Netherland based Uber B.V Co., Ltd. has agreed to pay all of its tax arrears equivalent to the amount of $2.4 million to Ho Chi Minh City Department of Taxation after the ride hailing app left Vietnam.
Two accounting systems results in a lack of transparency and it is also the shortest path leading to the devaluation of firm during future mergers and acquisitions (M&A) or initial public offering (IPO).
Vietnam Electricity (EVN) has been alleged to inaccurately report some of the costs and revenues, leading to the reduction of tax and interest which must be paid to the State budget.
In case Uber fails to pay VND67 million (US$3-million) in tax within 10 days since the date of receiving written notification from HCM city Department of Taxation, it will be enforced to pay the tax and named on media.
The Ministry of Finance (MoF) has rejected the Netherlands-based Uber International Holding BV’s complaints about the decision to collect VND67 billion (nearly US$3 million) in tax arrears in a statement sent to the US-ASEAN Business Council.
