According to Announcement No. 13118/TB-HAN-QLDN1, Hanoi Tax Department publicly announced 124 taxpayers who owe taxes and other expenses to the state budget at the Hanoi Tax Department as of August 14, 2025.
Among them is Veracity Joint Stock Company (located on the 5th floor, Tower C, Hanoi Paragon Project, Lot A3, Cau Giay Ward, Hanoi) with a total tax debt of over VND 7.1 billion.
Veracity Joint Stock Company, formerly known as Phuong Minh Dang Mining Joint Stock Company, was established in October 2017, with the main business field of mining stone, sand, gravel, and clay.
Initially, the company had a charter capital of VND 20 billion, with the following shareholder structure: Hanoi House Mining Joint Stock Company (90%), Pham Quang Thao (5%), and Nguyen Viet Ngoc (5%).
In November 2017, the company changed its name to Veracity Limited Company. The shareholder structure was then changed to: Nguyen Hai Luu (60%), Pham Quang Thao (5%), and Nguyen Viet Ngoc (35%).
In March 2018, the company transformed into a joint-stock company. The shareholder structure remained unchanged.
In October 2018, the above three shareholders continued to contribute capital to increase Veracity’s charter capital from VND 20 billion to VND 290 billion. From this point on, the shareholder structure of Veracity was no longer disclosed.
In January 2025, Veracity changed its main business field from mining stone, sand, gravel, and clay to real estate business.
As of April 2025, Mr. Tran Quoc Tuan (DOB: 1989) replaced Ms. Trinh Thi Ha (DOB: 1979) as the Director and legal representative of the company.
It is known that Mr. Tran Quoc Tuan is also a representative in several other companies, including Dia Viet Investment Joint Stock Company and Xeca Vietnam Joint Stock Company.
In addition, Mr. Tuan also owns 3 million shares in HBRE Power Joint Stock Company. In March 2025, Mr. Tuan used all of these shares as collateral for a bank loan.
In August 2019, Veracity surprised the market by announcing its acquisition of the entire Summit Building project – a high-rise residential and commercial project located at 216 Tran Duy Hung, Hanoi.
Summit Building at 216 Tran Duy Hung, Hanoi, with Veracity as the investor
Previously, in 2017, a consortium of Hoa Phuong Thang Long Hanoi Limited Company and 216 Real Estate Trading and Investment Limited Company was approved as the investor for this project.
Summit Building is a mixed-use project with a 35-story tower, 1 tum, 4 basements, and 1 mezzanine basement. The project scale includes a construction area of approximately 1,185 m2, and a total floor area of approximately 52,217.5 m2 (including a total basement floor area of approximately 10,690 m2, a total construction floor area of approximately 41,527.5 m2, excluding a tum area of approximately 352 m2).
The total expected investment capital is nearly VND 800 billion (including investor capital of VND 158 billion and bank loans and other legal capital mobilization of VND 634 billion).
By January 2022, Veracity had mortgaged the exploitation and management rights of the Summit Building project, along with all machinery and equipment formed in the process of project implementation, and profits obtained from the business and exploitation of the land use rights and assets attached to the land of the project…
In addition to Summit Building, Veracity also introduced itself as the developer of Harmony Square (located at 63 Nguỵ Như Kon Tum, Hanoi). This is a complex of apartment buildings, commercial centers, and office services developed by a consortium of DLC Real Estate Investment Joint Stock Company and An Viet Investment and Consulting Joint Stock Company. The project was originally named DLC Complex, with a total investment of VND 1,314 billion.
The project consists of two blocks, one of which is 32 stories high, providing 336 apartments, and the second block is 28 stories high, providing 280 officetel apartments (with a 50-year ownership term).
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