Update on tax audit and inspection trend in 2015
Global Tax Update:July 2015/Vietnam
The General Department of Taxation recently has assessed the actual performance of tax audit, tax inspection and tax debt for the first 4 months of 2015, and proposed an action plan for the rest of 2015 in order to reach the outline targets of state budget collection and tax audit based on risk management methodology. (Global Tax Update:July 2015/Vietnam)
The plan was targeted to conduct tax audit and tax inspection on 15% of existing tax-registered enterprises; conduct post tax inspection on 100% cases of VAT refund for enterprises which are exposed to tax risk; from which to add-on about VND 12,500 billion of tax collection to the state budget. The assessment comes-up with some significant contents as follows:
(1) The result of tax audit and tax inspection for the first 4 months of 2015 falls short
(2) Tax debt in the first 4 months of 2015 tends to increase
(3) Focus and actions in the remaining period of 2015
Deloitte Tohmatsu Tax Co. provides Japanese companies are considering developing business overseas with one-stop international tax services in relation to foreign investment to support their globally appropriate, optimal tax risk/cost management that is aligned with their business operations through Deloitte’s global network.