State Audit of Viet Nam completes 96% of annual plan, recovers $360m

By the end of September, the audit authority completed 150 audits, reviewed 140 draft audit reports and issued 85 auditing reports. — Photo cbhitech.com.vn

The State Audit of Viet Nam (SAV) has carried out 222 audits out of total 232, equivalent to 95.7 per cent of its yearly plan, recovering nearly VND8.4 trillion (US$360.5 million) for the State budget in the last nine months.

By the end of September, the audit authority completed 150 audits, reviewed 140 draft audit reports and issued 85 auditing reports.

The preliminary results of 140 audit reports showed that additional collection for the State budget reached nearly VND8.4 trillion, the reduction of Government spending was VND17.56 trillion and other proposals for financial handling was VND30.07 trillion.

For management of official development assistance (ODA) capital during 2015-17, SAV proposed handling VND2.65 trillion. It also pointed out some shortcomings and deficiencies in the management and use of ODA funds.

Concerning VAT tax management in 2017, SAV proposed recovering nearly VND97 billion for the State coffers and other financial handling worth VND1.26 trillion involving VAT refund. At the same time, it found wrongdoings in some build-transfer (BT) projects.

According to SAV’s report to National Assembly deputies, only 1 out of 12 BT project in the 2013-17 period invited tenders for construction while the others assigned contractors which reduced the competitiveness of the projects. In addition, misconduct relating to land allocation or prices could have risked wasting State assets.

The total value of three sample BT projects decreased over 60 per cent after the audits, from VND4.42 trillion to VND1.73 trillion.

Inspections of high-tech zones in HCM City also revealed the price of land lease did not abide with the Government’s regulations, including misconduct in land rent exemptions and leasing land at lower prices compared to the city’s ruling.

Particularly, through comparison of tax payments by 2,605 non-State enterprises in 41 localities, the audit authority concluded the increase in the State budget was VND1.77 trillion, with tax debts up by VND3.08 trillion.

SAV expects to complete the remaining audits planned for this year by November 10 and issue audit reports before December 31. – VNS