The Ho Chi Minh City tax office. Photo credit: VnExpress
The Ministry of Finance has ordered the tax department and tax offices in Hanoi and Ho Chi Minh City to publish the names of 600 businesses with the most unpaid taxes and debts this month, according to media reports.
Each will make a list of the 100 biggest tax defaulters and 100 with debts much higher than their capital, Deputy Minister of Finance Do Hoang Tuan Anh was quoted as saying.
The move is part of the finance ministry's effort to reduce the high ratio of unpaid taxes over collections, which is currently 10 percent, he said, adding that tax agencies also have to step up oversight of businesses.
Vietnam's total back taxes amount to VND72 trillion (US$3.29 billion) and the ratio is high in some places like Hanoi where it is 12 percent.
Tax agencies have to increase their revenues by 10 percent this year as part of the ministry's efforts to make up for the decrease in the country’s income from crude oil, Anh said.
The government’s revenues may be VND32 trillion ($1.46 billion) lower than estimated due to the sharp decline in crude oil prices, according to the ministry.
They were VND446 trillion ($20.43 billion) in the first six months, or 49 percent of the target, it said.