DEC 18, 2019 / 10:09 Anh Hong
The Hanoitimes – Local authorities are trialing ways to prevent multinationals from structuring affairs in order to divert profits to low tax jurisdictions.
Tax authorities are stepping up efforts to deal with possible tax avoidance or evasion by foreign-invested enterprises (FIEs) to ensure that they pay the tax due in Vietnam.
|The revenue loss associated with tax issues was equal to 1% of Vietnam’s GDP.|
Tax Departments of Hanoi and Ho Chi Minh City have recently revealed that thousands of FIEs are failing to comply with tax regulations and the tax authorities are investing the issue to make public the list of violating enterprises.