tax evasion

Update news tax evasion

Vietnam steps up tax scrutiny of foreign invested enterprises

Local authorities are trialing ways to prevent multinationals from structuring affairs in order to divert profits to low tax jurisdictions.

Vietnam is urged to tighten origin rules to avoid investigations

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.

 

Vietnamese government to crack down on trade fraud

The Government will adopt stricter penalties to prevent foreign goods being exported to the other markets under Vietnamese labels to avoid tariffs.

 

HCM City shames customs tax evaders

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.

 

Booking.com, Agoda must pay tax in Vietnam

All businesses have to pay tax for income they earn in Vietnam. However, Vietnamese taxation bodies have not found solutions to force foreign online booking agents such as booking.com and Agoda to fulfill their tax duties.

Earning VND2 billion via Facebook, millionaires still can evade tax

VietNamNet Bridge - About 50 dollar millionaires in Vietnam earn billions of dong a month via Facebook, according to a Facebook representative. However, the taxation body said it cannot collect taxes from these sellers.

Finance Ministry tells online hotel booking services to pay tax

Agoda, Traveloka, Booking and Expedia have to pay VAT (value added tax) and CIT (corporate income tax), which is 5 percent of total revenue, for profits from doing business in Vietnam, according to the Ministry of Finance (MOF).

Vietnam loses VND4 trillion as it fails to collect tax on Chinese car imports

VietNamNet Bridge - Vietnamese enterprises are complaining that they cannot compete with cheap Chinese car imports that evade taxes.

To change or not to change

VietNamNet Bridge – The balance is tilting towards open-mindedness when Transport Minister Dinh La Thang orders affiliated agencies to take into prudent consideration the possibility of legalizing Uber taxi service,

Proof of corporations’ tax evasion continues to elude authorities

 VietNamNet Bridge – A number of foreign-invested enterprises have allegedly tried to evade tax over the last 10 years but no proof of guilt has been found.

Former ACB official sentenced to 30 years

 VietNamNet Bridge – The Ha Noi People's Court yesterday sentenced Nguyen Duc Kien, former vice chairman of the founding council of the Asia Commercial Bank (ACB), to 30 years imprisonment.

Legal Advice: What constitutes criminal tax evasion in Vietnam?

VietNamNet Bridge - Tax obligations often significantly burden businesses operating in Vietnam. To maximize profit, companies often seek out ways to avoid mandatory tax payments.

State agencies help alcohol distillers avoid tax

 VietNamNet Bridge – Bottled drinks with the label “functional food” and alcohol concentrations of up to 35 percent are regularly served at street shops and luxurious restaurants.

Legal loopholes cause loss of revenue to state coffers

 VietNamNet Bridge – Given the legal loopholes that exist in current tax laws, many have found it easy to circumvent government regulations and decisions by  ministries and agencies.

Most FIEs in Vietnam transfer pricing, evade tax

 VietNamNet Bridge – The practices of transfer pricing and tax evasion have been found at nearly all the foreign invested enterprises (FIEs) that the General Department of Taxation has inspected recently.

BUSINESS IN BRIEF 25/2

 Firm accused of tax evasion, titanium smuggling; MoF increases petrol, diesel prices; Work starts on $66.6m wood production line; Consumer confidence marks two-year high: market survey; EU tops list of Viet Nam trade partners

Party to report on mega corruption

VietNamNet Bridge – The Party Central Committee's Commission for Home Affairs has vowed to strengthen efforts to report on the nation's 20 most significant corruption cases this month.

Novelis Vietnam outsources products overseas to dodge tax?

 VietNamNet Bridge – Novelis Vietnam has been suspected by Vietnamese concerned agencies of attempting to evade tax by outsourcing aluminum strip coil abroad for export to third countries.

Social Headlines January 24

 Hanoi reduces sentences for 230 prisoners; Former CEOs in jail for tax evasion; Two killed in truck-train collision; Pet care services booming Tet; HCMC continues to raise poverty standards

Tax evasion in capital transfer deals remains a hot potato for MOF

 VietNamNet Bridge – The HCM City Taxation Sub-department has found that a lot of the capital transfer deals have been made recently, but the tax sums the agency has collected from the deals are modest.