Overdue tax arrears increase by 939b dong

The figures from general Department of Vietnam Customs stated that the total amount of overdue tax arrears as of May 31 was estimated at about 5.823 trillion dong, rising 939 billion dong against the accumulated tax debts as of the end of 2011.

Of which, irrecoverable debts were over 2.534 trillion dong, pending debts for exemption, reduction and extension consideration were 446.8 billion dong and recoverable debts were 2.842 trillion dong.

According to the general Department of Vietnam Customs, the main cause behind increasing tax arrears was due to the difficult economy in the first months of 2012, many enterprises with inefficient business operations, loss or bankruptcy.

 

Category: Finance