Which business in Ho Chi Minh City has large tax debt?

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Businesses transact at Ho Chi Minh City Tax Department. Photo: T.H

According to Ho Chi Minh City Tax Department, the total amount of receivable debt in the first six months of 2019 was VND 13,545 billion, up 52.09 percent compared to December 31, 2018.

In particular, debt from taxes and fees were VND 6,356 billion, an increase of 60.67 percent; land-related debts of VND 3,401 billion, up 155.14 percent; debt from fines and late payment were VND 3,769 billion, up 4.84 percent compared to December 31, 2018.

Tax debts rose significantly in the first half of 2019, mainly in the construction and real estate sectors.

Many companies have had significant increases of tax debts such as Phu Nhuan Construction and Housing Trading Limited Company owing more than VND 1,004 billion; Saigon Development and Investment Joint Stock Company owing VND 444 billion; Duc Khai Joint Stock Company owing VND 389 billion, and Ho Chi Minh City Housing Trading and Management Company owing VND 188 billion.

To handle these tax debts, the Ho Chi Minh City Tax Department has implemented many solutions for collection. Accordingly, for 90-day tax debts, the department has urged tax debt collection by measures calling, sending messages, and issuing notification on tax debt and late payment.

For more than 90-day tax debts, the department has taken enforcement measures. It has issued 24,135 decisions with the tax debt amount of VND 14,500 billion.

Ho Chi Minh City Tax Department has publicised on mass media 2,215 companies that delayed tax debt payment to the tune of VND 5,778 billion.

In the first half of 2019, the total amount of tax debts collected through coercive measures was VND 3,150 billion.