Economists, applauding the decision to impose fines and force Coca Cola to pay tax arrears, totaling VND821 billion, said it is necessary to deal with foreign invested enterprises that evade tax and conduct transfer pricing. Le Dang Doanh, a respected economist, also said that evading tax and conducting transfer pricing is one of the tricks commonly played by big FIEs, but it is difficult to find evidence to accuse them. … [Read more...] about Coca Cola forced to pay tax arrears, taxation agencies urged to find more violators
Corporate income tax
Vietnam’s property sellers save big tax bucks with illegal ‘two-price’ practice
When an apartment at the Hado Centrosa Garden urban area project, a prime piece of real estate in the heart of District 10, Ho Chi Minh City, was first put on the market by the project’s developer in 2017, the buyer handed over VND5 billion (US$215,000) for the property. … [Read more...] about Vietnam’s property sellers save big tax bucks with illegal ‘two-price’ practice
To catch the tax dodger
It comes not as a surprise when the General Department of Taxation issues a decision forcing Coca-Cola Beverages Vietnam Limited to settle back taxes and fines totaling more than VND820 billion, or roughly US$35 million, as the beverages giant has long been in the spotlight for possible tax evasion via transfer pricing. The move by the taxman, however, serves as a major case study for authorities in dealing with fishy businesses by many foreign-invested enterprises across the country. … [Read more...] about To catch the tax dodger
CPA Australia Survey: Tax Reform And Technology Adoption To Bolster China’s Stable Economic Growth In 2020
BEIJING, CHINA - Media OutReach - 17 January 2020 - Bolstered by the adoption of emerging technologies and the government's tax and financial sector reforms, most accounting and finance professionals expect China's economy to maintain a stable growth rate of above 5.5 per cent in 2020. In addition, three-quarters expect their company's profit will remain the same or increase, according to the China Economic and Business Sentiment Survey 2020 conducted by CPA Australia, one of the world's largest accounting bodies. … [Read more...] about CPA Australia Survey: Tax Reform And Technology Adoption To Bolster China’s Stable Economic Growth In 2020
Customs and tax authorities try to make life easier for enterprises
The Vietnam Automated Cargo and Port Consolidated System/Vietnam Customs Intelligence Information System (VNACCS/VCIS) has been deployed at all units under the General Department of Vietnam Customs, helping improve the efficiency of customs clearance activities in detecting and fighting against trade fraud and illegal trade. Customs and tax agencies are operating the single-window mechanism and providing favorable conditions for taxpayers and customs declarants. … [Read more...] about Customs and tax authorities try to make life easier for enterprises
