597 enterprises with related party transactions inspected for tax

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The Tax sector checks 500,878 tax dossiers at the Tax office. Photo: TCT

According to the latest report from the General Department of Taxation, the entire Tax sector has performed 47,373 inspections, meeting 64.1% of the plan, up 6.6% year-on-year. The Tax sector has inspected 500,878 dossiers, reaching 88.3% compared with the year ago.

The report also showed that the total additional payable amount increased by 32% year-on-year to VND42,917 billion. The total additional tax from inspection was VND9,852 billion, the reduced deductible amount VND1,468 billion and the reduced loss VND31,597 billion.

The General Department of Taxation said that at the end of September, the tax authority inspected 2,464 enterprises, meeting 45.6% of the plan in 2022. The total amount of tax arrears, refund arrears and fines was 2,714, reduced deductible amount VND241 billion and reduced loss VND13,216 billion.

The Tax authority has strengthened inspection at the premises of the tax payer. Accordingly, 44,750 enterprises were inspected, reaching 65.3% of the plan. The total amount of tax arrears, refund arrears and fines was VND6,094 billion, reduced deductible amount VND1,152 billion and reduced loss VND16,744 billion.

The Tax authorities at all levels have checked 500,878 dossiers, meeting 88.3% compared with the previous year; collected additional revenue of VND767 billion, reduced deductible amount VND58 billion and reduced loss VND1,130 billion. The tax authorities have detected errors and frauds of taxpayers to revise up the tax amount or implement tax assessment.

Notably, the Tax sector has focused on inspecting enterprises with related party transactions. Accordingly, the Tax sector has inspected 597 enterprises with related party transactions; collected the total amount of tax arrears, refund arrears and fines VND1.054 billion, reduced loss VND15,722 billion, reduced deductible amount VND15billion and additional taxable income VND2,132 billion.

Of which, from inspecting and re-determining the market value for related-party transactions, the tax sector collected VND406 billion and reduced a loss of VND13,903 billion.

Regarding the inspection after VAT refund, 63 tax departments have implemented 4,646 inspections and collected VND29,644 billion of tax refund, bringing the total revenue collected from refunded tax arrears and fines to VND414 billion.