A slew of businesses in Ho Chi Minh City, ranging from real estate to petroleum and telecommunications, have just been subjected to a tax enforcement measure by the Region II Tax Department, which has resulted in their inability to use invoices starting April 2025 due to prolonged tax arrears exceeding 90 days.
Topping the list is Duc Khai Joint Stock Company with a staggering tax debt of VND 560 billion, followed by Bach Khoa Viet Joint Stock Company in Commercial Trading, Consulting, and Investment Construction, which owes VND 221 billion.
One of the businesses subjected to invoice enforcement has tax arrears amounting to VND 506 billion
In addition to Duc Khai and Bach Khoa Viet, the other businesses facing invoice enforcement include Ho Chi Minh City Electrical Machinery Joint Stock Company (telecommunications and electronic components) with VND 7.1 billion in tax debt, Saigon Railway Printing Joint Stock Company (printing) owing VND 4.4 billion, GTG Wellness Healthcare Co., Ltd. (healthcare) with VND 641 million in arrears, and Saigon Industrial Mechanics and Construction Joint Stock Company (construction) indebted at VND 508 million.
The one-year validity of the invoice enforcement decision could potentially disrupt these businesses’ operations as they may be unable to issue invoices during this period.
Duc Khai Joint Stock Company, located at Floor 1, Block A3, D3 Street, Phu My Resettlement Area, Phu My Ward, District 7, Ho Chi Minh City, is a long-standing enterprise in the real estate industry. The company also engages in trade and logistics activities.
Bach Khoa Viet Joint Stock Company, a major player in the petroleum industry in the South, had previously faced a suspension of import-export procedures due to overdue tax debts.
Smaller businesses such as Ho Chi Minh City Electrical Machinery Joint Stock Company, specializing in telecommunications equipment, and Saigon Railway Printing Joint Stock Company, operating in the printing field, are also facing financial pressures.
According to regulations, if these businesses fail to settle their tax debts, more stringent measures may be imposed, including asset seizure, auction, revocation of business licenses, or even travel bans for their leaders. Decree 49/2025/ND-CP stipulates that individuals with tax debts exceeding VND 50 million and overdue for more than 120 days may be subject to temporary suspension of exit.
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