Ministry proposes delinquent tax rescheduling

The suggestion was wholeheartedly supported by economists who said the move will help businesses surmount current difficulties.

Deputy Head of the National Assembly Committee for Financial and Budgetary Affairs Dinh Van Nha said it is necessary to erase delinquent tax for businesses which have been trapped in difficulties.

He said the Finance Ministry submitted to the National Assembly the idea of writing off debts for a number of enterprises in 2014 and 2015, which has yet been approved due to unclear criterion related. He also noted that the finance sector will be responsible for ensuring the debt clearance and tax rescheduling will be carried out fairly.

The Finance Ministry suggested erasing delinquent tax worth VND542.5 billion as by the end of 2015 for enterprises which have yet had their basis construction investment paid by the State.

It proposed a write-off of over VND7.42 trillion in tax for enterprises and household-based and individual-run businesses which were dissolved or went bankrupt before January 1, 2014.

The ministry also proposed rescheduling a delinquent tax amount of VND6.73 trillion for tax payers who went bankrupt, faced dissolution, or abandoned their operation in 2014-2015.

It reported that there were around 500,000 businesses operating in recently, with 10 percent of them, which were dissolved, unable to meet payment, and faced bankruptcy not filing for bankruptcy.