FLC received 19 decisions from the Hanoi Tax Department on February 23 regarding the enforcement of administrative tax decisions by deducting money from the account, with a total amount of over 91 billion VND. The reason for enforcement is that the company has overdue amounts to be enforced according to regulations.
In late 2023, the Hanoi Tax Department issued enforcement decisions for nearly 90 billion VND from FLC’s accounts. In addition, FLC was subject to enforcement measures for overdue tax amounts of over 678 billion VND at the Hanoi Tax Department, Quang Binh province, Tax Department of Ha Long City, Sam Son – Quang Xuong, and land rent at the Management Board of Quy Nhon Economic Zone.
Prior to that, in early October 2023, the Hanoi Tax Department issued 19 decisions on the enforcement of administrative tax decisions by deducting money from FLC’s accounts. The total amount of enforcement was nearly 82 billion VND.
At the end of 2022, FLC also received 16 tax enforcement decisions from the Hanoi Tax Department with a total amount of over 76 billion VND, for the same reason that the Group had overdue amounts to be enforced according to regulations.
In terms of business operations, on February 20, 2024, FLC successfully held the second extraordinary general meeting of shareholders in 2024, after the first unsuccessful attempt on January 02, due to insufficient attendance rate.
During the meeting, FLC shareholders approved various contents such as the dismissal and election of members of the Board of Directors, members of the Supervisory Board, the report on restructuring results and the business plan for 2024, and the change of the company’s registered office address.
*Result of FLC restructuring: 60% reduction in workforce, repayment of 4.4 trillion VND in debt
Regarding the late submission of Q4 financial statements in 2023, what did FLC say?
FLC has recently submitted an explanation letter to the State Securities Commission (SSC) and the Hanoi Stock Exchange (HNX) regarding the late submission of Q4 2023 financial statements. The company stated that the audited financial statements for 2021 have not been released due to the Group and UHY Audit and Consulting Co., Ltd. not reaching an agreement on audit opinions for the separate financial statements and the consolidated financial statements for the fiscal year ending December 31, 2021.
Therefore, FLC has not been able to issue the audited financial statements for 2021, 2022, and the four quarters of 2023. The company is making efforts to coordinate with the auditing firm to carry out additional procedures as a basis for providing appropriate audit opinions and disclosing information according to regulations.
After the financial statements for 2021, 2022, and Q1, Q2, and Q3 of 2023 are issued, FLC will proceed with the audit of the Q4 2023 financial statements and disclose information according to regulations.
Although the Q4 2023 financial statements have not been disclosed, according to information from the company, FLC’s total existing assets value has reached over 21,000 billion VND.
Defendant Trinh Van Quyet
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In related developments, Trinh Van Quyet – former Chairman of FLC Group and 50 others have been proposed to be prosecuted in a securities manipulation case that occurred at FLC Group and related companies and units.
Specifically, the competent authorities have proposed the prosecution of 4 defendants under the Ho Chi Minh City Stock Exchange (HOSE) and 3 defendants under the UBCKNN’s Public Company Supervision Department, Vietnam Securities Depository.
This is a development after 2 months of additional investigation by the Ministry of Public Security’s Criminal Police Department (C01) on the stock market manipulation and fraud case involving Trinh Van Quyet and his accomplices.
*Proposal to prosecute 51 defendants in the stock market manipulation case related to FLC Group
Thanh Manh
