What are the penalties for tax evasion? (Part II)

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What are the penalties for tax evasion? (Part II)

2. The fine which is 1.5 times as much as the amount of evaded tax shall be imposed on any taxpayer committing one of the violations prescribed in clause 1 of this Article under neither aggravating nor mitigating circumstances.

3. The fine which is 2 times as much as the amount of evaded tax shall be imposed on any taxpayer committing one of the violations prescribed in clause 1 of this Article under an aggravating circumstance.

4. The fine which is 2.5 times as much as the amount of evaded tax shall be imposed on any taxpayer committing one of the violations prescribed in clause 1 of this Article under two aggravating circumstances.

5. The fine which is 3 times as much as the amount of evaded tax shall be imposed on any taxpayer committing one of the violations prescribed in clause 1 of this Article under at least three aggravating circumstances.

6. Remedies:

a) Compelling the full payment of evaded taxes into the state budget with respect to the acts prescribed in clauses 1, 2, 3, 4, and 5 of this Article.

If the sanctioning time limits for the acts of tax evasion prescribed in clauses 1, 2, 3, 4, and 5 of this Article expire, taxpayers that are not sanctioned must fully pay the amounts of evaded tax, deferred tax calculated based on the amounts of evaded tax into the state budget according to the time limits prescribed in clause 6 of Article 8 herein.

b) Compelling the re-adjustment of losses, the amounts of input VAT deductions specified in tax dossiers (if any) in case of commission of the acts prescribed in clauses 1, 2, 3, 4, and 5 of this Article.

7. If any of the acts prescribed in points b, dd, and e of clause 1 of this Article is discovered after the expiration of the time limit for submission of tax returns, which causes neither any reduction in taxes payable or tax refunds nor any increase in amounts of tax exemption or reduction, such act shall be subject to administrative penalties stipulated in clause 3 of Article 12 herein.

As an established company in the field of tax and legal consulting, Vinasc hopes to adequately inform our customers to help them mitigate the risk during operation in Vietnam. Should there be any further concerns, please contact Vinasc’s Customer Care department for timely support.

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