Vietnam’s tax authorities investigate companies and individuals named in the Panama Papers

By Thanh Thanh Lan   May 11, 2016 | 08:12 am GMT+7
Vietnam’s tax authorities investigate companies and individuals named in the Panama Papers
Nguyen Thi Phuong Thao, CEO of Vietjet Air, is among Vietnam-based people named in Panama Papers

The General Department of Taxation under Vietnam’s Ministry of Finance on May 10 urgently formed a working group to look into tax obligations of the 189 companies and individuals in Vietnam listed in the Panama Papers, a source from the general department told VnExpress Tuesday.

In a meeting with the relevant departments held May 10, leaders of the general department decided to carry out an investigation to find out whether the Panama Papers-linked companies and individuals commit tax evasion. The tax authorities will look into their tax payment data and compare with Vietnam’s regulations to see if the companies and individuals are involved in tax evasion.

The working group consists of representatives from the Departments of Inspection, Personnel, Propaganda and the Tax Administration Modernization Project Management Unit.

189 companies and individuals in Vietnam are linked to the Panama Papers, according to the leaked files released by the International Consortium of Investigative Journalists (ICIJ), along with Sudetendeutsche Zeitung, Tuesday.

Some entrepreneurs in Vietnam named in Panama Papers, who work in financial, real estate, securities and consultancy sectors, have confirmed their names but claim their outward investments are legal.