Taxmen will audit enterprises which have alllegedly made suspicious transactions. — Photo thuvienphapluat.vn

HA NOI (Biz Hub)  — The tax authorities will audit enterprises which have allegedly made suspicious transactions, according to a list provided by the State Bank of Viet Nam's Anti-Money Laundering Information Centre.

Deputy finance minister Do Hoang Anh Tuan instructed the General Department of Taxation's (GDT) Inspectorate to audit the firms named in the Anti – Money Laundering Information Centre's list this month. The firms can possibly evade paying more than VND50 billion (US$2.347 million) in taxes.

Municipal and provincial taxation departments will be responsible for investigating those who can possibly evade taxes of less than VND50 billion.

Tuan said that the audit results must be submitted to the GDT and the Anti-Money Laundering Information Centre within 45 days of receiving the Anti-Money Laundering Information Centre's list.

According to the GDT, the tax agencies collected an additional VND4.119 trillion or $193.38 million in the first half of 2014, up 80.8 per cent year on year after the audit of 20,983 firms.

During the period, the agencies also investigated 557 firms which had declared losses and showed signs of transfer pricing, and collected an additional VND580 billion or $27.23 million.

The GDT reported that the country's tax collection in the first half of the year was VND335.09 trillion or $15.73 billion, up 14.5 per cent year over year and equal to 53.7 per cent of the annual tax collection target. Forty-six of 63 cities and provinces nationwide met more than half of their tax collection targets in H1.

To increase the tax collection in the second half of the year, finance minister Dinh Tien Dung asked the GDT to intensify the collection of tax arrears and to take bold measures against tax evasion.

The GDT must focus on investigating suspect enterprises, and create favourable conditions for the production and businesses of firms by organising regular dialogues to help them resolve their tax-related problems. — VNS