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Tax Newsletter

Tax inspections and audit in 2016

General Department of Taxation request to increase tax inspections and examinations in 2016.

General Department of Taxation has recently announced the results of tax inspections and examinations in Quarter I 2016, as follows. Grant Thornton Vietnam is very pleased to summarize results and expected actions to be taken by the local tax authorities for your perusal.

Number of enterprises that were inspected and audited: 8,034 enterprises, reaching 8.96% of the tax inspection plan
for 2016 (8,034 enterprises over 89,650 enterprises)

Total additional tax collections through the inspections and examinations: VND2,332.5 billion, equivalent to 140.4% in
comparison with the first three months in 2015. In which:

  • Additional tax collection: VND1,622.5 billion;
  • Recollect of tax refund: VND166.1 billion;
  • Penalty: VND488 billion;
  • Additional tax collection through tax inspections at the tax department: VND55.9 billion;
  • Reduction in losses: VND4,518.4 billion;
  • Reduction in creditable input VAT amount: VND101.5 billion.

We hope you will find these updates helpful and please do not hesitate to contact us on any queries you might have on these updates as well as our services. We will be happy to help.

Newsletter No.6 2016