The provincial Taxation Department was asked to strengthen measures to recover tax arrears and prevent tax losses, transfer pricing, and constant loss reporting.
The Hai Duong provincial People’s Council’s Economy and Budget Board on the morning of 19 November had a working session with the provincial Taxation Department on results of realizing the estimates for State budget revenues in 2013, development of estimates for 2014, and solutions to the collection for the State budget.
The provincial Taxation Department clarified a number of contents required by the supervision team.
Accordingly, specialized divisions of the Hai Duong provincial Taxation Department are focusing on inspecting FDI enterprises. However, it is very difficult to check transfer pricing activities due to the lack of a firm legal basis.
The provincial Taxation Department has intensified dialogues with FDI enterprises, especially those gaining large revenues but often reporting losses; warned some enterprises frequently reporting losses, such as Sumidenso Vietnam Co., Ltd., Uniden Vietnam Co., Ltd.; and increased revenues from foreign contractors, etc.
Regarding the project of Ha Noi – Hai Phong motorway, the provincial Taxation Department has required three main contractors and all sub-contractors to come to tax agencies for registration of tax codes and declaration as prescribed.
By the end of October 2013, 18 sub-contractors had declared taxes with an amount of nearly VND11 billion, 16 sub-contractors had paid almost VND7.2 billion of tax in accordance with regulations, etc.
The supervision team asked the provincial Taxation Department to strengthen measures to recover tax arrears and prevent tax losses; preclude transfer pricing and constant loss reporting of FDI enterprises; focus on research to put forth measures to reasonably decentralize tax administration; and work out estimates for State budget revenues in 2014 closely associated with reality, especially the revenue from land use, for the provincial People’s Council to make suitable spending plans for 2014.
VI THUY
Đăng ký: VietNam News
