Tax sector prevents violations of the law on management and use of invoices

VCN - In the face of complicated developments of invoicing mistakes, the tax sector is enhancing solutions to prevent, detect and promptly handle violations of the law on management and use of invoices.
Positive changes in revenue structure of tax sector Positive changes in revenue structure of tax sector
Tax sector has integrated 30 additional administrative procedures to National Public Service Portal Tax sector has integrated 30 additional administrative procedures to National Public Service Portal
Tax sector prevents fraud from VAT refund Tax sector prevents fraud from VAT refund
5844-2157-dsc-0216
Currently, invoicing mistakes remain complicated. Photo: Thuy Linh.


Invoice trading remains complicated

According to statistics, in 2017, the tax sector discovered 3,354 enterprises using 382,876illegal invoices. Tax agencies at all levels handled and collected VND96.7 billion of value added tax and corporate income tax.

In 2018, 2,983 enterprises were discovered with 58,812 illegal invoices, earning VND46.3 billion of value-added tax and corporate income tax.

In 2019, 1,137 enterprises were discovered with 54,988 illegal invoices, earning VND51 billion of value-added tax and corporate income tax.

According to the General Department of Taxation, despite initial results, invoicing mistakes remain complicated.

In fact, some organizations and individuals have taken advantage of the State's open policy on conditions for enterprise establishment; the mechanism of self-declaration and self-payment of taxes; mechanism of self-printing, issuance, and management anduse of invoices to establish, purchase, sell and merge enterprises in order to print, issue, and use illegal invoices to evade tax, refund tax, make illegal profit, causing loss of state budget revenue.

Stop violations on invoices

To prevent, detect and handle violations of the law on invoices, the General Department of Taxation requested tax departments to enhance solutions to prevent, detect and promptly handle violations of law on management and use of invoices.

The General Department of Taxation required tax agencies at all levels to organize the identification of enterprises with risks of illegal printing, issuance, use and sale of invoices; grasp behaviors and methods of organizations, individuals and enterprises using, buying and selling illegal invoices.

At the same time, to collect data about taxpayers, especially suspicious transactions from the banking supervisory authority; and information from other state management agencies; make a list of taxpayers with risks of printing, issuance; using and trading of illegal invoices, thereby reviewing and analyzing collected data about taxpayers to identify taxpayers atrisk of invoices.

The General Department of Taxation also required tax agencies at all levels to conduct close supervision for taxpayers at high risk of invoices, in which assigning units to monitor and strictly control printing and issuance, management and use of invoices for taxpayers; check and review tax declaration dossiers of taxpayers with regular high risks on invoices (monthly and quarterly).

Tax authorities also have to check and review the sale of single invoices, avoiding using single invoices to validate inputs, or as documents to implement settlement with the state budget, and organize inspections for enterpriseswith high risks of taxes and invoices.

The General Department of Taxation also required competent units of tax agencies to verify the taxpayer's operating status at the address registered with the tax agencies.Those that do not operate at the registered addresses shall be publicized on the website of the tax sector and shall be sanctioned.

Tax agencies at all levels also need to coordinate closely with the police agency to verify the origin of goods, verify buyers and sellers from beginning to end; closely coordinate, provide sufficient information and documents at the request of the police agency during investigation and settlement.

In the future, the tax agency will promote communication through mass media and open letters to raise awareness, create consensus and support from the business community and society and to minimize illegal invoice trading.

Hai Phong: Establish 15 firms selling fraudulent invoices worth VND 5,000 billion Hai Phong: Establish 15 firms selling fraudulent invoices worth VND 5,000 billion

VCN – Hai Phong City Police discovered a line of trading fraudulent invoices with a total value ...

In particular, the General Department of Taxation emphasized that tax agencies at all levels need to study and train to be ready for the use of e-invoices nationwide according to Government’s Decree No. 119/2018 / ND-CP.

By Thuy Linh/ Huyen Trang

Related News

Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs

Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs

VCN - On November 21, 2024, more than 300 enterprises from Southern Vietnam with significant import-export (I/E) volumes participated in a workshop held in Ho Chi Minh City. The event, organized by the General Department of Vietnam Customs, sought feedback on the draft decree amending and supplementing Decree No. 08/2015/ND-CP dated January 21, 2015, and the draft circular amending and supplementing Circular No. 38/2015/TT-BTC dated March 25, 2015, and Circular No. 39/2018/TT-BTC dated April 20, 2018, issued by the Minister of Finance.
Hanoi Customs resolves tax policy queries for enterprises

Hanoi Customs resolves tax policy queries for enterprises

VCN - Queries regarding customs consultation procedures and tax refunds due to price reduction clauses were addressed by the Hanoi Customs Department, providing clarity for businesses.
Quang Ninh Customs sees revenue boost of nearly VND 900 Billion from new enterprises

Quang Ninh Customs sees revenue boost of nearly VND 900 Billion from new enterprises

VCN - Efforts to attract and support businesses have significantly boosted state revenue for the Quang Ninh Customs Department, thanks to a proactive approach in facilitating customs procedures.
Developing supporting industries for the billion-dollar export commodity groups

Developing supporting industries for the billion-dollar export commodity groups

VCN - Electronic products and components are one of export commodity groups with turnover exceeding one billion USD, but the supporting industry for this group is still modest.

Latest News

Banks increase non-interest revenue

Banks increase non-interest revenue

VCN - Slow credit demand and fierce competition have forced banks to seek ways to increase non-interest revenue, especially when there is a lot of support from the digital transformation of the entire banking system.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN – In order to achieve goal of strictly managing public debt and maintaining security and safety of the national financial system in 2025, it is necessary to ensure the borrowings and repayments of public debts is within the approved estimate; closely monitor public debt indicators to ensure that they are within the ceiling and warning thresholds approved by the National Assembly.

More News

Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

VCN - On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws. Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai emphasized the need for the Government to direct the drafting body and relevant agencies to collaborate closely to finalize a persuasive and widely supported report, ensuring the quality of the draft law for the National Assembly's consideration and decision.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
State-owned securities company trails competitors

State-owned securities company trails competitors

Contrary to the outstanding performances in the banking sector, the securities subsidiaries of major banks have yet to fully leverage their potential, despite numerous inherent advantages.
Strengthening the financial “health” of state-owned enterprises

Strengthening the financial “health” of state-owned enterprises

VCN - The state economy plays a key role in the socio-economic development process, but it is necessary to strengthen the financial health and competitiveness of state-owned enterprises (SOEs).
U.S. Treasury continues to affirm Vietnam does not manipulate currency

U.S. Treasury continues to affirm Vietnam does not manipulate currency

VCN - In its latest report, the U.S. Department of the Treasury has positively assessed Vietnam's monetary policy, reaffirming that Vietnam does not engage in currency manipulation.
Exchange rate fluctuations bring huge profits to many banks

Exchange rate fluctuations bring huge profits to many banks

Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
A “picture” of bank profits in the first nine months of 2024

A “picture” of bank profits in the first nine months of 2024

VCN - Pre-tax profits for banks during the first nine months of 2024 remained positive, exceeding 200 trillion VND, solidifying the sector's position as a market leader.
Many challenges in restructuring public finance

Many challenges in restructuring public finance

VCN - Restructuring public finance is an important step to improve state financial management, ensure resources are allocated reasonably and effectively, contributing to the country's sustainable development. In addition to the achieved results, the process of accelerating public finance restructuring also faces many pressures.
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

VCN - E-commerce platforms that declare and pay taxes on behalf of traders not only help to reduce the number of tax declaration points but also reduce the cost of compliance with administrative procedures for the whole society because only one point as the e-commerce trading platform implements tax deduction, payment and declaration on behalf of tens, hundreds of thousands of individuals and business households on the platform.
Read More

Your care

Latest Most read
Banks increase non-interest revenue

Banks increase non-interest revenue

VCN - In the first 9 months of 2024, the group of banks leading in profit has focused on increasing the ratio of non-term deposits (CASA) to help reduce operating costs, resulting in positive credit growth.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN - According to the plan for borrowing and repaying public debt and foreign debt of the country in 2025, the total borrowing demand of the Government in the year is expected to be at VND 815,238 billion, an increase of 20.6% compared to the Government'
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws.
Mobile Version