Tax authorities collected over 23,000 billion VND of tax debt by the end of August

VCN – According to the statistic of General Department of Taxation, by the end of August, the total amount of debt collected by the Tax sector was over 82,800 billion VND. It increased by 1,340 billion VND compared to the same point of time in 31/7/2018.
tin nhap 20180916163245
Tax authorities would strengthen monitoring and supervision for the implementation of urging and debt enforcement. Photo: TL

In that, the group of tax debt for 90 days and over 90 days was over 48,000 billion VND, accounting for 58% of total amount of tax debt, including: the amount of tax and fees was 22,859 billion VND (accounting for 27.6% of total amount of tax debt); The amount of debt related to land was 8,856 billion VND (accounting for 10.7% of total amount of tax debt), increased by 974 billion VND (+12.4%) compared to the same point in time in 31/7/2018. The fines for administrative violations and late payment of tax were 16,308 billion VND (accounting for 19.7% of total tax debt).

Remarkably, the group of irrecoverable debts (from taxpayers who died, lost or lost their civil act ability, related to criminal liability, dissolved themselves, went bankrupt, stopped, stopped and run away from their business address) was over 34,800 billion VND. This debt accounted for 42% of total debt, increased by 3,349 billion VND compared to 31/12/2017 and increased up to 409 billion VND compared with 31/7/2018.

By using drastic measures, as of 31/8/2018, the tax authorities have promoted debt collection by more than 23,000 billion VND of tax debt. This amount was equal to 55% of the debt up to 90 days and over 90 days as of 31/12/2017. In that, tax collection by applying debt management measures was 15,799 billion VND and by using coercive measures was 7,325 billion VND.

According to the General Department of Taxation, in the future, the tax authorities will strengthen monitoring and supervision for the implementation of urging and debt enforcement. At the same time continue to disclose tax debt information to the units that intentionally delay to pay tax debt.

By Bảo Minh/Thanh Thuy

Related News

Separate handling measures will be applied for each subject of a tax debt via classification

Separate handling measures will be applied for each subject of a tax debt via classification

VCN - To handle tax debt, avoid revenue loss for the state budget, and remove difficulties for businesses and taxpayers, the tax sector will focus on classifying tax debts to have appropriate debt collection measures for each subject.
Two companies forced to suspend import and export due to late payment of taxes

Two companies forced to suspend import and export due to late payment of taxes

VCN – As of August, the two HCM City-based companies have been forced to suspend their import and export activities as they failed to pay taxes worth over VND4.2 billion.
Handling of tax on goods that cannot be produced domestically

Handling of tax on goods that cannot be produced domestically

VCN - Amid the problems of Binh Phuoc Customs Department related to the handling of tax on goods that cannot be produced domestically, the General Department of Vitenam Customs has given instructions.
Tax authority cancels VND1,470 billion of tax debts and late payment fees

Tax authority cancels VND1,470 billion of tax debts and late payment fees

VCN- The Tax sector has settled charge-off and debt cancellation under the provisions of Resolution No. 94/2019/QH14 and Law on Tax Administration.

Latest News

Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion, equaling 30.9% of the estimate, up 5.3% over the same period in 2022.
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

More News

In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Consider raising the level of penalties to ensure fairness and transparency in the stock market

Consider raising the level of penalties to ensure fairness and transparency in the stock market

VCN - Mr Pham Hong Son, Vice Chairman of the State Securities Commission, discussed solutions to improve the capacity, improve fairness and transparency of the stock market.
Central bank cuts policy interest rates to spur growth

Central bank cuts policy interest rates to spur growth

The State Bank of Vietnam (SBV) announced it would reduce several policy interest rates from April 3, the second cut within one month, the regulator announced on its website March 31 night.
Ensure policies to attract investment when implementing global minimum tax

Ensure policies to attract investment when implementing global minimum tax

VCN - On the afternoon of March 30, in Hanoi, the Ministry of Finance held a regular press conference in the first quarter of 2023, chaired by Deputy Minister of Finance Nguyen Duc Chi. Many issues related to the tax field were discussed and answered at the conference.
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

The State Bank of Vietnam (SBV) has suggested the Government to issue a revised decree on foreign investors buying shares from Vietnamese credit institutions.
Solutions to attract FDI when implementing the global minimum CIT

Solutions to attract FDI when implementing the global minimum CIT

VCN - On March 29, the Vietnam International Arbitration Center (VIAC) and the Center for International Integration, the Ho Chi Minh City Institute for Development Studies, jointly held a seminar on Global Minimum Corporate Tax – outlook and challenges in attracting foreign investment (FDI) in Ho Chi Minh City.
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

VCN – The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.
Being many "hot" issues at the general meeting of shareholders of banks

Being many "hot" issues at the general meeting of shareholders of banks

VCN - International Commercial Joint Stock Bank (VIB) will be the first bank to hold a general meeting of shareholders this week, and then April will be the "peak" for banks to deploy.
Bringing the policies on reducing land rent and water surface rent into life

Bringing the policies on reducing land rent and water surface rent into life

VCN - The tax sector is drastically implementing dissemination and support to make the policy of reducing land rent and water surface rent in 2022 fully effective.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion,
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.
In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Mobile Version