Coca-Cola ordered late tax and additional tax due to tax evasion from Vietnam tax office
Coca-Cola VietnamFrom 2007 to 2015I have been illegally evaded for nine years and have been ordered to evade taxes and to pay overdue and additional taxes of $35.4 million.
The Deputy Director General of Tax Administration of Vietnam reports that 57.3% of the amount is additional tax and 35.2% is overdue tax. Other fines added, totalThat's a total of 35.4 million USD.
Under the above circumstances, the Vietnam Taxation Department informs Coca-Cola that the examination can be redone and that legal litigation is possible.
Coca-Cola partially agrees with the views of the Vietnam Tax Office
A Coca-Cola spokesman said he partly agreed with the Vietnam Tax Department's views, but said there were some disagreements with the Tax Department's conclusions. However, Coca-Cola has a policy of promoting business operations in compliance with laws and regulations.
Coca-Cola says it's only $1.6 million, although it has already paid a fine, according to an official from the Ho Chi Minh Tax Department in Vietnam. According to the division, Coca-Cola entered Vietnam in 1994 and continues to grow at double digits. As of 2011, the company reported a cumulative loss of $162.5 million and was exempt from corporate income tax. Among them, the Ho Chi Minh Tax Department cites Coca-Cola as a company that has doubts about transfer pricing.
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