Latest News about tax evasion
Territories are subject to different tax rates by Steam, but Vietnam is not included, although this platform has subsidized Vietnamese users since 2017.
The General Department of Taxation inspected 72 enterprises suspected of indulging in transfer pricing, collecting taxes and imposing fines of VND212 billion,
Dozens of thousands of local advertisers of Facebook and Google are on edge since the Law on Tax Administration has come into force on July 1.
While FDI firms continue to report losses, they keep expanding operations in the country.
Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.
The Ministry of Industry and Trade (MoIT) has said it will talk with the US on the case of local Minh Phu seafood firm, which was accused of tax evasion in the US.
Minh Phu Seafood Corp shares fell for a second day after the company confirmed it would co-operate with the US investigation into whether the Vietnamese firm had evaded anti-dumping taxes or not.
Nguyen Nhat Kha, acting director of Risk Management Division under the General Department of Vietnam Customs speaks about measures to manage risks, prevent tax evasion and commercial fraud.
Local authorities are trialing ways to prevent multinationals from structuring affairs in order to divert profits to low tax jurisdictions.
Some Vietnamese exports have been investigated for origin fraud and tax evasion, which requires tougher action from the Vietnamese Government to settle the problem and keep its exports growing.
The Government will adopt stricter penalties to prevent foreign goods being exported to the other markets under Vietnamese labels to avoid tariffs.
As of May 15, the total tax debt at the HCM City Customs Department reached VND2.4trn (USD102.2m), of which over VND1.4trn were bad debts.