Vietnam: Authority to write off tax debts, late payment interest, and fines

Specifically, according to Clause 22 Article 1 of the Amending Law on Tax Administration 2012 of Vietnam amending and supplementing Article 67 of the Law on Tax administration 2006, the authority to write off tax debts, late payment interest and fines is prescribed as follows:

- The Presidents of People’s Committees of central-affiliated cities and provinces shall write off the tax debt, late payment interest, and fines of taxpayers being enterprises that are declared bankrupt prescribed in Clause 1 Article 65, the individuals prescribed in Clause 2 and Clause 3 Article 65, the households prescribed in Clause 3 Article 65 of the Law on Tax administration 2006 of Vietnam.

- The authority to write off tax debts of the taxpayers not falling into the cases prescribed above:

+ The Prime Minister shall write off the tax debts, late payment interest, and fines of at least ten billion VND;

+ The Prime Minister shall write off the tax debts, late payment interest, and fines of from five billion VND to under ten billion VND;

+ The Director of the General Department of Taxation and Director of the General Department of Customs shall write off the tax debts, late payment interest, and fines of under five billion VND;

- The Government shall report the canceled tax debts, late payment interest, and fines to the National Assembly when submitting the State budget finalization to the National Assembly for approval.

- The Government shall specify the tax cancellation.

View more details at the Amending Law on Tax Administration 2012 of Vietnam effective from July 01, 2013 amending and supplementing a number of articles of the Law on Tax administration 2006 of Vietnam.

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