Sao Vang Rubber Company is ordered to pay back taxes and fined nearly 1.4 billion VND.

ANTD.VN - Sao Vang Rubber Company made tax declaration errors, with aggravating circumstances including repeated violations, leading to penalties and the recovery of nearly 1.4 billion VND in taxes.

Sao Vang Rubber Joint Stock Company (stock code: SRC) has just been fined by the Hanoi City Tax Department for administrative tax violations.

According to the penalty decision, Sao Vang Rubber Company incorrectly declared taxes, resulting in a reduction of value-added tax (VAT) payable in 2023, a reduction of corporate income tax (CIT) payable in 2022 and 2023, and a reduction of personal income tax payable in 2023.

In addition, the company incorrectly declared taxes, increasing the amount of deductible VAT for December 2022 and December 2023.

In addition, this company also violated regulations by failing to register tax identification numbers for its employees in 2023.

Sao Vang Rubber Company was fined by the tax authorities for incorrect tax declarations.

Furthermore, Sao Vang Rubber Company also faces aggravating circumstances due to repeated violations involving false tax declarations that increased the deductible VAT amount in December 2022 and December 2023.

For the aforementioned violations, the company was fined over 233.3 million VND. In addition, the company must rectify the situation by paying back taxes recovered through the inspection amounting to over 1.05 billion VND and late payment penalties of over 78.8 million VND.

Thus, the total amount of fines, back taxes, and late payment penalties imposed on Sao Vang Rubber Company is over 1.37 billion VND.

Sao Vang Rubber Company is a leading enterprise in Vietnam's rubber industry. According to the company's financial report, in 2023, net revenue and pre-tax profit reached nearly VND 1,198 billion and over VND 39 billion respectively, an increase of 31% and 2% compared to the previous year. Compared to the set plan, the company only achieved 60% of its revenue target and 39% of its after-tax profit target.

In the first nine months of this year, the company achieved revenue of 810 billion VND, a 10% increase compared to the same period last year. However, its after-tax profit increased eightfold compared to the same period last year, reaching nearly 123 billion VND, due to a significant increase in other income (306 billion VND).

Source: https://www.anninhthudo.vn/cao-su-sao-vang-bi-truy-thu-xu-phat-gan-14-ty-dong-tien-thue-post596798.antd