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Vietnam: MoF proposes clearing, freezing tax debts
Vietnam: MoF proposes clearing, freezing tax debts
Wednesday, 10 August 2016 – The Ministry of Finance (MoF) has proposed clearing and freezing tax debts of enterprises totalling VN?14.7 trillion (approximately US$655 million) as one of the measures to tackle the difficulties they are facing.
Under the proposals submitted to the Government, the ministry will probably eliminate the penalties for late payments of taxes incurred by enterprises that provided goods and services, and were supposed to receive payments from the State budget, though the State has not made all payments. Through the end of 2015, the fines total VN?542 billion ($24 million).
The authority also plans to erase tax debts and fines for overdue payment totalling VN?7.4 trillion ($331 million) for tax payers whose businesses were dissolved or went bankrupt before January 1, 2014. Read More?