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Economic News

Last updated: Wednesday, July 18, 2018

 

Tax Audits Add over VND1,600 Billion to State Coffers

Posted: Thursday, June 21, 2018


Tax authorities performed over 17,700 inspections in the first five months of 2018, reaching nearly 20 per cent of the full-year plan, said the General Department of Taxation. Tax audits reduced discounts of over VND324 billion and loss of more than VND5,700 billion, and added over VND1,600 billion to the State Budget.

Having carried out 17,700 inspections, tax authorities discovered many wrongdoings in tax declaration of taxpayers who were required to correct declarations and pay fines as prescribed by the law.

The report released by the General Department of Taxation showed that tax inspections helped increase tax revenue by over VND4,100 billion, reduce discounts by more than VND324 billion, decrease losses by over VND5,700 billion, and added over VND1,600 billion to the State Budget.

Regarding tax declaration inspection at tax offices, more than 164,600 tax declaration forms had been checked in the year to the end of May 2018, helping add VND72.85 billion to the State Budget, reduce discounts of VND27.31 billion and cut loss of VND16.83 billion.

As for inspections into companies, tax authorities inspected 75 companies with associated transactions as of May 21, 2018. They collected, retrieved and fined more than VND323 billion, reduced losses by VND1,800 billion, reduced discounts by VND1.65 billion and revised up taxable incomes by over VND837 billion.

The report showed that 63 tax departments across the country checked over 1,800 decisions on VAT refunds with a total value of over VND11 trillion as of May 21, 2018.

Thanh Nga








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