National Reinsurance fined for tax violations, faces back taxes

Vietnam National Reinsurance Corporation (VNR) was sanctioned for administrative tax violations, including improperly accounting for expenses related to inactive units and inadequate documentation for other costs, according to a decision issued by the Hanoi Tax Department on November 4, 2025. The company will incur a penalty of VND 28,555,846 for underreporting taxes due to incorrect declarations.

In addition to the fine, VNR is required to pay VND 142,779,232 in outstanding corporate income tax from 2022 to 2024 and VND 22,834,474 in late payment interest calculated up to October 20, 2025. The total amount due, encompassing back taxes, penalties, and late payment interest, sums up to VND 194,169,552.

VNR has 10 days from receipt of the decision to comply with the ruling by remitting the funds to the State Treasury. Failure to comply within the specified period will result in enforcement actions. The company reserves the right to appeal or initiate administrative lawsuits against this decision.