With the tax collection budget pressure, we have observed that the tax authorities are currently:
- Less willing to grant concession and simplification related to tax issues; and
- More strict with tax interpretations that would result in lowering tax liabilities.
Typical Challenges facing by Business Community
- Preferable tax status rejected by tax authority causing inadvertent tax violation and subsequent penalties;
- Unexpected loss of tax benefits (incentives, refunds, deductibility, etc.);
- Missing opportunities for tax savings; and
- Financial Statement Tax Accruals for Uncertain Tax Positions.
Tax controversy in Vietnam. How Kreston can help
Kreston has often time successfully dealt with the tax authorities in various difficult tax cases for clients whilst maintaining strong business relationships with Vietnamese authorities at both central and provincial levels. Our tax controversy offers the followings:
- Tax audit assistance, including TP audit;
- Verbal discussion and advice from tax and custom authorities; and
- Tax petition services (i.e. assistance in obtaining tax rulings).