City to probe diverted tax collections
City to probe diverted tax collections
The Ha Noi Tax Department will conduct inspections on 13,393 companies located in the capital city, according to the department.
The inspections aim to reduce unpaid tax and force businesses to comply with tax laws, thus avoiding losses for the State budget.
Business sectors to be inspected include pharmaceuticals, tourism services, advertising, television, gold and silver trading, real estate, electricity, oil and gas, telecoms, online business, video games, medical equipment, hospitals and schools.
The inspections will focus particularly on businesses suspected of transfer pricing, as well as foreign-invested enterprises and businesses which have not been inspected for many years.
The city Tax Department will also focus on enterprises enjoying preferential tax arrangements and businesses enjoying incentives in industrial parks and export processing zones.
Tax refunds of property developers are also inspected.
According to the city Tax Department, as of 2012 the inspection performance has been reformed significantly. For instance, tax declaration at the tax offices has been effectively revamped by focusing on key businesses perceived to be ‘high risk'.
By doing so, the Department of Taxation has found many shortcomings under the current tax policy, which have been reported to the General Department of Taxation under the Ministry of Finance to handle promptly.
City tax inspectors are said to have checked and adjusted 18,000 tax records to retrieve tax.
Particularly, the city tax department last year retrieved VND110 billion from over 6,000 inspections to boost the State budget.
Under inspections, 33 businesses were found violating the law and were fined VND287 million, according to the department.
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