In the first four months of 2021, the entire tax sector inspected 22 associated enterprises, and collected the amount and reduced revenue losses of hundreds of VND billion, according to the General Department of Taxation.

The Tax sector has inspected more than 140, 000 tax declarations at Tax Office.
Photo: T.L 

According to the General Department of Taxation, by the end of April, it conducted 13,333 inspections, reaching 12.8% of the plan in 2021 and 102.1% compared to 2020. The tax sector also checked 140,610 tax declarations, hitting 11.4% compared to 2020.

The total revenue from inspection was VND9,768.7 billion or 52% compared to the same period in 2020. Total increased tax revenue from the inspection was VND2,196 billion VND331 billion from tax deduction and VND7,241 billion from loss reduction, bringing a total tax amount paid to the State budget to VND1,139.8 billion or 51.9% of increased revenue. According to the General Department of Taxation, by the end of April, 600 firms were inspected, reaching 11.3% of the plan in 2021; 12,733 enterprises were inspected, hitting 12.9% of the plan for 2021. More than 140,000 tax declarations were inspected, or 114.4% compared to 2020. Through inspections, the tax sector has detected errors and frauds of taxpayers to revise up declared tax amount or conduct tax assessment.

From the beginning of the year to the end of April, the entire tax sector inspected 22 associated firms. It collected VND628 billion from tax arrears, tax refund and fines, and VND765 billion from tax loss reduction, VND94.9 billion from tax reduction and VND208.7 billion from revised taxable income.

The inspection has re-determined the market price for associated transactions, the tax sector collected VND590.4 billion of tax arrears and VND672.9 billion of loss reduction, with VND166 billion of revised upwards taxable income.

According to the General Department of Taxation, tax authorities will focus on inspecting at taxpayers’ offices for units in high-risk industries and sectors and inspect suspicious transactions.