Le Tuan Binh – Head of Customs Branch, Customs Branch Manager, Ho Chi Minh City Customs Department – has just issued a decision to enforce administrative decisions on tax management by suspending customs procedures for import and export goods of Golden Hill Investment Corporation.
The customs branch will enforce the suspension of customs procedures for import and export goods of Golden Hill Investment Corporation.
Golden Hill Investment Corporation is known as the investor of the 87 Cong Quynh project (District 1, Ho Chi Minh City). Photo: ANTT.
The decision to enforce the suspension is due to Golden Hill Investment Corporation having tax debts exceeding 90 days from the deadline for tax payment and extension as prescribed. The amount to be enforced is more than 1,289 billion VND. The Customs Branch for investment management requests Golden Hill Investment Corporation to strictly implement the decision.
This decision is valid for a period of 1 year, until January 30, 2025, the decision will cease to be valid from the date the debt is fully paid into the State budget.
Similarly, the Customs Branch for investment management also has a decision to suspend customs procedures for import and export goods for Danh Khoi Group Corporation.
The reason for the suspension is that Danh Khoi Group Corporation has tax debts exceeding 90 days from the deadline for tax payment and extension as prescribed. The amount to be enforced is over 97 billion VND.
The Customs Branch for investment management has issued a decision to enforce the administrative decision on tax management by suspending customs procedures for export and import goods of Trung Nam Construction Investment Corporation (Trung Nam Group).
Trung Nam Group is enforced due to tax debts exceeding 90 days from the deadline for payment as prescribed. The amount to be enforced is 27.5 billion VND.
In addition, a series of other businesses have been enforced with suspension of customs procedures for import and export goods such as Truong Thinh Phat Real Estate Investment Corporation with tax debts of nearly 84 billion VND, Khai Thinh Real Estate Corporation with tax debts of nearly 42 billion VND, Danh Khoi Holdings Investment Corporation with tax debts of nearly 58 billion VND.
Danh Khoi Group Corporation has tax debts of over 97 billion VND. Photo: ANTT.
Currently, most businesses subject to tax enforcement are facing difficulties in their business operations. For example, Golden Hill Investment Corporation was established on January 17, 2017 (headquartered at 8 Nguyen Hue, Ben Nghe Ward, District 1, Ho Chi Minh City).
Golden Hill Investment Corporation is known as the investor of the 87 Cong Quynh project (District 1, Ho Chi Minh City) with a total area of 8,320 square meters, including an 8-storey Alpha Mall shopping center and 2 Alpha Hill towers with 40 floors, with 1,074 apartments.
However, in 2022, Golden Hill Investment Corporation incurred a loss of 276 billion VND. As of December 31, 2022, the total equity of Golden Hill Investment Corporation reached 2,421 billion VND, with a debt-to-equity ratio of 5.1 times. Bonds payable amount to over 5,810 billion VND.
Similarly, Danh Khoi Group Corporation (stock code: NRC) is also facing ineffective business operations. In the fourth quarter of 2023, Danh Khoi Group only achieved net revenue of 1.65 billion VND. After deducting the cost of goods sold, gross profit of NRC in the fourth quarter of 2023 was nearly 1.63 billion VND.
Accumulated in 2023, Danh Khoi’s net revenue was over 4.6 billion VND, a decrease of 97% compared to the same period. However, thanks to the recognition of 83 billion VND in contract compensation income and reduction of other expenses, Danh Khoi had other income of up to 79 billion VND. From there, the company reported a pre-tax profit of nearly 40 billion VND.
