Investment Joint-Stock Company Nam Long (Stock symbol: NLG, HoSE) has just announced its receipt of Decision No. 1938/QD-CCTKV02 from the Area II Tax Authority, imposing administrative sanctions for tax violations.
According to the decision, Nam Long engaged in incorrect VAT and corporate income tax declarations, resulting in an underpayment of taxes due. Additionally, the company made errors in their VAT and corporate income tax declarations that did not lead to a shortfall in payable taxes.
As a consequence of these violations, Nam Long has been fined over VND 371.2 million. The company is also required to remedy the situation by paying approximately VND 1.8 billion in back taxes and over VND 33 million in late payment fees.
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The late payment fee mentioned above is calculated up to May 23, 2025. Nam Long is responsible for calculating and paying any additional late payment fees incurred after this date until the back taxes and fines are actually paid into the state budget, as per regulations.
In total, Nam Long is required to pay nearly VND 2.2 billion in fines, back taxes, and late payment fees.
Furthermore, the company must also reduce its VAT credit amount by nearly VND 4.4 million. The tax authority has requested Nam Long to declare and adjust this VAT credit reduction in their VAT declaration for the tax period in which this decision is received.
Additionally, Nam Long is required to adjust its losses from 2023 to 2024 (for production and business activities) by an amount exceeding VND 1 billion.
In other news, Nam Long recently announced a resolution by its Board of Directors to approve the payment of 2024 dividends to shareholders in cash.
According to the resolution, Nam Long plans to allocate VND 192 billion for the 2024 dividend payment, with a payout ratio of 4.99%. This translates to VND 499 per share.
The record date for determining shareholders’ eligibility for the dividend is June 6, 2025, and the expected payment date is June 30, 2025.
The Board of Directors has also authorized Mr. Nguyen Xuan Quang, Chairman of the Board, to handle the necessary procedures for finalizing the list of shareholders and distributing dividends in accordance with current legal regulations.
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