Tax sector has already settled over VND9.907 billion in tax

VCN – According to the latest statistics from the General Department of Taxation, as of November 2, the whole tax sector has already settled VND9.907 billion of tax.
5301-5114-dsc-0206
Tax sector have to implement tax relief and cancellation about VND 17,050 billion in the last two months. Photo: TL

Implementing Resolution 94/2019/QH14 of the National Assembly on tax debt relief and cancellations of late payment fines and interest for insolvent taxpayers, tax departments across the whole country have rushed to prepare dossiers, procedures and orders to charge off and cancel tax debts.

According to the latest report, as of November 2, there were 49 of 63 tax departments issuing tax debt relief decisions with the total amount of tax debts reaching VND9,907 billion, equivalent to 62% of the goal assigned by the General Department of Taxation.

In particular, Hanoi Tax Department has already charged off VND3,301 billion, HCM City Tax Department is VND2,167 billion; Hai Phong Tax Department is VND537 billion.

As for debt cancellation, by November 2, Binh Dinh Tax Department submitted to Binh Dinh Provincial People's Committee to issue a decision to cancel debt of VND43 billion. On the other hand, the tax departments are submitting to the People's Committees of the provinces and cities to issue decisions to cancel debts or are in the process of publishing information and preparing debt relief documents. Along with that, the Debt Management Department is also processing debt cancellation requests sent by some tax departments.

According to the General Department of Taxation, the remaining tasks in the last two months of the year are to charge off and cancel debts of VND17,050 billion. Of that, the amount of tax debt relief is VND6,693 billion and the amount of debt cancellation is VND10,357 billion.

Recently, the General Department of Taxation has also asked the head of the tax authorities to focus on directing and inspecting the handling of tax debt relief and cancellation of late payment fines and late payment interest that are no longer able to pay into the state budget in accordance with Resolution No. 94/2019/QH14 of the National Assembly.

With this work, the professional division and the legal department must assess the right subjects for tax debt relief and cancellation. Along with that, the dossier must be complete and follow the order of steps as specified in Circular No. 69/2020/TT-BTC dated July 15, 2020 of the Ministry of Finance for submission to competent authorities (People's Committee, General Department of Taxation, Ministry of Finance, and the Government) to strictly implement tax debt relief to ensure the right subjects, to handle the amount of debts that cannot be paid into the budget to reduce tax debts.

By Thùy Linh/Thanh Thuy

Related News

Tax sector exceeds revenue target 2024

Tax sector exceeds revenue target 2024

VCN – Currently, the revenue managed by the Tax sector has reached VND1,538,000 billion, exceeding the 2024 estimate. This positive result was said by the leader of the General Department of Taxation at the Finance Forum “Financial policies to promote aggregate demand for economic development”.
Four business directors face exit bans over persistent tax debts

Four business directors face exit bans over persistent tax debts

VCN - The HCM City Customs Department has issued exit suspension notice for four business directors who have persistently failed to settle their import-export tax debts. The exit restrictions took effect on November 12, 2024.
Tax sector determines to take enterprises as the center of service

Tax sector determines to take enterprises as the center of service

VCN - That was the affirmation of Deputy General Director of the General Department of Taxation Mai Son at the Tax - Customs forum in 2024 organized by Vietnam Financial Times on the afternoon of October 16, 2024.
Over 5,000 firms with tax debts at HCM City Customs publicized

Over 5,000 firms with tax debts at HCM City Customs publicized

VCN - HCM City Customs Department has just publicized the list of over 5,500 enterprises with tax debts, overdue fines and enforced overdue debts since the deadline for payment in July 2024, with a total debt of over VND2,453 billion.

Latest News

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.
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.
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.

More News

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.
Drastic measures needed to accelerate disbursement of foreign-funded public investment

Drastic measures needed to accelerate disbursement of foreign-funded public investment

Drastic measures are needed to remove roadblocks and accelerate the disbursement of foreign-funded public investment in the remaining months of this year, as the disbursement rate remains far below the target of 95 per cent, according to the Ministry of Finance.
Urging collection of land-related revenues in the last month of the year

Urging collection of land-related revenues in the last month of the year

VCN – In order to achieve the highest revenue target in the last month of 2024, creating momentum for the good implementation of socio-economic development tasks in 2025 and the period 2026 - 2030, the Prime Minister assigned the Ministry of Finance to promote revenue management solutions, strictly control tax assessment, tax declaration, tax payment, and collect arising revenues, especially revenues related to land.
Read More

Your care

Latest Most read
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.
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

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

According to 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.
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

Regarding disbursement progress of public investment from foreign loans in the final months of 2024, Department of Debt Management and External Finance reported that ministries and agencies had disbursed over VND3.285 trillion
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.
Mobile Version