Ninh Thanh Regional Tax Department enforces tax collection on Viet Hung Company of nearly 197 billion VND

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Decision on tax enforcement by the Ninh Thanh District Tax Office against Viet Hung Urban Investment Joint Stock Company.

This decision will take effect 30 days from February 22, 2024.

The aforementioned amount represents the initial payment of 50% of the land use fee for two new residential projects in Cao Thang commune and Tu Cuong commune (both in Thanh Mien district). The reason for the enforcement action is that Viet Hung Urban Investment Joint Stock Company (hereinafter referred to as Viet Hung Company) owes taxes for more than 90 days from the due date as stipulated. The second payment of the remaining 50% of the land use fee is due 30 days after the first payment, therefore the deadline for the next tax enforcement action is also approaching.

The Ninh Thanh Tax Department has requested that the Vietnam Foreign Trade Commercial Bank (VCB) and the Vietnam Investment and Development Bank ( BIDV ) deduct funds from Viet Hung Company's account in accordance with the law.

The land area is planned for the implementation of the new residential area project in Tu Cuong commune.

In 2021, Viet Hung Company received approval from the Hai Duong Provincial People's Committee for the investment in the two aforementioned new residential areas. Specifically, the Cao Thang commune new residential area covers approximately 9.6 hectares, with nearly 30.1% of the total area designated as residential land, while the remainder is allocated for commercial services, sports fields, cultural centers, parking lots, technical infrastructure, transportation, and green spaces. The Tu Cuong commune new residential area covers 9.8 hectares, with residential land accounting for approximately 28.5%, and the rest reserved for other purposes.

Perspective view of the new residential area in Cao Thang commune.

Viet Hung Urban Investment Joint Stock Company (Thanh Mien) was established in 2017 with a charter capital of 50 billion VND, its main business being the investment and construction of urban and industrial park infrastructure. The legal representative of Viet Hung Company is Mr. Pham Van Quyet (born in 1983). It is known that Mr. Pham Van Quyet is also the director of the Hai Duong branch of Ha Phuong Group Joint Stock Company, a business currently undertaking many projects in Hai Duong province.

After several capital increases, in March 2022, the company increased its charter capital by 100 billion VND to 226 billion VND. However, shortly thereafter, in July 2022, Viet Hung Company reduced its charter capital by 100 billion VND, so its current charter capital is only 126 billion VND.

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Source: https://baohaiduong.vn/chi-cuc-thue-khu-vuc-ninh-thanh-cuong-che-thue-cong-ty-viet-hung-gan-197-ty-dong-374059.html