The tax sector collected over 1.1 quadrillion VND (46.13 billion USD) for the State budget in the first nine months of this year, a year-on-year rise of 21.6%, and equivalent to 93.9% of the yearly estimate, according to the General Department of Taxation.
Tax invasion and tax fraud are becoming more complicated at wider scope and larger scale and increasingly sophisticated, according to the leaders of the State Audit of Vietnam.
The Ministry of Finance (MoF) will continue coordinating with the State Bank of Vietnam and other competent authorities to review the use of Malaysian company Grab’s grants from the mother company to its local branch.
The Government will not raise public debt ceiling in order to ensure debt payment capacity and balance the national financial system, said Deputy Prime Minister Vuong Dinh Hue during the hearing session of the 14th National Assembly’s fourth sitting on November 16.
HCM City has asked the municipal tax authority to enhance preventative measures against tax fraud and transfer pricing to ensure tax revenue and improve business confidence.
At least 2,000 foreign enterprises in Indonesia committed tax fraud in the past decade by announcing that they are suffering from losses, according to the Ministry of Finance.
The Ministry of Finance on October 28 in Hanoi announced the establishment of the Office for Transfer Pricing Inspection under the General Department of Taxation.
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