Real Estate Giant’s CEO Faces Travel Ban Amid Company’s Deadline Compliance

As of September 19, 2025, Phat Dat Real Estate Development Joint Stock Company remains liable for outstanding tax payments, penalties, and late fees totaling nearly 9.3 billion VND.

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On September 30, 2025, the Ho Chi Minh City Tax Department issued a notice regarding the temporary suspension of departure for Mr. Bui Quang Anh Vu, a Board Member and CEO of Phat Dat Real Estate Development Corporation (HOSE: PDR).

Specifically, based on taxpayer data tracked in the Tax Management System as of September 19, 2025, Phat Dat Real Estate Development Corporation owed approximately VND 9.3 billion in taxes, penalties, and late payment fees as of that date.

Accordingly, if Phat Dat Real Estate Development Corporation fails to fulfill its tax obligations within 30 days from the date of this notice, the tax authority will implement a temporary departure suspension measure against the company’s legal representative, Mr. Bui Quang Anh Vu.

Earlier in September, Phat Dat also received decisions regarding the enforcement of administrative decisions on tax management from the Gia Lai Province Tax Office 2, Gia Lai Province Tax Office 1, and Ho Chi Minh City Tax Department on September 16, 17, and 24, respectively.

The company has received decisions from Gia Lai Province Tax Office 1 and Gia Lai Province Tax Office 2 to terminate the enforcement of administrative decisions on tax management. The company has also rectified and paid the full amount to the state budget as per the enforcement decision of the Ho Chi Minh City Tax Department.

On October 3, Phat Dat issued a statement confirming that the company had made the full payment on September 24, prior to the warning issued by the Ho Chi Minh City Tax Department on September 30.

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