Hai Ha Petro Company - one of the main petroleum trading centers - had its license revoked by the Ministry of Industry and Trade due to abusing the Price Stabilization Fund and owing taxes.
The Ministry of Industry and Trade issued a decision on January 12th to revoke the petroleum business license of Hai Ha Water and Land Transport Company Limited (Hai Ha Petro). This is one of 36 petroleum distribution companies (excluding aviation fuel distributors) headquartered in Diem Dien town, Thai Thuy district, Thai Binh province.
Previously, according to the conclusions of the Government Inspectorate , Hai Ha Petro was one of the three key enterprises that misused the price stabilization fund, failing to transfer funds to the fund's account and instead leaving them in the company's payment account. This unit also underreported and owed thousands of billions of dong in environmental protection tax. By the end of November 2023, the balance of the fuel price stabilization fund at this key enterprise was 612 billion dong.
Hai Ha Petro has a network of dealers and gas stations in many northern provinces and cities such as Hanoi, Hai Phong, Quang Ninh, and Thai Binh. To avoid disruption to the supply and market after Hai Ha Petro's license was revoked, a representative from the Domestic Market Department (Ministry of Industry and Trade) stated that the agency has also requested the Vietnam National Petroleum Group (Petrolimex), the Vietnam Oil Corporation (PVOil), and the Military Petroleum Corporation (Mipec) to develop plans to ensure supply.
"These businesses will prepare supplies and increase delivery to stores within the distribution system in localities where Hai Ha Petro has gas stations, such as Thai Binh, Hai Phong, Hanoi, and Quang Ninh. This is to avoid fuel shortages in the coming period, especially during the Lunar New Year 2024," a representative from the Domestic Market Department said.
Besides Hai Ha Petro, two days ago the Ministry of Industry and Trade also considered revoking the license of Thien Minh Duc Company (Nghe An) for similar violations related to the fuel price stabilization fund and taxes.
According to conclusions announced in early January, the Government Inspectorate pointed out that many petroleum distributors had underdeclared thousands of billions of dong in taxes. The amount of environmental protection tax owed by these businesses is more than 6,320 billion dong, as of October 2023.
Therefore, the inspection agency recommended transferring the violation files of Hai Ha Petro, Thien Minh Duc, and Xuyen Viet Oil to the Ministry of Public Security for handling. Previously, in August 2023, the Ministry of Industry and Trade revoked the license of Xuyen Viet Oil - a petroleum distribution company also named in the Government Inspectorate's conclusion - for violations in the use of the Price Stabilization Fund and tax arrears.
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