Inspection work of the finance sector has improved

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VCN – The Department of Finance Inspectorate has further focused on conducting reform and modernization of customs and tax inspection throughout the sector.

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The Financial Inspectorate Department has strengthened IT applications in risk management. Photo: Thuy Linh

According to the latest report, by the end of October, the Department of Finance Inspectorate under the Ministry of Finance and other units in charge of inspection under the ministry conducted 51,167 inspections and examined 677,749 tax returns at the tax offices, handled 9,750 cases and fined more than VND43,630 billion.

The Department of Finance Inspectorate issued 18 inspection results and proposed administrative sanctions of VND5,742 billion. Inspected units paid to the State budget over VND522 billion.

The inspection work has helped rectify the budget management at units. The Department of Finance Inspectorate has proposed ministries, governmental agencies and local agencies in supplementing procedures and amending legal documents on management, direction and policies in accordance with the law and reality.

To ensure compliance with budget obligations of enterprises, the finance inspectorate has enhanced communication on laws to the business community and worked with units in and out of the sector to grasp the situation of enterprises.

In addition, the finance inspectorate has strengthened IT applications in tax declaration and payment and risk management of tax to identify enterprises at high risk to list them in the annual or unexpected inspection plan; and seriously handled violations of tax, finance and budget obligations.

Particularly, the finance inspectorate has focused on building a contingent of clean, strong and professional inspectors to ensure that the inspection force leads in preventing, detecting and handling violations in the Finance sector.

The Financial Inspector said, from now until the end of the year, units will continue to effectively implement the approved inspection plans for 2021; and ensure the backup force for unexpected inspections. The inspections must be in compliance with the provisions of the Law on Inspection.

The unit will also actively grasp the situation, regularly report and propose solutions to promptly solve problems arising during the inspection process; announce conclusions of finished inspections in accordance with regulations; review and adjust the inspection plan in a timely manner, in line with the actual situation of the unit and the development of the pandemic; research, develop and issue inspection plans for 2022 to meet the management and direction requirements of the Government and the Ministry of Finance.

The unit will strengthen monitoring and urging the implementation of recommendations and decisions after inspections, clarify the reasons for slow implementation or incomplete implementation, and make recommendations and propose remedial measures.

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In particular, the Financial Inspectorate will focus on implementing the reform and modernization program of tax and customs inspection throughout the sector; strengthening information technology applications in risk management and software to analyze and classify taxpayers, and make customs declarations according to the risk level in order to detect new illegal methods, thereby boosting the inspection and examination to combat fraudulent acts and perfecting the information management software system for the inspection work of the Finance sector.

By Thuy Linh/ Huyen Trang

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