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Tax authorities will review individuals and organizations in Paradise Papers

09:57 | 01/12/2017 Finance Follow english.haiquanonline.com.vn on
VCN – Dealing with the information of some organizations and individuals of Vietnam listed in the case of Paradise Papers, General Department of Taxation has conducted verification the information and reviewing names in the list. 
tax authorities will review individuals and organizations in paradise papers
Illustration image. Source: Internet

Mr. Cao Anh Tuan, Deputy Director General of Taxation said that, after receiving the information of 99 entities, 22 individuals and 171 addresses related to Vietnam appeared in Paradise Papers that is about “tax havens” announced by International Consortium of Investigative Journalists (ICIJ) on offshore leaks page recently. General Department of Taxation has requested the administrative division to research and verify the information.

"The General Department of Taxation has conducted a review the names of individuals and business organizations in Vietnam included in the list of Paradise Papers. Then, making a comparison with the database of taxpayers that is being managed by Tax sector in order to analyze and assess. If detecting any tax violations, the tax authorities will handle in accordance with the law, "said Cao Anh Tuan.

As known, according to new information published by ICIJ, Vietnam has 92 Offshore Entities, 22 individuals and 171 addresses mentioned in the Paradise Papers. Some organizations and individuals in the Paradise Papers are related to some famous names and places such as Phu Quoc, Hoi An, Furama, Ha Noi, Ho Chi Minh City.

Earlier, the Panama Papers announced on 10/5/ 2016 also mentioned that Vietnam has 189 individuals, 19 offshore companies and 23 intermediaries in this list. Panama Papers and now Paradise Papers is warning the risk of tax evasion of organizations and individuals involved in Vietnam through transnational transactions. This is not the first time the Vietnamese tycoons are leaked a large amount of billion and assets transactions in the foreign country.

By Thùy Linh/Thanh Thuy
Tags:
Paradise Papers tax evasion tax fraud individuals business organisation offshore General Department of Taxation verification

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