Revenues from dividend reach only 25pct after five months: tax agency

18-Jun-2016 Intellasia | TTXVN | 6:00 AM Print This Post

Talking to the press on June 15th 2016, Nguyen Van Phung, Head of the Agency of Tax Management on large enterprises under the general Department of Taxation (GDT), said that the revenue collected from dividend and profit in the first five months of the year only reached a low level of above 13.5 trillion dong, equivalent to approximately 25 percent of the estimates (about 55 trillion dong).

According to Phung, the reason is that many enterprises are still in the preparation for holding the annual shareholders meetings.

Confirming that the income from dividend cannot be lost because there is existing mechanism for monitoring, especially the monitoring of the representatives of the state capital, Phung shared that the decision to pay or not pay dividend is also connected to the financial picture of enterprises.

Given that the collection of dividend for taxation industry cannot be aggressive, Phung said that it should be implemented in compliance with the law. However, he also frankly said that the dividend payment also depends on the decision of the Shareholders committee of enterprises.

Previously, in relation with paying dividend, the Ministry of Finance (MOF) has issued document requesting the State Bank of Vietnam (SBV) to direct the representatives of the state capital at the Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV) and the Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank) to conduct a voting on the cash payment of dividend for 2015 to the state budget.

Talking to reporter of VietnamPlus on this issue, deputy director of the Corporate Finance Agency under the MOF Dang Quyet Tien said that if the plans to raise capital is included in the development strategy of these banks, they must be approved by SBV and consult MOF. He added that the finance industry has sent document to SBV requesting the representatives for the state capital at these two banks to provide explanation. If the explanation is incorrect and the plans to raise capital are not approved by the competent agency, Tien confirmed that the two banks must comply with the regulations and pay dividend on time to the state budget.


Category: Economy, Vietnam

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