Accordingly, the Customs Branch of the First Investment Management – Ho Chi Minh City Customs Department has decided to compel by suspending customs procedures for import and export goods of Tân Hoàng Minh Trading and Services Hotel Limited Liability Company (belonging to Tân Hoàng Minh Group), address at 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City.
The reason is that this company has a domestic tax debt of over 90 days from the expiration date of payment as prescribed, with a total amount of nearly 160 billion VND.
According to the Customs Branch of the First Investment Management, the decision on compulsion will be effective for a period of 1 year from January 31, 2024, and only terminates when the tax debt is fully paid into the state budget. Previously, in September 2022, Tân Hoàng Minh Trading and Services Hotel Limited Liability Company was also subjected to compulsory measures due to a tax debt of over 90 days, with a total amount of over 174 billion VND.
Tracodi has just been subjected to compulsory measures due to prolonged tax debt.
In addition, the Customs Branch of the First Investment Management has also decided to compel by suspending customs procedures for import and export goods of Tracodi Industrial and Transportation Development Investment Corporation, address in Ben Thanh Ward, District 1, Ho Chi Minh City. This company has been identified as having a tax debt of over 90 days with an amount of over 30.4 billion VND.
It is known that Tracodi (stock code TCD) is currently a large enterprise in the field of construction of transportation, irrigation, civil works; import and export, and trade… This company is participating in the supply of materials for some expressway projects in the Mekong Delta region, as well as the construction of other projects such as: Chau Doc – Can Tho – Soc Trang Expressway; Duc Thinh Residential Area, Hiep Hoa District, Bac Giang Province, Infrastructure and School Projects in Dong Nai Province…
It is worth noting that the Customs Branch of the First Investment Management has also applied the measure of compelling by suspending customs procedures for import and export goods of Golden Hill Investment Joint Stock Company. The reason is that this enterprise has a tax debt of 1,290 billion VND.
Golden Hill is a familiar name in the real estate market in Ho Chi Minh City. This company 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 a 8-storey Alpha Mall commercial center and two 40-storey Alpha Hill towers, with 1,074 apartments.
In terms of capital market, this company has successfully issued a bond lot worth 5,760 billion VND on April 15, 2021. This bond lot has a term of 3 years, due on April 15, 2024, with the purpose of restructuring the company’s capital. Recently, Golden Hill announced its financial situation in 2022 with a quite disappointing result of a loss of 275 billion VND, while only losing 5.7 billion VND in 2021.
Together with that, a series of major real estate – construction companies in Ho Chi Minh City have just been compelled. Among them are Trung Nam Construction Investment Joint Stock Company (Trung Nam Group) with a tax debt of 27.5 billion VND; Truong Thinh Phat Real Estate Construction Investment Joint Stock Company with a tax debt of 83.7 billion VND; AA Architecture Construction Investment Joint Stock Company and Nhat Hoang Investment Limited Liability Company with tax debts of over 55 billion VND; Khai Thinh Real Estate Joint Stock Company with a tax debt of 41.5 billion VND…
