Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.
Tax evasion, tax avoidance and transfer pricing are getting more complicated, particularly through affiliated transactions, due to incomplete and impractical policies, said Deputy Minister of Finance Tran Xuan Ha on July 15.
The investigation agency of Khanh Hoa province’s Police has started legal proceedings against Tran Vu Hai, head of the law firm Tran Vu Hai, and his accomplices on a charge of “tax evasion”, the Ministry of Public Security announced on July 2.
Management authorities are stepping up preventive measures to stop trade fraud and tax evasion related to Chinese commodities that illegally carry made-in-Vietnam labels due to escalating U.S.-China trade tensions.
Foreign firms like Facebook and Google dominate the digital ad market in Vietnam but pay no taxes, a minister says.
The Government has approved an agreement between Vietnam and China’s Macau Special Administrative Region on the avoidance of double taxation and prevention of income tax evasion.
The Investigation Police Agency under the Ministry of Public Security has begun criminal proceedings against Hoang Huu Chau for “swindling to appropriate assets” in the case relating to Phan Van Anh Vu (also known as Vu Nhom).
Royal International Corporation, which runs the Casino Gaming Club in Ha Long City, has violated several tax regulations, provincial authorities say.
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.
VOV.VN - The European Commission (EC) has decided to terminate an anti-dumping investigation into pallet trucks after coming to a conclusion that there was no tax invasion of these products imported from Vietnam.
In the latest draft of Law on Corporate Income Tax, the Ministry of Finance has raised a regulation aimed at preventing multinational companies with related-party transactions from evading taxes.
The Ministry of Finance (MoF) will continue coordinating with the State Bank of Vietnam and other competent authorities to review the use of Malaysian company Grab’s grants from the mother company to its local branch.
The Ministry of Finance has released a detailed report on Grab Vietnam’s consistent annual losses since it began operating in the country, despite the ride-hailing app’s mushrooming popularity among local commuters.
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.
Deputy Prime Minister Vuong Dinh Hue has signed a policy decision encouraging cash-free transactions in Vietnam in order to reduce the number of cash-based deals, improve overall electronic payment methods and control tax evasion.
The local-based Vntrip.vn has said that it found shortcomings and lack of transparency in competition between domestic and foreign enterprises, especially in online hotel booking.
Cross-border e-commerce management should be integrated and synchronous to ensure equality and transparency, said Phan Duc Hieu, deputy director of the Central Institute for Economic Management (CIEM).
The Vietnam Steel Association will protect the interests of local firms after Vietnamese steel exporters were accused of tax evasion in the US, said the association’s vice chairman, Nguyen Van Sua.
The choice of words has been questioned by Vietnamese officials and the company may be punished with a fine.
Significant changes in the newly-released draft decree on transfer pricing and tax erosion avoidance is grabbing companies’ attention on the matter of compliance.