Tuesday, November 13 2018

VietNamNews

Bad debts are heavy load on tax agents

Update: October, 20/2018 - 12:02
Nguyễn Đại Trí. — Photo thoibaotaichinhvietnam.vn

Nguyễn Đại Trí, deputy director of the Việt Nam Taxation Office talks to Hải Quan (Customs) newspaper about efforts to avoid losses in tax collection and to recover bad debts.

What are achievements gained in the taxation sector so far this year?

According to Việt Nam Taxation Office, in the first nine months of 2018, the State budget collected VNĐ962,500 billion, equal to 73 percent of the target – an increase of 13.7 percent compared with the same period last year.

This was 67.9 percent of the annual target – an increase of 13.7 percent compared to 2017.

In other words, the good management of tax collection has contributed to meeting the targets – a very important factor in the balancing between the collection and expenditure of the State budget.

What are the key driving forces that have helped the Taxation Office achieve such a big success?

At the beginning of 2018 we came up with four groups of solutions with 20 specific measures on how to achieve the set targets. We have also assigned tasks and targets for each province or taxation office to carry out their assigned tax collection missions.

The General Taxation Office has also worked closely with concerned agencies to implement the Government Resolution 01 on the key tasks and missions to ensure the successful implementation of the State Budget Collection target set for 2018.

On the other hand, all taxation offices nationwide should work closely together and give their quick response to those paying their taxes in accordance to the Law.

Do you think the Taxation Office will achieve the targets set by the National Assembly?

By now, I can say that all the targets set will be met, including the collection of the State Budget at the central level. We are also confident that we will surpass at least 3 per cent of the target set by the Minister of Finance for 2018.

Avoiding losses in tax collection and recovering all the outstanding debts are two important missions. What have you done in the last nine months to make sure these two tasks will be accomplished by the end of 2018?

From the beginning of the year, we organised several meetings to discuss plans on how to avoid losses in tax collection and to recover all the outstanding debts. During the meetings, we agreed on the imperative need to focus on the two main tasks, i.e. inspection and supervision visits and collection of over-due tax debts.

Regarding the work of inspection and supervision, in the last nine months, the Taxation Office has conducted 63,665 inspection and supervision visits. Through these visits, we came up with a conclusion that some additional VNĐ11,274 billion must be paid back to the State coffers. As for outstanding debts by now we have successfully recovered VNĐ 25,382 billion.

However, we have to admit there remain big challenges in the management of bad debts. It is reported that by Sept.30, 2018 the total debts which are subjected to the management of the Việt Nam Taxation Office has already reached over VNĐ 43 billion, including the fines for overdue payment (the fine is 0.03per cent/day for overdue payment). However, we, at the Taxation Office, vow to do our best to accomplish our assigned tasks.— VNS

 

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