Tuesday, November 29, 2016

Vietnam Report halts V.1000 release over taxman’s objection

The Vietnam Report Joint Stock Company has suspended the announcement of the top 1,000 corporate income tax payers for this year, also known as V.1000, over the General Department of Taxation’s opposition.
Vietnam Report said on its website that it had shelved a ceremony to announce this year’s V1.000 rankings originally set for November 25, and that the company would give updates later. As of November 24, the firm had not received enough verified information from authorities, it explained.
On that same day, the General Department of Taxation issued a document distancing itself from Vietnam Report in the process of making the V.1000 list.
The department and Vietnam Tax magazine have not provided Vietnam Report with any data on corporate income tax payments to determine the top 1,000 enterprises of tax contribution and neither of them has had no cooperation with the firm. However, the names and logos of the department and the magazine have appeared in the media that promotes the V.1000rankings.
The tax department said in an announcement that Vietnam Report has to take responsibility for the data used to make the list and that the logos of the department and the magazine should be removed from any media promoting V.1000.
The General Department of Taxation reacted after finding out that Vietnam Report said it had cooperated with the department and Vietnam Taxmagazine to rank corporate income tax payers this year on several websites including vietnamreport.net and v1000.vn .
Vietnam Report said it had surveyed more than 6,000 enterprises, collected information about firms listed on the stock exchange, and monitored the media to see how these enterprises comply with tax regulations in the V.1000 rankings.
The draft V.1000 list was made public in the middle of last month and the award ceremony was slated for November 25 in Hanoi.


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