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Tax authorities in Ho Chi Minh City have publicly listed tens of thousands of cases involving tax debt, including many companies and individuals that have owed large sums for years without resolution.
Leading the list is the Vietnam-Vung Tau Paradise Joint Venture, with tax debt of nearly 2,095 trillion dong. Next is Xuyên Việt Oil Transport and Travel Trading Co. Ltd, owing more than 1,978 trillion dong, and Golden Hill Investment Joint Stock Company, with debt nearing 1,660 trillion dong.
Xuyên Việt Oil was previously linked to a fuel case that caused large losses to the state budget. Golden Hill is associated with a stalled real estate project in central Ho Chi Minh City and is located at 8 Nguyen Hue Street, where it repeatedly appears among the city’s biggest tax-debt cases.
Beyond oil and real estate, Dien Quan Group of Color Man is recorded with tax debt of about 78.45 billion dong. The group has appeared on the tax-debt list from 2023 to the present.
Among individuals, a person named Vo Thi Ngoc Phuong owes more than 158.9 billion dong, while Mr. Lam Phuoc Hai owes about 23.2 billion. The two reside in a Saigon ward and are linked to a luxury fashion-smuggling case from about 13 years ago.
According to a representative of the Ho Chi Minh City tax-debt management division, although coercive measures have been applied—such as seizure of funds, account freezing, suspension of invoices, or asset liquidation—recovering long-outstanding debts remains very challenging.
The representative cited several main reasons:
In an interview with Nguoi Lao Dong, Tran Xoa, director of Minh Dang Quang Law Firm and a tax-law expert, said one major bottleneck is that dissolution and bankruptcy procedures remain lengthy, which delays asset disposition and slows tax-debt collection.
He also noted that many debtors have left their residences, making verification and enforcement difficult.
Tran Xoa pointed to Law on Tax Administration No. 108/2025/QH15, effective from July 1, which will allow tax authorities to sue in court for overdue taxes. After a ruling, if assets remain, enforcement agencies will auction them to recover funds for the budget.
The lawyer suggested strengthening penalties and reforming dissolution and bankruptcy procedures to shorten processing times, which would support faster asset liquidation and tax-debt collection.
For real estate firms that have pledged to sell assets to settle tax debts but have faced multi-year delays, the tax authorities should file suit to resolve the cases.
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