh City’s budget revenue surpassed VND500 trillion in just 11 months of 2024.
Accelerating public investment in national key transportation projects

Accelerating public investment in national key transportation projects

VCN - According to the Ministry of Finance, the disbursement of funds for national key transportation projects in the first ten months of 2024 exceeded the average disbursement rate for other sectors. However, the pace has slowed in recent months.
State capital management commission to be dissolved

State capital management commission to be dissolved

The Commission for Management of State Capital at Enterprises will cease its operations, following Resolution No 18 of the Central Party Committee.
There is still room for credit growth at the end of the year

There is still room for credit growth at the end of the year

VCN - To achieve the credit growth target of 15% for the whole year of 2024 as directed, the banking system will have to "pump" out nearly VND 670,000 billion of loans to the economy in the last 2 months of the year, so many solutions are needed to accelerate capital flow.
The importance of user-friendly tax platforms for online retailers

The importance of user-friendly tax platforms for online retailers

VCN - The e-portal for individual and business households engaging in e-commerce activities has been completed. Trial runs for its interface, operational solutions, and functionality have also been finalized, with plans to officially roll out the portal soon.
Nearly 30 trillion VND mobilised through G-bond auctions

Nearly 30 trillion VND mobilised through G-bond auctions

The Hanoi Stock Exchange successfully organised 17 Government bond auctions in November, raising 20.76 trillion VND (817.56 million USD) for the State Treasury.
Expecting cross-border M&A deals

Expecting cross-border M&A deals

VCN - In order for the Vietnamese mergers and acquisitions (M&A) market to grow stronger and become a destination for global capital flows, in the current context, the driving force of cross-border deals is still needed.
Credit growth target of 15% for 2024 within reach: SBV

Credit growth target of 15% for 2024 within reach: SBV

The banking system's credit growth had risen by 11.12% as of November 22 compared to the end of 2023, hence the 15% growth target for the whole year is reachable, according to the State Bank of Vietnam (SBV).
Multiple drivers propel positive growth in budget revenue

Multiple drivers propel positive growth in budget revenue

VCN - Dr. Bui Dang Dung, former Deputy Chair of the National Assembly’s Finance and Budget Committee, believes that the 2024 state budget revenue results are highly encouraging, reflecting the concerted efforts of the Government, relevant agencies, and the business community amid challenging economic conditions.
Read More

Your care

Latest Most read
Expansionary fiscal policy halts decline, boosts aggregate demand

Expansionary fiscal policy halts decline, boosts aggregate demand

VCN - Fiscal policy, in particular, has been implemented with a reasonable, focused, and targeted expansionary approach to halt the decline, boost aggregate demand, and foster economic recovery.
Ministry of Finance stands by enterprises and citizens

Ministry of Finance stands by enterprises and citizens

This was the affirmation of Deputy Minister of Finance Cao Anh Tuan at the 2024 Dialogue Conference on Tax and Customs Policies and Administrative Procedures.
Banks face difficulties in balancing capital raising and lending

Banks face difficulties in balancing capital raising and lending

Banks often use their charter capital to compensate for a capital shortage, as lending exceeds capital raising.
Credit continues to increase at the end of the year, room is loosened to avoid "surplus in some places - shortage in others"

Credit continues to increase at the end of the year, room is loosened to avoid "surplus in some places - shortage in others"

Credit demand continues to increase at the end of the year, thereby helping banks compete through continuing to adjust interest rates appropriately.
M&A in Vietnamese non-life insurance sector sees strong development

M&A in Vietnamese non-life insurance sector sees strong development

While mergers and acquisitions in the Vietnamese life insurance sector have been relatively quiet, M&As in the non-life insurance sector have been quite strong, with the participation of both foreign and domestic investors.
Mobile Version