HCMC tax agency inspects over 7,200 businesses

The HCMC Taxation Department reported that its divisions had inspected 7,230 businesses in the first five months this year and imposed penalty on tax dodgers and tax liability companies. 

Businesses submitting documents the  HCMC Taxation Department (Photo: SGGP)

Businesses submitting documents the HCMC Taxation Department (Photo: SGGP)

The inspection helped collect nearing VND1,754 billion ($77.29 million), a year on year increase of 37.19 percent.
Businesses’ loss amount decreased VND5,041 billion and value added tax deduction reduced VND175.5 billion.
In the upcoming time, the agency will focus on inspecting large-scale groups with high revenue; businesses in fields of multi-level marketing, petrol and medicine; companies receiving tax refund; loss making firms with signs of transfer pricing; those who have not been inspected for many years and enjoying tax incentives.

By T.QUANG – Translated by Hai Mien

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