The tax sector’s state budget revenue was estimated at nearly VND500 trillion (US$21.73 billion) in the first five months of this year, equal to 97.6% of the figure of the same period last year.
Prime Minister Nguyen Xuan Phuc has commended the tax sector for doing a good job in reshuffling its apparatus, and urged the sector to continue with reform of tax procedures.
The HCM City Department of Taxation hopes to surpass its revenue target by at least 5 per cent this year.
Although the tax departments of Ho Chi Minh City and Hanoi have made great efforts to urge individuals and organizations conducting online sales via social network platforms to pay their taxes, the results have failed to match their expectations.
Handing over the right of prosecution and investigation to the tax authorities is expected to hinder tax evasion as well as delayed tax payments by enterprises, especially multinational firms in Vietnam.
A number of enterprises have taken advantage of technology used for tax collection to avoid paying taxes.
VOV.VN - Hanoi collected over VND93.9 trillion (US$4.1 billion) in taxes during the first half of this year, completing 50.1 per cent of its annual target and 18 per cent higher compared with the same period in 2016, the municipal Tax Department reported on July 10.
Various issues bar tax departments from collecting tax from Facebook sellers.
Ho Chi Minh City’s tax department has said it will work with related departments to impose sales taxes on businesses running on Facebook and other online shopping sites.
The Government Inspectorate of Vietnam has revealed that mismanagement in tax collection between 2012 and 2014 caused mounting arrears and losses of trillions of dong to the State exchequer.
Ho Chi Minh City has asked the municipal tax authority to enhance preventative measures against tax fraud and transfer pricing to ensure tax revenue and improve business confidence.
The southern metropolis Ho Chi Minh City collected VND35 trillion (US$1.52 billion) for its coffer during January 2017, departments and agencies reported the municipal authorities during a working session on February 6.
The customs sector collected VND261.49 trillion (US$12 billion) for the State budget this year to December 25, equal to 96.82% of the year target, according to the General Department of Vietnam Customs.
Provinces and cities in the Southern Key Economic Region should strengthen their linkages to enable the region to capitalise on its development potential, a recent seminar heard in HCM City.
National Assembly (NA) committees all want to tax second and subsequent houses purchased to restrict speculation, but it is still unclear when the tax would be applied.
Chinese traders buy farm produce from Vietnamese businesses, but don’t pay tax. As a result, VASEP has sent a dispatch to the Ministry of Finance, proposing to tax Chinese traders.
Deputy Prime Minister Vuong Dinh Hue has asked the finance sector to adopt drastic measures to ensure a balanced State budget and to meet State budget collection targets set by the National Assembly (NA) for 2016.
The collection of tax arrears in 2016 would be higher than that of last year, General Director of Taxation Bui Van Nam said.
The General Department of Taxation anticipates an 11.7% increase in tax collection next year, based on macroeconomic forecasts for 2016.
Prime Minister Nguyen Tan Dung has offered a number of specific instructions after being updated on the positive socio-economic performance during January-August, asking to continue maintaining firmly macro-economic stability.