Subsidiary of Vietnam Coal-Mining Corporation penalized and tax amounts totaling nearly 2 billion Vietnamese dong

The Provincial Tax Department of Quang Ninh has issued a decision to impose a total fine of nearly 2 billion VND on Nui Beo Coal Company, a subsidiary of Vinacomin, for multiple administrative tax violations.


Than Núi Béo – Vinacomin fined and taxed nearly 2 billion VND. Illustrative photo.

Núi Béo Coal Joint Stock Corporation – Vinacomin (NBC: NBC) has recently announced that it has received a decision on administrative tax violation penalties from the Quang Ninh Provincial Tax Department.

Accordingly, NBC has committed acts such as using illegal invoices and making false declarations leading to a shortage of tax payments including corporate income tax and value-added tax.

As a result, the company was fined nearly 303 million VND and required to pay the missing tax amount of more than 1.5 billion VND and late payment fees of nearly 157 million VND to the State Budget. At the same time, NBC has to cancel the illegal invoices it owns.

Therefore, the total amount of administrative tax violation fines and post-consequences remedy payment of NBC amounts to nearly 2 billion VND. The decision takes effect from December 29, 2023.

In terms of business performance, in 2023, Núi Béo Coal – Vinacomin recorded net revenue of more than 3,221 billion VND and after-tax profit of 103.3 billion VND, increasing 11% and 119% compared to the performance in 2022, respectively.

At the sum-up conference on production and business activities in 2023 and the labor conference in 2024 held on January 15, Núi Béo Coal – Vinacomin stated that in 2024, the company is determined to dig more than 16,000 meters of mines; exploit 1.8 million tons of raw coal; achieve over 2,700 billion VND in revenue; 81 billion VND in profit with an average income of over 18.2 million VND/person/month.

In another development, on January 25, 2024, NBC announced the deadline for registration for attending the 2024 Annual General Meeting of Shareholders.

The deadline is March 28, 2024. It is expected that the 2024 AGM will take place on April 25, 2024, in the 4th-floor conference room of the company’s office.

At the meeting, the Board of Directors will report on the business performance in 2023 and the business plan for 2024, gather opinions on the report on remuneration, allowances, and salaries for the Board of Directors, Management Board, and Trade Union in 2023, and propose remuneration, allowances, and salaries for the Board of Directors, Management Board, and Trade Union in 2024; gather opinions on the profit distribution plan in 2023,…

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