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Foreigners failing to pay tax will be banned from exiting Vietnam: new law

Thursday, June 13, 2019, 10:45 GMT+7
Foreigners failing to pay tax will be banned from exiting Vietnam: new law
People carry out transactions at the customs department at Tan Son Nhat International Airport in Ho Chi Minh City. Photo: Quang Dinh / Tuoi Tre

Foreigners who have not paid compulsory taxes will not be allowed to leave Vietnam, according to an adjusted law on taxation passed by the lawmaking National Assembly on Thursday morning.

The Vietnamese legislature adopted the amended Law On Tax Administration, with 91.32 percent of the votes saying yes.

Foreigners, Vietnamese people leaving Vietnam for settlement in another country, overseas Vietnamese, and those subject to forceful taxation are required to fulfill their taxpaying duties before they are permitted to exit Vietnam, according to the bill submitted to the National Assembly for approval.   

Anyone of those failing to pay required taxes will be temporarily banned from leaving the country.

Individuals who are the legal representatives of taxpayers subject to forceful taxation will be prevented from exiting Vietnam if they have not finished paying such taxes.

The new law also bans collusion between taxpayers, public servants, and the taxman to evade taxes and carry out transfer pricing, understood as transactions and arrangements within and between enterprises under common ownership or control to minimize the tax to be paid.

It prohibits altering, misusing, illegally accessing, and destroying the taxpayer database.

Late tax payment will subject taxpayers to 0.03 percent in daily interest, according to the new law.

The law will take effect on July 1, 2020.

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Tuoi Tre News


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