The Ministry also plans to relinquish late tax fees for taxpayers who were struck by natural disasters, fires, accidents or other force majeure circumstances. Speaking at the same meeting, economist Nguyen Minh Phong said that freezing tax debt arrears was a recurring theme. The combined amounts of tax loss under tax and customs agencies in 2017 amounted to almost half of the national tax debts. Unrecoverable debt levels have been high in recent years, prompting tax authorities to implement drastic measures to speed up enforcement and recovery of tax debts. According to the GDT, the tax branch will implement changes in tax debts management in order to improve State budget’s revenues in 2018, by associating tax recovery with administrative reforms for taxpayers across all economic sectors.

Source: VietNamNet News March 07, 2018 07:41 UTC