HCM CITY — A number of businesses in HCM City, particularly those operating in the real estate sector, are facing significant tax debts due to financial constraints and liquidity issues. In addition to the real estate sector, companies from other sectors such as textiles, manufacturing, trade, and transportation are also facing tax debts. Experts have warned that the issue of tax debts reflects the broader economic challenges faced by businesses in the country’s largest city. The city Department of Taxation has urged local tax departments to step up efforts to recover these tax debts and disclose information about businesses with significant and long-standing tax debts. For tax debts exceeding 90 days, stricter enforcement measures will be implemented to recover these outstanding amounts, according to the department.

Source: Viet Nam News September 02, 2023 06:35 UTC