PM tells authorities to investigate tax evasionPrime Minister Nguyen Xuan Phuc has assigned the Ministry of Finance (MOF) and General Department of Taxation (GDT) to study media reports on transfer pricing of foreign direct investment (FDI) enterprises and tax policy. Media reports have suggested the Government to build a more effective mechanism to tackle the problem that prolonged loss-making FDI enterprises have still enlarged investment and production. However, it can be difficult to know the truth as the tax authority is not empowered to investigate. Tax policyApart from transfer pricing, the Government’s Office also quoted a report on Doanh nhan Viet Nam (Entrepreneur) newspaper saying that tax incentives are biased in favour of region rather than sector. Tax authorities have not issued any documents and notices certifying the tax exemption or reduction to enterprises, it said.— VNS

Source: VietNamNet News July 27, 2018 03:22 UTC