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USD7.5m in tax arrears recouped from car importers

10/11/2016

Recent report from the HCM City Customs Department show that 110 car importers had submitted wrongful tax declarations and owed over VND169.30bn (USD7.56m) in tax arrears.

The case was discovered after various inspections were carried out from January 2011 to September under the prime minister and Ministry of Finance's directives about tightening management over car imports.

 

Billions in tax arrears recouped from car importers

The importers failed to fulfil their tax duties including excise tax, corporate income taxes and VAT. Some of the most notable cases are Au Chau Automobile Company that owed VND82bn (USD3.67m) and Motor Image Vietnam Company which owed 55bn.

In July, the General Department of Vietnam Customs reported on pricing fraud for imported cars in the form of gifts and donations in which importers declared their commodity's value lower than market prices at customs departments in Hanoi, Hai Phong, Danang, HCM City and Ba Ria-Vung Tau Province.

The General Department of Vietnam Customs asked the departments to review suspicious cargoes.

Deputy Prime Minister Vuong Dinh Hue also ordered Ministry of Finance to investigate pricing fraud for imported cars in the form of gifts and donations in the first nine months of 2016. The ministry already reported nearly VND1trn (USD44.78m) of tax arrears owed by importers in various cities and provinces.

By Nguyen Tuyen | dtinews.vn | November 10, 2016 11:17 A
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