Tax inspection is actively investigating big companies to detect violations. (Photo: timesofmalta.com)
Hanoi (VNS/VNA) - Severallisted companies on the two national stock exchanges have been punished fortax-related violations.
They have paid penalties of up to several million US dollars due to an allegedlack of understanding of the regulations.
The biggest listed energy company PV Gas(GAS) on January 3 was told it must pay 106 billion VND (4.7 million USD) intax arrears and administrative penalties for late payment.
The Department of Taxation’s decision saidthe company followed improper procedures resulting in the tax obligations andpenalties.
Earlier, DHG Pharmaceutical Joint StockCompany (DHG) reported that it had to pay an additional amount of 30.7 billion VNDto the State budget for understating its income and other tax-relatedviolations.
According to DHG’s filing to the HCM StockExchange, the underestimate was a common data error by enterprises across thecountry and were not intentional, but misunderstandings.
The Hanoi Tax Department has also announcedpenalty of 210 million VND for technology firm CMC Corporation (CMG), a 2.2billion VND penalty for Thang Long Investment Group JSC (TIG) and a 3.3 billionVND penalty on steelmaker Son Ha International JSC (SHI).
All three companies on the Hanoi StockExchange were penalised for value-added tax arrears, false declarations andlate payment.
Nguyen Van Phung, director of TaxAdministration, said enterprises did not have a clear understanding of taxregulations in many different situations and were heavily dependent on taxconsultants.
Phung said tax authorities had used manycommunication channels to publicise new regulations to businesses, thusenterprises blaming ignorance were just making excuses.
“The majority of tax-related violations isintentional,” Phung told vnexpress.net, adding that tax inspectors wereactively investigating big companies to detect violations and strengthen lawenforcement.
Meanwhile, Nguyen Luong Nhan, managingdirector of audit company DFK Vietnam, attributed many violations to thenegligence of auditing companies.
He said tax was an important part of afinancial statement, so if things were not clear, the auditor should alwaysrequest the business to ask to consult with the tax authority. If violationswere detected, the blame could fall on the auditor. - VNA
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Tax inspection is actively investigating big companies to detect violations. (Photo: timesofmalta.com) 
