The Vietnam Tax Administration (VTA) have wide ranging powers to conduct investigations. It will often start an investigation by sending a letter requesting information, but this can quickly escalate to demands to interview you, conduct visits to business premises, or seek information from third parties.
Whether you’ve received a letter from VTA, cannot reach an agreement, or just feel VTA simply isn’t listening, we can help. Enlist the support of Pinklaw's specialists.
What should you do?
VTA will open an enquiry and issue a letter when it suspects that your tax affairs contain irregularities. Some letters can seem welcoming and polite, whereas others can be far more accusatory in tone. However, all must be handled with caution and you should consider your next steps carefully to ensure matters do not spiral out of control. As such, we recommend you:
1. Stay calm – We understand that receiving one of these letters can be an extremely stressful experience. However, it’s important you remain calm and consider your options carefully. Acting impulsively could make things worse.
2. Do not ignore the letter – Not responding to the letter is not an option. If VTA receives no response, it will continue to investigate your tax affairs, and your failure to cooperate could lead to much higher penalties further down the line. In some cases, it may even lead to criminal prosecution.
3. Seek specialist advice – While we recommend being cooperative and transparent with VTA, responding without specialist guidance and advice could result in you incurring unnecessary tax, interest, and penalties.
Here’s why you should consider a tax investigation specialist
Specialist advisers, like us, will guide you around potential pitfalls and manage your case to make sure you’re properly protected.
At Pinklaw, our team will give you an unparalleled insight into the enquiry process and VTA’s powers. We utilise our knowledge to anticipate VTA’s likely course of action and expertly guide our clients through the enquiry process, reducing your exposure to tax and penalties for you.
When considering appointing specialist representation to deal with a VTA investigation, you and your advisers should ask the following questions:
– Do you feel comfortable dealing with VTA?
– Are you able to manage and control VTA?
– What potential penalties are involved and do you know how best to minimise these?
– Are there any errors in your tax/VAT affairs that you should disclose and, if so, how did these errors happen?
– Are you sure which irregularities are deliberate and which are non-deliberate, and are you confident you can defend this position if pressed by VTA?
– What is the best way of addressing your tax affairs to secure a better settlement or outcome with VTA?
– Can you go to prison?
– Are you concerned about being publicised as a tax defaulter?
If you feel hesitant or uncomfortable about your ability to deal with the any of the above points, it’s in your best interest to consider appointing a specialist.
How we can help
Pinklaw provides services on Tax Consultation and Reception for Tax Authorities (referred to as Tax Reception), which means we will handle VTA at your business address on your behalf.
We use our unique understanding of VTA to robustly defend our clients’ position, ensuring that any disputes with VTA are resolved as quickly and as cost-effectively as possible. Pinklaw’s array of multi-disciplined and specialist teams, all housed under one roof, will work collaboratively to provide you with the most comprehensive advice and representation.
Should you choose to get specialist advice from Pinklaw, we will help ease the burden by:
- Carrying out a comprehensive review of your tax affairs, working with you and your professional adviser (if applicable), to ensure we have a full understanding of the issues and risks you’re facing.
- Preparing and executing a tailored strategy going forward to minimise your potential exposure to unnecessary tax, interest, and penalties.
- If necessary, presenting an accurate disclosure to VTA which ensures that you’re treated fairly and proportionately.
- Fast-tracking your investigation to resolution and closure of all issues at minimum cost and disruption to you.
Our service is discreet and comprehensive, tailored to meet your unique needs and protect your interests. Get in touch below for help today.
Get help today
Call us today or leave us a message at office@pinklaw.vn and a member of our team will be in touch. All communications are in the strictest confidence.