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Saturday, June 22, 2024

MoF wants overseas travel ban on tax debtors strengthened

The Saigon Times

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HCMC – The Ministry of Finance (MoF) has requested the local tax departments to intensify measures to prevent individuals and business representatives who have not fulfilled their tax obligations from traveling abroad.

A recent Ministry of Finance report said outstanding tax debts have soared in many parts of the country in recent months, particularly unpaid land use fees and rents.

To address the situation, Minister of Finance Ho Duc Phoc proposed establishing a supervisory committee dedicated to recovering outstanding tax debts, land use fees, and rent payments within provincial and city jurisdictions.

The local tax departments will enhance overseas travel bans on individuals or legal representatives of businesses who are subject to administrative penalties regarding tax management.

This year, the tax offices are tasked with intensifying supervision and recovery of overdue tax debts to ensure that the ratio of overdue tax debts to the total actual state budget revenue by year-end does not exceed 8%.

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