Hanoi again announces 144 companies owe tax debt

Hanoi Tax Department

There are 131 businesses owing 160.503 billion VND and 13 units owing land rental charges of 33.323 billion VND.

At the top of the list is Construction Investment and Import-Export Canh Vien Constrexim JSC with more than 11 billion VND. Next is Design Consultancy and Urban Development JSC with more than 10,6 billion VND; and Investment Building Housing JSC with more than 5,5 billion VND as at the end of May 2016.

Other companies with smaller debts are Millennium Corporation owing more than 5 billion VND; Ngoc Linh Ltd. more than 4,4 billion VND, and other companies. In particular, Tan Phu Long JSC owes over 13,4 billion VND, and Import-Export and Construction Investment Ltd. owing 4,8 billion VND.

It clear to recognise that companies operating in the construction and real estate sectors are at the top of the debt list. Furthermore, these firms also dominate most of the other lists which have been announced.

This is the 7^th time since the beginning of the year that the Hanoi Tax Department has announced the debt. According to the Hanoi Tax Department, the announcement of the tax debt list on the mass media will improve compliance by taxpayers with the law on taxation and contribute to the completion of budget collecting in 2016.

With the efforts of the Tax offices in Hanoi and the recovery of the economy, the Hanoi Tax Department expects project owners and enterprises to arrange financing source as soon as possible in order to clear all the tax debt before Tax authorities apply strict measures.