“Billions in Tax Debt: KDC Lang Sen’s Investor Under Scrutiny as Director’s Travel Plans Halted”

The Long An Tax Department has recently notified the Department of Exit and Entry Management, Ministry of Public Security, about the temporary suspension of exit for Mrs. Luu Thi Phuong Chinh, Director of Phuc Khang Sen Viet L.A Investment Co., Ltd. (Phuc Khang Sen Viet L.A Company – headquartered at No. 3, Street 12, Lang Sen Vietnam Residential Area, Duc Hoa Dong Commune, Duc Hoa District).

The reason for Ms. Phuong Chinh’s exit delay is that Phuc Khang Sen Viet L.A Company still owes the state budget tax arrears of VND 97.4 billion (as of the notification on April 8, 2024).

Lang Sen Vietnam Residential Area in Duc Hoa, Long An Province. Photo: TL

Phuc Khang Sen Viet L.A Company is a member of Phuc Khang Corporation and is the investor of the Lang Sen Vietnam Residential Area project.

This residential area is located in Duc Hoa Dong Commune, Duc Hoa District, Long An Province, with a scale of 65 hectares. The project offers approximately 2,500 products in the form of land plots, terraced houses, and commercial houses, which have been on sale since 2015.

During the period of 2019-2020, some customers at the project reflected that they had not been granted certificates of land use rights, ownership of houses and other assets attached to the land (certificates) even though they had completed their payment obligations to Phuc Khang Sen Viet L.A Company years ago. The reason for the delay in granting certificates is that the investor has not completed the project’s technical infrastructure.

For example, in March 2019, the Long An Land Registration Office returned 100 application dossiers for certificates from customers at the project because the investor had not built a wastewater treatment system.

In addition, some customers also reflected that the company had signed a contract to collect money from customers for the same land plot while also mortgaging it at a bank.

For instance, in the case of Mr. T.D. (from Ho Chi Minh City), from 2015 to 2017, Mr. D. paid VND 333.5 million to Phuc Khang Sen Viet L.A Company to receive a transfer of a 75m2 land plot. By 2019, Mr. D. had still not been granted a certificate by the investor. Upon investigation, Mr. D. found out that the land plot had already been granted a certificate to Phuc Khang Sen Viet L.A Company, and this company had mortgaged it at the Asia Commercial Joint Stock Bank – Tran Khai Nguyen Branch in July 2015.

In addition to complaints about delays in granting certificates and completing technical infrastructure, customers who bought land here also reflected on air pollution due to the influence of neighboring industrial plants.

Anh Phuong