Specifically, according to Section 7 of the Appendix issued with Official Letter No. 2220/TTCP-KHTH, the General Department of Taxation (under the Ministry of Finance) is directed to focus on conducting inspections and audits on businesses operating in sectors with high revenue potential or significant risk factors.
The business entities targeted for increased inspections and audits include:
- Businesses operating in sectors with high risk or significant revenue potential such as oil and gas, petroleum, electricity, telecommunications, banking, and e-commerce.
- Large-scale enterprises that have not been subject to inspections or audits for many years.
- Businesses involved in transactions such as capital transfers, brand transfers, or investment project transfers.
- Enterprises issuing securities, paying dividends in the form of shares, or issuing bonus shares.
- Businesses engaged in related-party transactions (RPTs), showing signs of transfer
- Enterprises with high risks related to invoice usage.
- Businesses showing signs of fraud or high potential risk in tax refunds.
- Enterprises submitting applications for tax exemptions or reductions under Double Taxation Avoidance Agreements (DTAs).
- Businesses with unusual or suspicious transaction information.
Accordingly, the General Department of Taxation will focus its inspections and audits on the following areas:
- The implementation and execution of directives from higher-level authorities;
- Compliance with legal regulations on tax inspections and audits within the tax sector;
- Proper adherence to legal regulations related to value-added tax (VAT) refunds;
- Management of tax debts and enforcement of tax debt recovery; as well as the management and use of public assets and finances;
- Compliance with the Law on Thrift Practice and Waste Combat (2013) and the Law on Anti-Corruption (2018); as well as the handling of complaints and denunciations;
- Adherence to legal regulations in organizing and managing tax personnel.
