No new projects for developers in arrears

A view of Xa La housing project. The Hà Nội Department of Taxation has proposed to the municipal People’s Committee not to approve new projects or adjustments for property developers with tax arrears.— Photo vietnamnet.vn

HÀ NỘI — The Hà Nội Department of Taxation has proposed to the municipal People’s Committee not to approve new projects or adjustments for property developers with tax arrears.

As of November-end, the total value of arrears of developers in the city was some VNĐ400 billion (US$17.6 million).

The municipal tax watchdog asked the local tax departments to clarify causes for slow payments and propose measures to collect the arrears.

The names of several such projects were C.E.O Investment’s Quốc Oai District New Urban Area, Lai Châu Construction No 1’s Xa La housing project and Constrexim’s Bắc Hà project. — VNS

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