City collects over VND 1 trillion from late payments

The Department of Tax in HCMC collected VND 1,072 billion (US $50.8 million) in late taxes from January to March this year.

These taxes were collected after thorough audits of 2,899 businesses. The state budget will receive VND 371 billion (US $17.5 million). VND 1.588 trillion (US $ 75 million) will compensate for tax losses and VND 70 billion (US$ 3.3 million) will compensate for tax reductions.

The department collected and fined VND 114 billion (US $5.4 million) VND 18 million (US $853,200) from Hoan My Medical Company and Pho 24 Company respectively for personal income tax and administrative penalties.

By Dinh Ly - Translated by Uyen Phuong

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