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Vietnam Intensifies Tax Debt Recovery

According to the latest information from the General Department of Taxation, as of the end of July 2024, the total amount of recovered tax debt reached an impressive 50.527 trillion dong, up 26% compared to the same period last year. This achievement is the result of tireless efforts by tax authorities at all levels in pursuing outstanding debts.
 

Strong and Effective Measures 

To achieve this result, the tax authorities have synchronously deployed many solutions, including:

  • Strict debt management: Applying effective debt management measures, classifying debts, and clearly identifying the causes of debt for each subject to have appropriate solutions.
  • Determined enforcement: Implementing enforcement measures such as freezing accounts and seizing assets for tax debtors who deliberately procrastinate.
  • Public disclosure of information: Publicly listing large tax-debting enterprises and individuals to create social pressure and encourage them to voluntarily pay taxes.
  • Inter-sectoral cooperation: Strengthening cooperation with other agencies to share information and support debt recovery.
  • Application of technology: Using information technology tools to manage debt, analyze data, and improve work efficiency.

Notably, the measure of temporarily suspending the departure of large tax debtors has proven to be very effective. In the first 7 months of the year, nearly 18,000 cases were temporarily suspended from departure, creating great pressure, forcing subjects to quickly pay off their debts.

Outstanding Results

  • Recovering 50.527 trillion dong: This figure demonstrates the tax authorities’ determination to recover debts and ensure revenue for the state budget.
  • Up 26% compared to the same period: This impressive growth rate shows the effectiveness of the implemented measures.
  • Enforcement measures bring effectiveness: The application of enforcement measures has helped recover a large amount of tax debt.

Challenges and Solutions 

However, tax debt recovery still faces many difficulties, especially in the context of an economy facing many difficulties due to the impact of the pandemic. Debts related to land and real estate are increasing, putting great pressure on debt recovery. 

To address these challenges, the General Department of Taxation needs to continue:

  • Improving the effectiveness of coordination: Strengthening cooperation between levels and sectors to share information and support each other in debt recovery.
  • Innovating working methods: Applying new technologies, modern working methods to improve work efficiency.
  • Strengthening communication: Strengthening communication about the meaning of paying taxes, raising awareness of people and businesses about their obligation to contribute to the state budget.

Conclusion 

Tax debt recovery is an important task, contributing to ensuring revenue for the state budget and serving the cause of building and developing the country. With the achievements already achieved and the solutions being implemented, it can be expected that tax debt recovery will continue to achieve new successes in the future.