Tax debt has gone over the VND 130,000 billion mark by the end of July

DNHN - The overall amount of tax owing by the end of July is 115,853 billion VND if you subtract the amount of tax arrears that are being addressed from the amount of tax arrears that are being complained about.

The General Department of Taxation says that by the end of July, people will owe the tax office a total of 133,639 billion VND in taxes. This debt grew by 16.2% compared to the end of 2021 and by 17% compared to the same time in 2021.

If you take out the amount of tax arrears being handled and tax arrears being complained about, the total amount of tax owed by the end of July is 115,853 billion VND.

There are 68,141 billion VND in tax debt that can be collected, which is up 0.5% from the end of June. There are also 22,748 billion VND in fines and interest on late payments that can be collected. Also, the amount of tax debt that can no longer be recouped is 24,964 billion VND, the amount of tax debt that is being processed is 7,980 billion VND, and the amount of tax debt that people are upset about is 9,802 billion VND.

In terms of tax debt recovery, the General Department of Taxation says that in July, about VND 3,600 billion worth of debt was collected. By the end of July, the tax sector had collected a total of VND 19,845 billion, which is equal to 47% of the amount of debt that needs to be collected by 2022.

By the end of July, the amount of total tax debt was about 11.4% of the estimated total revenue for 2022. In which, 7.7% is the rate of tax debt that can be collected. 2.1% of the estimated total revenue in 2022 is the amount of tax debt that can't be paid.

The General Department of Taxation said that the estimated total tax debt at the end of July was higher than it was at the end of 2021 because of interest on late payments, which was calculated at 0.03%/day of the total tax debt.

Many taxpayers in industries that are eligible for a tax payment extension have not yet asked for one, according to Government Decree 34/2022/ND-CP dated May 28, 2022, on the tax payment extension of time limit for payment of value added tax, corporate income tax, personal income tax, and land rent. The General Department of Taxation said, "The tax industry still has to keep track of tax debt, which makes the total tax debt go up."

The General Department of Taxation said that the main problem with some projects' debts for land use levy, land rent, and mineral exploitation rights is that the projects have not been put into operation yet. But the law says that the tax authority has to figure out the debt based on the notice of payment of land use levy, land rent, and mineral mining rights. This means that taxpayers still can't meet their obligations on budget.

Some taxes and land rents have run out, and tax authorities at all levels have taken steps to make sure they are paid. However, taxpayers still have trouble getting money and haven't paid the extra tax that goes to the state budget.

Also, even though later coercive measures like seizing assets, auctioning seized assets, and collecting the assets of the person being coerced have been used, it is still hard or impossible to carry out because taxpayers no longer have the money to do so or because they have mortgaged assets at credit institutions.

PV