More than 250 firms are inspected by the General Department of Taxation

DNHN - According to the General Department of Taxation, 37.62 thousand inspections, inspections, and recommendations were made in the first eight months of 2022 to collect approximately 7.72 trillion VND into the state budget, reducing deductions by 1.1 trillion VND, resulting in a loss of 26.65 trillion VND.

From the beginning of 2022 to the present, 258 enterprises with associated transactions have been inspected, resulting in arrears, arrears, and fines totalling VND 551.65 billion; a loss of 7,617.34 billion dongs; a deduction of 6.18 billion dongs; and an increase in the taxable income of 1,636.04 billion dongs.

Strengthening VAT refund inspection and examination, conducting risk assessment and classification of refund dossiers to perform 100% inspection and examination within one year (from the time of tax refund) for dossiers identified as high risk, particularly with the export tax refund of some items such as tapioca starch, rubber, cashew nuts, wood chips, agricultural products, and so on.

According to the General Department of Taxation, this agency has requested the Tax Departments of the provinces and centrally-run cities to take measures to control the inspection and examination activities of enterprises in the area ensure to avoid overlapping with plans of superior tax authorities and other functional agencies as prescribed; Strengthening the inspection and examination of tax law observance at e

In line with the Ministry of Finance's directive, strengthen the inspection, examination, and review of tax declarations and payments for real estate commercial activities. Review and assess hazards, as well as inspect high-risk firms; Increase tax scrutiny and investigation for businesses with linked transactions; Continue to increase the efficiency of tax administration, tax inspection, and examination for e-commerce firms across the country.

To prevent and limit transfer pricing to avoid tax, the General Department of Taxation, Ministry of Finance, has studied and submitted to the Government and the National Assembly for promulgation regulations on tax administration for related-party transactions in the Law on Tax Administration and the Decree. The tasks, powers, and obligations of several ministries and sectors relevant to transfer pricing policy have been added to the 2019 New Year Tax Administration Law.

The Ministry of Finance presided over and submitted to the Government for promulgation Decree No. 68/2020/ND-CP amending and supplementing Clause 3, Article 8 of Decree No. 20/2017/ND-CP; Decree No. 132/2020/ND-CP stipulating tax administration for enterprises with associated transactions; and Circular No. 45/2021/TT-BTC promulgating the tax mechanism on June 18, 2021. Pre-agreement on taxable price determination technique (APA) in tax administration.

Many solutions have been implemented by the tax authority to prevent enterprise transfer pricing, such as propagandizing and supporting, urging the review of declarations, inspection and examination, and coordination with relevant agencies such as media, police, customs, departments, and so on, to improve the effectiveness of tax administration and implement anti-transfer pricing work.

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