100% of businesses showing signs of tax risks will be inspected.

From now until the end of the year, the tax sector will continue to review and inspect businesses with tax risks in accordance with legal regulations to prevent loss of state budget revenue.

The General Department of Taxation has requested local tax authorities to focus on in-depth analysis to select key contents to be inspected, select enterprises with high risks regarding tax, tax refund, enterprises that have not been inspected for many years (regarding the use of illegal invoices, documents, tax incentives, capital transfer, trademarks...) to conduct immediate inspection and examination. At the same time, strengthen inspection and examination after tax refund, ensuring 100% of value added tax refund dossiers according to regulations.

100% of businesses showing signs of tax risks will be inspected.

According to the Inspectorate of the Ministry of Finance, in the third quarter and the first nine months of 2017, the tax sector also actively deployed applications to check tax declaration records, applied risk management in tax administration to identify and focus on inspection and examination of business establishments with signs of high risk.

In the first 9 months of 2017, tax authorities at all levels conducted 57,935 inspections and examinations at enterprises and examined 354,426 tax declarations at tax authorities. The amount of tax collected through inspections and examinations was more than 11,597 billion VND. Of which, the tax amount proposed to be recovered was more than 9,616 billion VND; fines were more than 1,980 billion VND; the amount of tax paid to the State budget was more than 6,553 billion VND.

The subjects of management, inspection and examination are enterprises with foreign direct investment (FDI), enterprises with related-party transactions in the high-risk tax category such as: Enterprises declaring continuous losses; enterprises suddenly incurring losses after the investment incentive period, enterprises with large-scale related-party transactions or frequently transacting with related parties in countries with low tax rates...

According to Tin Tuc Newspaper