Accordingly, the Customs Branch for Investment Management – Ho Chi Minh City Customs Department has decided to compel the customs procedures for the import and export goods of Tan Hoang Minh Trading Service Hotel Company Limited (a subsidiary of Tan Hoang Minh Group), located at 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City.
The reason is that this business has overdue domestic taxes for more than 90 days from the deadline for payment as regulated, with a total amount of nearly VND 160 billion.
According to the Customs Branch for Investment Management, the compulsory enforcement decision shall be valid for 1 year from January 31, 2024, and shall only cease to be in effect when the tax arrears are fully paid into the state budget. Previously, in September 2022, Tan Hoang Minh Trading Service Hotel Company Limited was also subjected to compulsory enforcement measures due to overdue taxes for more than 90 days, with a total amount of over VND 174 billion.
Tracodi has recently been subjected to compulsory enforcement measures due to prolonged tax arrears. |
In addition, the Customs Branch for Investment Management has also decided to compel the customs procedures for the import and export goods of Industrial and Transport Development Investment Corporation (Tracodi), located in Ben Thanh Ward, District 1, Ho Chi Minh City. This business has been determined to owe taxes for more than 90 days with an amount exceeding VND 30.4 billion.
Tracodi (stock code TCD) is currently a large enterprise in the field of construction of transportation, irrigation, civil works; import-export, trade… This business is participating in the supply of materials for a number of expressway projects in the Mekong Delta region, as well as conducting several projects such as: Chau Doc – Can Tho – Soc Trang Expressway; Duc Thinh Residential Area, Hiep Hoa District, Bac Giang Province; Transportation infrastructure, schools in Dong Nai Province…
Significantly, the Customs Branch for Investment Management has also applied compulsory enforcement measures to suspend customs procedures for import and export goods of Golden Hill Investment Joint Stock Company. The reason is that this business owes taxes of VND 1,290 billion.
Golden Hill is a well-known name in the real estate market in Ho Chi Minh City. This business is known as the investor of the 87 Cong Quynh project, District 1, Ho Chi Minh City, with a total area of 8,320m2, including an 8-floor Alpha Mall commercial center and two 40-floor Alpha Hill towers with 1,074 apartments.
In the capital market, this business has successfully issued a bond lot worth VND 5,760 billion on April 15, 2021. This bond lot has a term of 3 years and matures on April 15, 2024, with the purpose of restructuring the company’s capital source. Recently, Golden Hill announced its financial situation in 2022 with a rather bad result of a loss of VND 275 billion, while it only incurred a loss of VND 5.7 billion in 2021.
Along with that, a series of large real estate – construction businesses in Ho Chi Minh City have also been subjected to compulsory enforcement measures. Among them are Trung Nam Construction Investment Joint Stock Company (Trung Nam Group) owing taxes of VND 27.5 billion, Truong Thinh Phat Real Estate Construction Investment Joint Stock Company owing taxes of VND 83.7 billion, AA Architecture Construction Joint Stock Company and Nhat Hoang Investment Limited Liability Company both owing taxes of over VND 55 billion, Khai Thinh Real Estate Investment Joint Stock Company owing taxes of VND 41.5 billion…
Duong Hung
