On the afternoon of July 19, Hoang Quan Can Tho Real Estate Investment Joint Stock Company (Hoang Quan Can Tho) announced that the company had fulfilled its tax payment obligation of VND 6.2 billion. Immediately afterwards, the Can Tho Tax Department issued Notice No. 447/TB-CTCTH on the cancellation of the temporary exit suspension order for Mr. Truong Anh Tuan, Chairman of the Board of Directors of Hoang Quan Real Estate Investment Joint Stock Company (Hoang Quan Real Estate) and also the legal representative of Hoang Quan Can Tho, from July 19 because the company had fulfilled its tax payment obligation.
Previously, the Can Tho City Tax Department issued Notice No. 2920/TBXC-CTCTH on the temporary suspension of exit for Mr. Truong Anh Tuan, the legal representative and Chairman of the Board of Directors of Hoang Quan Can Tho Real Estate Investment Joint Stock Company (tax code: 1800715721) in Cai Rang District, Can Tho City. The reason is that Hoang Quan Can Tho was forced to execute an administrative decision on tax management. Accordingly, this company owed more than 6.2 billion VND as of May 31.
Social Housing Project of Hoang Quan Real Estate
The temporary suspension of exit from the country is from June 19 until the taxpayer completes his/her tax payment obligations to the State budget.
A representative of Hoang Quan Real Estate said that Hoang Quan Can Tho is an affiliated company of Hoang Quan Real Estate. Although they share the same key members, the operations of the two companies are separate. Hoang Quan Real Estate Company with a charter capital of VND 5,766 billion operates in many fields such as social housing, commercial housing, industrial parks... in many provinces and cities across the country such as Khanh Hoa, Ninh Thuan, Binh Thuan , Tay Ninh, Ba Ria - Vung Tau, Ho Chi Minh City, Vinh Long Can Tho, Tien Giang, Tra Vinh. Therefore, the operations of Hoang Quan Can Tho are independent from the production and business operations of Hoang Quan Real Estate.
Previously, the Vinh Long Provincial Tax Department also lifted the temporary exit suspension order against Mr. Truong Anh Tuan because he had fulfilled his tax obligations at Hoang Quan Mekong Real Estate Investment - Trade - Service Joint Stock Company.
Previously, when the exit was temporarily suspended, the representative of Hoang Quan Can Tho Real Estate said that they would conduct a comparison and inspection with the Can Tho Tax Department and would resolve the expected tax obligations in July.
In 2024, Hoang Quan Real Estate plans to have revenue of VND 2,000 billion, an increase of 520% over the same period, with a profit of VND 100 billion, an increase of more than 18 times compared to 2023. In addition, the company plans to implement mergers and acquisitions, and auctions of at least 3 social housing projects worth VND 10,000 billion.
At the end of the first quarter, Hoang Quan Real Estate had revenue of just over 13 billion VND, after-tax profit of 5 billion VND.
Closing the trading session on July 19, HQC stock price still decreased slightly, to 3,500 VND/share.
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