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Bank accounts of Vietnam's Bamboo Airways frozen over unpaid taxes

Bank accounts of Vietnam's Bamboo Airways frozen over unpaid taxes

Wednesday, November 08, 2023, 16:37 GMT+7
Bank accounts of Vietnam's Bamboo Airways frozen over unpaid taxes
Three bank accounts of Bamboo Airways were frozen after it failed to pay taxes within 90 days of the due date. Photo: Lam Thien / Tuoi Tre

Vietnamese air carrier Bamboo Airways had its bank accounts frozen after it failed to pay taxes totaling VND102.5 billion (US$4.2 million) within 90 days of the due date, according to a local tax official.

Nguyen Dau, director of the Tax Department of Binh Dinh Province in south-central Vietnam, where the airline is headquartered, said on Wednesday that the department had conducted coercive measures to collect the tax arrears by extracting money from the firm’s bank accounts and freezing the accounts.

Bamboo Airways’ frozen accounts are at three banks, including the Bank for Investment and Development of Vietnam - Quy Nhon Branch, Military Commercial Joint Stock Bank - Binh Dinh Branch, and the Vietnam Technological and Commercial Joint Stock Bank.

The taxman asked these banks to extract money from Bamboo Airways’ accounts to credit to the account of the Binh Dinh Department of Tax.

If the amounts in the airline's accounts are not enough for the tax arrears payment, these banks have to extract the amounts after deducting the minimum amounts for the account maintenance, and keep extracting money if the account balance increases during the validity of the tax agency's decision.

Once Bamboo Airways fulfills its tax obligations, the tax department will ask the banks to unfreeze the air carrier's bank accounts, Dau added.

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Thanh Ha - Lam Thien / Tuoi Tre News

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