Recently, Tien Phong Plastic Joint Stock Company (Tien Phong Plastic, Stock Code: NTP, HNX) issued an official announcement regarding the receipt of Decision No. 3486/QĐ-CT dated November 10, 2025, from the Tax Department, imposing administrative penalties for tax violations identified during a tax audit.
According to the decision, Tien Phong Plastic was found to have made incorrect tax declarations resulting in underpayment, as well as using illegal invoices.
Additionally, the company faced aggravated circumstances due to repeated administrative violations, including multiple instances of incorrect declarations that did not lead to underpayment of value-added tax across several tax periods, and the use of multiple illegal invoices.
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For these violations, Tien Phong Plastic was fined nearly 1.5 billion VND in administrative penalties. The company is also required to rectify the situation by paying the outstanding tax amount of approximately 7.1 billion VND to the state budget.
Furthermore, the company must pay late payment fees totaling nearly 1.7 billion VND. These late fees are calculated up to October 28, 2025, and Tien Phong Plastic is responsible for calculating and paying additional late fees from this date until the actual payment of the tax arrears and penalties into the state budget as per regulations.
In total, Tien Phong Plastic is obligated to pay over 10.2 billion VND in tax-related penalties and arrears to the state budget.
Previously, Tien Phong Plastic also announced receiving Decision No. 421/QĐ-XPHC from the Hai Phong Port Area 2 Customs Department, imposing administrative penalties.
Specifically, the company was found to have made incorrect tax declarations leading to underpayment during a customs inspection of cleared goods.
As a result, the company was fined nearly 88.1 million VND but was not required to rectify the situation, as the outstanding tax amount had already been paid according to payment voucher No. 122370 dated October 10, 2025.
Regarding business performance, in the first nine months of 2025, Tien Phong Plastic recorded net revenue of over 4,869 billion VND, a 27.1% increase compared to the same period in 2024. After-tax profit reached over 790 billion VND, up 52.2% year-on-year.
As of September 30, 2025, the company’s total assets increased by 7.9% from the beginning of the year to over 6,920 billion VND. This includes short-term financial investments of 2,679 billion VND, accounting for 38.7% of total assets, and inventory of over 1,327 billion VND, representing 19.2% of total assets.
On the liabilities side, total payables stood at over 2,891 billion VND, a 5.2% increase from the beginning of the year. Short-term loans and finance leases amounted to nearly 1,984 billion VND, making up 68.6% of total liabilities.
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