SUDDENLY "LOST" 50 MILLION USD BECAUSE TAX CALCULATION WAS CHANGED

14:26:0602/06/2021

The hot point of the dialogue with Japanese businesses chaired by Minister and Head of the Government Office Mai Tien Dung on December 21 was the fact that HOYA VN Company levied an additional tax of 50 million USD over 10 years. next.

The hot point of the dialogue with Japanese businesses chaired by Minister and Head of the Government Office Mai Tien Dung on December 21 was the fact that HOYA VN Company levied an additional tax of 50 million USD over 10 years. next.
This company's business is manufacturing glass substrates for magnetic disks, serving the internet and telecommunications equipment manufacturing industry - this is an industry that enjoys corporate income tax incentives.
However, after the tax audit in 2016, the Tax Department of Hung Yen province did not approve the tax policy being applied, and began calculating additional taxes from mid-2018. "That tax amount is estimated to be up to 50 million USD. within 10 years", this person said and proposed that the Government have an opinion in the direction that the Tax Department of Hung Yen province should continue to allow the company to enjoy current corporate income tax incentives (10% tax rate within 15 years, 4 years of tax exemption, 9 years of 50% tax reduction after establishment) to feel secure in expanding production.

Explaining this content, Mr. Luu Duc Huy, Director of the Policy Department of the General Department of Taxation, said that in 2018 and 2019, this agency continuously responded in writing to the Hung Yen Tax Department that it needed to work. with the Industrial Zones Management Board of Hung Yen province, because this is the agency that issues investment certificates to businesses, and is responsible for working with relevant ministries and branches to determine the level of investment incentives according to actual requirements. enterprise response. In case of necessity, report to the People's Committee of Hung Yen province for guidance. 

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