The Ho Chi Minh City Customs Department, a leading customs management agency, has decided to enforce the administrative decision on tax management through the suspension of customs procedures for import and export goods of Golden Hill Investment Corporation.
Specifically, the Customs Department will enforce the suspension of customs procedures for import and export goods of Golden Hill Investment Corporation.
The reason for this enforcement is that Golden Hill has more than 90 days of tax arrears from the deadline for tax payment and extension according to regulations. The amount being enforced is over 1,289 billion VND. The Ho Chi Minh City Customs Department requires Golden Hill Investment Corporation to strictly comply with the decision.
This decision is valid for 1 year, until January 30, 2025, and will be terminated once the debt is fully paid to the State budget.
It is known that Golden Hill was established on January 17, 2017, with its headquarters at 8 Nguyen Hue Street, Ben Nghe Ward, District 1, Ho Chi Minh City. The company is also 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.
According to information from HNX, in 2022, Golden Hill incurred a loss of 276 billion VND, while in the previous year, it only incurred a loss of nearly 6 billion VND. As of December 31, 2022, Golden Hill’s owner’s equity reached 2,421 billion VND, debt-to-equity ratio of 5.1 times, equivalent to the company’s debt at 12,347 billion VND. Of which, the bond debt is over 5,810 billion VND.
Not only Golden Hill, but also many large real estate and construction companies in Ho Chi Minh City have recently been subject to enforcement measures. Among them, Trung Nam Construction Investment Corporation (Trung Nam Group) owes 27.5 billion VND in taxes; Truong Thinh Phat Real Estate Construction Investment Corporation owes 83.7 billion VND in taxes; Khai Thinh Real Estate Joint Stock Company owes 41.5 billion VND in taxes…
