Ho Chi Minh City Businesses Owe Taxes: Most Are in Real Estate
The Ho Chi Minh City Tax Department has just released a list of 105 businesses owing taxes as of June 2025. Notably, the total amount of tax debt owed by these businesses has exceeded VND 4,700 billion. Most of these are real estate companies.
Topping the list is Thuân Việt Trading and Construction Co., Ltd., with a staggering debt of over VND 3,239 billion, accounting for nearly 70% of the total debt of all listed companies.
Following closely are well-known names in the real estate industry, such as Phú Mỹ Investment and Development Joint Stock Company (owing more than VND 169.9 billion), MSB Real Estate Limited Company (over VND 108 billion), 584 Traffic Works Investment and Construction Joint Stock Company (over VND 97.9 billion), Dia Oc Truong Thinh Phat Real Estate Joint Stock Company (over VND 96.39 billion), and Saigon Tower Joint Stock Company (over VND 86.1 billion), among others.
The list also includes notable companies like Dia Oc Thanh Nien Tower and Phat Trien Nha Thu Duc, with tax debts of VND 4.4 billion and VND 4.3 billion, respectively.
List of 105 businesses owing over VND 4,700 billion in taxes, as published by the Ho Chi Minh City Tax Department
Measures to Be Taken Against Tax-Delinquent Ho Chi Minh City Businesses
Beyond large corporations, local tax offices in Ho Chi Minh City have also disclosed lists of individuals and organizations with tax arrears. Tax Office No. 1, for instance, identified 679 taxpayers with a combined debt of over VND 2,125 billion. Tax Office No. 7, responsible for the wards of Tân Mỹ, Tân Hưng, Tân Thuận, and Phú Thuận, reported 594 taxpayers owing more than VND 353 billion. Meanwhile, the areas of Nhà Bè and Hiệp Phước recorded 161 taxpayers with a total debt of over VND 51 billion.
Despite the Ho Chi Minh City Tax Department’s collection of over VND 48,400 billion in the first half of 2025, including nearly VND 9,000 billion from previous years’ debts and over VND 39,000 billion from this year’s liabilities, the outstanding debt remains concerning. Moreover, many large tax-delinquent businesses are in a state of prolonged delinquency, hindering debt recovery efforts and burdening the public finance system.
In response to this situation, the Ho Chi Minh City Tax Department vows to implement stringent measures in the remaining months of the year. The list of taxpayers will undergo thorough scrutiny, and appropriate collection methods, including reminders and enforcement, will be applied on a case-by-case basis.
Additionally, the tax department will enhance transparency by collaborating with the police, banks, market management agencies, and immigration authorities to comprehensively address deliberate non-compliance. Temporary suspension of overseas travel for violators will also be enforced as per regulations.
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