Conditions for writing-off of tax debts and fines for late payment of tax debts in Vietnam

17:20, 20/09/2008

Recently, the Ministry of Finance issued Circular 72/2008/TT-BTCguiding the implementation of several measures to handle outstanding tax debts in Vietnam.

Conditions for writing-off of tax debts and fines for late payment of tax debts in Vietnam (Internet image)

Circular 77/2008/TT-BTC stipulates the cases eligible and conditions for consideration of writing-off of tax debts and fines for late payment of tax debts in Vietnam:

- Tax and fine debts of goods lots for which customs declarations were registered after October 15,1998, and through June 30,2007, which were not yet remitted to the state budget.

- Availability of objective causes, such as policy change or unclear and unspecific guidance, specifically as follows:

+ New tax policy (relating to taxable prices and tax rates) was introduced after the date of registration of import declarations and had a retrospective effect, according to which, if recalculated, payable tax amounts were lower than those notified by customs offices to enterprises.

+ Customs offices' previous documents guiding the application of commodity headings and taxable prices were unclear and untrue to the actual state of goods or were incompliant with the law on import and export taxes, then were replaced by others or adjusted according to which, if recalculated, enterprises had to pay tax retrospectively.

More details can be found in Circular 77/2008/TT-BTC, which comes into force from October 17, 2008.

Ngoc Tai

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