CEO banned from leaving Vietnam for $39 debt

By Phuong Dung   May 20, 2024 | 05:52 am PT
CEO banned from leaving Vietnam for $39 debt
An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
A CEO in Ho Chi Minh City has been banned from leaving the country because his chemical company owes VND997,000 ($39) in taxes.

The ban was imposed on May 18, according to municipal authorities in the southern metropolis.

In February, another HCMC CEO was also barred from traveling abroad because of his company’s VND1.1 million worth of debts owed in taxes and fines.

Some individuals with travel bans have complained that the business tax debts they were being punished for were relatively small. They also said they only found out about the imposed travel restrictions when they arrived at the airport and tried to board a flight.

Vietnam imposes travel bans on leaders of companies that have not fulfilled their tax duties, but the law does not indicate a minimum debt for such penalties to be imposed.

In 2015, the Ministry of Finance proposed a minimum level of VND1 billion for businesses, and VND50 million for individuals, but the proposal never became law.

The ministry said that in the past some leaders of business with large tax debts fled the country long before customs authorities were able to implement travel bans on them.

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