Gofingo Vietnam Co., Ltd  enforced to suspend its import and export for failing to pay taxes worth about VND 10 billion

Gofingo Vietnam Co., Ltd enforced to suspend its import and export for failing to pay taxes worth about VND 10 billion

VCN - The decision, which has been in effect from July 17, and will be terminated until the company fully pays its tax debts.
Binh Dinh Customs effectively implements debt freezing and writing-off

Binh Dinh Customs effectively implements debt freezing and writing-off

VCN - Resolution 94/2019/QH14 adopted by the 14th National Assembly and effective from July 1, 2020 has really solved the bad and outstanding tax debts. Binh Dinh Customs Department has implemented debt freezing and debt writing-off effectively.
Viet Sang Viet Anh Sang Garment company forced to suspend customs procedures for tax debt of VND2.2 billion

Viet Sang Viet Anh Sang Garment company forced to suspend customs procedures for tax debt of VND2.2 billion

The decision takes effect within one year from May 24 and will expire when the tax debt amount is fully paid to the State budget.
Why have nine processing enterprises enforced suspending use of invoices?

Why have nine processing enterprises enforced suspending use of invoices?

VCN - The Processing Customs Branch said that the branch issued an official dispatch to request customs branches under HCM City Customs Department to enforce nine enterprises to suspend use of invoices
Review and amend the Law on Personal Income Tax in tandem with international practices

Review and amend the Law on Personal Income Tax in tandem with international practices

VCN - Voters in Da Nang proposed the Ministry of Finance to advise the Government to submit to the National Assembly for amendment of the Law on Personal Income Tax to increase the level of family circumstance-based deduction for taxpayer’s dependents.
Banks

Banks' bad debt burden is getting "bigger"

VCN - Results from the financial statements of the first quarter of 2023 of 27 banks listed on the stock market showed that many banks increased their bad debt by 50-70%.
Tax debt of VND 210 million - not resolved after 25 years due to lack of guidance

Tax debt of VND 210 million - not resolved after 25 years due to lack of guidance

VCN - As a rule, before considering debt cancellation as prescribed in Resolution 94/2019/QH14, the customs authority should check the implementation of coercive measures to ensure that taxpayers are no longer able to pay taxes and the business registrati
Reform the tax debt management process

Reform the tax debt management process

VCN - The conference was attended by GDVC’s Deputy Director General Hoang Viet Cuong, representatives of local customs departments, customs branches and officers in charge of tax debt management.
Customs handles tax debt: From flexibility to rigour – Final part: Putting tax debt to the lowest rate

Customs handles tax debt: From flexibility to rigour – Final part: Putting tax debt to the lowest rate

To remove the "bottleneck", the General Department of Vietnam Customs has issued a process to manage tax debt and other receivables for import and export goods to handle it completely.
Customs handles tax debt: flexibly and rigorously- Part 2: Why is the effectiveness of coercive measures not high?

Customs handles tax debt: flexibly and rigorously- Part 2: Why is the effectiveness of coercive measures not high?

VCN - In addition to seven coercive measures to enforce administrative decisions on tax administration for tax debtors specified in Article 125 of the Law on Tax Administration 2019, one of the "stronger" measures taken by the Customs sector for tax debto
Customs handles tax debt: flexibly and rigorously- Part 1: Diversity of tax debts

Customs handles tax debt: flexibly and rigorously- Part 1: Diversity of tax debts

VCN - According to Article 55 of the Law on Tax Administration 2019 stipulating the tax payment deadline, enterprises are allowed to apply for a 90-day grace period when importing and exporting taxable goods.
Tax sector ready to carry out the budget collection in 2023

Tax sector ready to carry out the budget collection in 2023

VCN - Due to a lot of pressure on the state budget collection in 2023, the tax sector has proactively set out critical tasks for implementation at the beginning of the year.
"Strongly" handle tax debt

"Strongly" handle tax debt

In order to reduce tax debt, many flexible measures have been taken by the tax sector, including strong measures such as suspending the entry and exit of legal representatives of enterprises.
Owner of a gold trading company suspended from exiting the country for tax debt

Owner of a gold trading company suspended from exiting the country for tax debt

VCN – A gold trading company has owed tax since 2012 but intentionally delayed payment to the state budget despite measures to urge and collect debts by the customs.
Separate handling measures will be applied for each subject of a tax debt via classification

Separate handling measures will be applied for each subject of a tax debt via classification

The tax sector will focus on classifying tax debts to have appropriate debt collection measures for each subject.
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