Vietnam: Tax collection increases, enhanced audits | KPMG | GLOBAL

Vietnam: Tax collection increases attributed to enhanced audits

Vietnam: Tax collection increases, enhanced audits

While the decrease in crude oil prices in 2015 adversely affected Vietnam’s state budget, information from the Ministry of Finance reveals that revenue collection increased by almost 8%, with this increase in revenue being attributed to aggressive and expanded tax audits (in particular, audits involving transfer pricing issues), increased recovery of tax debts, and newly crafted tax policies designed to increase tax revenue.


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The government in 2016 has introduced or is expected to introduce measures to strengthen the tax laws and policies and to increase tax revenue collection. Already, the Ministry of Finance has submitted to the National Assembly amendments relating to the value added tax (VAT) law, the special consumption tax, and the tax administration law. The National Assembly is expected to consider these measures during its 20 March 2016 session. If approved, it is expected that this would be followed by the issuance of new sets of tax decrees and circulars to implement the legislative changes. 


Read a 2016 report prepared by the KPMG member firm in Vietnam: Vietnam State Budget and tax actions in 2016

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