Vietnam to Introduce Travel Restrictions in Cases of Tax Debts

The Vietnam Ministry of Finance (MoF) has issued a press release on a draft decision for foreign travel restrictions on legal representatives of enterprises including chairpersons, presidents, general directors and directors, if there is an outstanding tax balance of VND 1 billion or more for over 90 days. A travel restriction would also apply for individuals with an outstanding tax balance VND 50 million or more for over 90 days.

According to the draft, persons subject to the restriction w…