There has been no loss of tax revenue from donated and gifted cars

	Customs reviews activities of organizations that receive donated cars
	Tax payable increases by more than VND1,400 billion after re-valuation of cars as gifts
	Forbid to use donated and gifted cars not in line with criteria and norms

Minister of Finance Ho Duc Phuc at the question-and-answer session.

At the question-and-answer session of the Minister of Finance on June 8, Deputy Nguyen Danh Tu (Kien Giang) asked the Minister to clarify that the Law on Property Auction, stipulating the five responsibilities of the Minister of Finance in property auctions.

Answering the question, Minister of Finance Ho Duc Phoc said, regarding the property auction, the Ministry of Justice advises the Government to promulgate regulations on auction but regarding public property management and in the Law on Property Auction, the Ministry of Finance will strictly perform the functions and tasks specified in the law.

For property auctions it is important to work out the starting price. For example, land price will be decided by the Provincial People's Committee under the guidance by the state and the Ministry of Natural Resources and Environment. Other auctions are also assigned to sectors and the Ministry of Finance is also responsible for monitoring the asset auction process, in accordance with regulations.

The Minister said that the Ministry of Finance has not expressed their role much in the field of auctions, as the preparation work is carried out by the People's Committees at all levels. However, when the operation of an auction is done by the Auction Center under the Ministry of Justice or the auction company and the investigating agencies will investigate when there are violations in the auction.

At the question-and-answer session, Deputy Tran Hong Nguyen (Binh Thuan) asked the Minister of Finance about the issue of donated and gifted cars, which is actually a way of circumventing the law for tax evasion, causing loss of state budget revenue. He wanted the Minister of Finance to speak more about breakthrough solutions offered by the Finance sector to realize the Party and State's policy on rotation, mobilization and change of working positions of civil servants, especially those in sensitive positions, such as tax and customs fields.

Responding to Deputy Tran Hong Nguyen, Minister of Finance Ho Duc Phoc said that for cars as gifts and donations, according to regulations, car manufacturers must set up dealers in Vietnam to transfer car trading through dealers. However, there are many types of cars that are sold in small quantities, so the manufacturers do not have an agent.

Therefore, taking advantage of this loophole, businesses switch to the form of gifts and donations. Donated and gifted cars according to current regulations are not exempt or reduced of any taxes.

The Ministry of Finance has also conducted inspections and found that businesses declared undervalue, but the customs authority based on the customs regulations for taxes for vehicles to determine the tax payable and collect tax arrears.

After the press reflected this problem, Deputy Prime Minister Le Minh Khai requested the Ministry of Finance work with the Ministry of Public Security to conduct investigations. The Ministry of Finance assigned the General Department of Customs to work with C03 of the Ministry of Public Security to hold meetings and inspect more. Through the review of the Tax Departments, the General Department of Customs, General Department of Customs reported there has not a loss of tax revenue, since all taxes have been paid in full.

Regarding staff rotation, the Minister affirmed that the staff rotation work was seriously done by the Ministry of Finance. Every year, the Ministry of Finance rotates tens of thousands of officials in a very transparent and fair manner, thereby creating self-discipline for officials in customs, treasury and tax industries.

Normally, the list of staff subject to rotation for the following year will be released at the beginning of the year. The staff rotation within the agency is also implemented regularly.

The finance sector currently has about 67,000 officials and civil servants, but has not received many complaints on staffing work, rotation work, or about unfairness, non-transparency, improper policies in the process of staff rotation or downsizing.

With the question of Deputy Ha Duc Minh (Lao Cai) about the actual operational status of enterprises managed by the Ministry of Finance, the Minister said that the Ministry of Finance is managing some enterprises such as Baoviet Group, Debt and Asset Trading Company (DATC), Vietlott, Vietnam Securities Company, Vietnam Development Bank.

For the Vietnam Development Bank, the Ministry of Finance is proposing the Politburo and Government about restructuring and improving operational efficiency. The remaining four enterprises all have profit after tax of 5% or more compared to 2020. Specifically, the Debt and Asset Trading Company has total assets of VND28,000 billion, revenue of VND1,500 billion; Bao Viet Group has a profit after tax of VND1,030.5 billion, an increase of over 10% year-on-year.

The Ministry of Finance directs GDVC to clarify the import of supercars as gifts

The Ministry of Finance requires enterprises to make quarterly and monthly reports on their production and business situation, difficulties and problems in the production and business process, and assigns the Department of Corporate Finance of the Ministry to manage these enterprises.