As of Oct. 23, more than 2.5 million taxpayers had ceased operating or were no longer at their registered address but had not completed the procedure to close their tax codes, including about 643,000 suspended cases and nearly 1.88 million cases of no longer operating at the registered address. Since the start of the year, tax authorities have closed 777,835 tax codes, yet new cases are still outpacing processing. Many businesses have overdue tax filings, and fixing them can significantly increase total penalties when closing tax codes. To address this, the Ministry of Finance proposed penalties of 30%, 50% or 70% of the standard level depending on when the missing filings are completed, with a 70% reduction if completed by June 30, 2027. The policy does not waive tax obligations or legal liability and does not apply to tax evasion, tax fraud or use of illegal invoices.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Hơn 2,5 triệu mã số thuế chưa thể đóng: Đề xuất giảm tới 70% tiền phạt
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Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/30/2026 | 1,741.62 |
| Change that session | -0.80% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Proposal to Cut Penalties for Businesses Dormant for Years
The Ministry of Finance is seeking comments on a draft government resolution to reduce penalties for late tax filings by taxpayers that have ceased operations without completing deregistration (status 03) or are no longer at their registered address (status 06). Businesses that submit missing returns would face 30%, 50% or 70% of the current penalty, depending on when they finish, with the lowest rate applying through June 30, 2027. More than 753,000 taxpayers inactive for over 10 years could also have their tax codes terminated, provided they have no tax debt and are not under inspection or prosecution, after a 30-day public notice period. The ministry estimates about 1.6 million returns could be filed, reducing penalties by roughly VND 12,670 billion if completed by June 30, 2027. The policy excludes cases involving signs of tax evasion or tax fraud.
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The government has issued a decree guiding the National Assembly's resolution on cutting personal income tax and corporate income tax, effective from 29 October. Under it, household businesses and enterprises with annual revenue of up to 10 billion VND get a 30% reduction in tax for this year and next; if revenue exceeds 10 billion VND, they must pay back the reduced tax. Taxpayers determine the reduction themselves when paying tax quarterly or per declaration period, and for 2026, reductions not yet declared will be applied at annual finalization. According to the Ministry of Finance, 99.98% of household businesses and about 81.11% of enterprises are eligible. The policy is expected to reduce state budget revenue by about 6,700 billion VND over 2026–2027.
- Businesses and household businesses get a 30% income tax reduction at each filing period
Decree 398, issued on 30/10, lets businesses and household businesses with annual revenue of no more than 10 billion VND cut income tax by 30% when they file or make provisional payments each period, for tax years 2026 and 2027, effective from 29/10. Revenue for eligibility includes all activities in the year, including branches and business locations; if it exceeds 10 billion VND, the reduction must be repaid, and the supplementary tax is not subject to late-payment interest for that period. Businesses already receiving tax incentives can take an additional 30% cut on tax still payable after those incentives. The policy covers income tax only, not VAT. The Ministry of Finance estimates a revenue loss of about 6,700 billion VND over two years, and about 99.86% of individuals and household businesses and 81.1% of enterprises would qualify at the 10 billion VND threshold.
- Finance Minister: Businesses with Clean Tax Debt to Be Dissolved Within 12 Hours
Finance Minister Ngo Van Tuan said he has directed that businesses be dissolved within 12 hours once they have cleared their tax obligations, following comments on the draft Law on Development of Small and Medium-sized Enterprises. He said the EU added Vietnam to its tax blacklist in early 2026, then moved it to the grey list, and will conduct a review in Q1 2028 to decide whether to remove it from the list of non-cooperative jurisdictions. About 2.8 million tax codes are in status 03 or 06, with over 2 million remaining to be cleaned up through special policies. The Ministry of Finance proposes writing off licence-tax arrears and late-payment penalties up to the end of 2025 and cutting late-filing penalties by 30-70%. Deputy Nguyen Hai Long cited nearly 292,000 businesses that have ceased operating but not completed dissolution and proposed an automatic termination mechanism.
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On October 29, the National Assembly debated the Law on Development of Small and Medium Enterprises, with delegate Phan Thị Thùy Linh noting that SMEs make up over 98% of all businesses. A Ministry of Finance review cited in the debate found that only about 9% of nearly 500 surveyed SMEs had accessed and benefited from support policies. Delegate Nguyễn Hữu Toàn asked for quantitative criteria on access to capital and proposed that the three-year tax exemption run from the first year a business earns taxable profit rather than from registration. Delegate Đào Chí Nghĩa identified the main barriers as lack of collateral, weak financial reporting and no viable long-term business plans. Delegate Trịnh Thị Tú Anh noted that tax exemptions do not directly improve cash flow for firms without tax liabilities, calling for clarity on how many firms truly benefit.
- Proposal to cut late tax filing penalties by up to 70% for dormant businesses
The Ministry of Finance proposes cutting late tax filing penalties by 30–70% for businesses that have ceased operating but have not closed their tax code, or that no longer operate at their registered address, under a draft special-policy resolution open for public comment. The reduction is 70% if missing returns are filed by 30/6/2027, 50% from 1/7/2027 to 31/12/2027, and 30% from 1/1/2028 to 30/6/2028; household businesses using the declaration method would pay half the penalty, while those on lump-sum tax are proposed to be exempt. The ministry also proposes waiving returns for periods with no tax obligations, and the policy would not apply to cases already penalised or under investigation for tax or invoice fraud. For an illustrative business not operating at its registered address for 10 years, the estimated total payable to close its tax code is 55 million VND, of which about 23 million VND is late-payment penalties. Over 753,000 taxpayers are in these statuses for more than 10 years, about 25% of all taxpayers in the two statuses; among the roughly 287,000 enterprises and organisations in this group, 172,147 have no outstanding tax debt, about 60%.
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