Dong Hai Ben Tre (DHC) was fined for tax violations, profits decreased by 21%

Dong Hai Ben Tre Joint Stock Company (code DHC) has just announced that it has received a decision on administrative sanctions from the Ben Tre Provincial Tax Department. The company was fined for making false declarations leading to a shortage of corporate income tax payable in 2018 and 2021.

For its violation, Dong Hai Ben Tre was fined 56.1 million VND. In addition, the company was also charged with unpaid taxes of 280.7 million VND and a fine of 106.1 million VND for late tax payment.

The total amount of tax arrears and fines that Dong Hai Ben Tre must pay is 442.7 million VND.

Dong Hai Ben Tre (DHC) business declines, fined and tax arrears (Photo TL)

Regarding business performance, in the third quarter of 2023, Dong Hai Ben Tre achieved revenue of VND 794.4 billion, down 18%. Gross profit was VND 106.9 billion, down 15% year-on-year. Gross profit margin increased from 12.9% to 13.5%. The company's after-tax profit reached VND 55.9 billion, down 13.3% year-on-year.

DHC's accumulated revenue in the first 9 months of the year reached VND2,433 billion, down 18.4%. Profit after tax decreased by 21% to VND234.1 billion. Compared to the target set for 2023, Dong Hai Ben Tre has only completed 75% of the revenue plan and 78% of the annual profit target.

Regarding asset structure, at the end of the third quarter of 2023, Dong Hai Ben Tre recorded total assets of VND 2,866.1 billion, not much fluctuation compared to the beginning of the year. Notably, inventories recorded VND 554 billion, down 12%. Construction costs in progress at Giao Long paper mill are currently accounting for VND 45 billion.

In the capital structure, current liabilities account for 1,009 billion VND, all of which are short-term debts. Of which, short-term loans account for 630 billion VND. Owners' equity still accounts for a high proportion of 1,857.1 billion VND.

Source: https://www.congluan.vn/loi-nhuan-sut-giam-21-dong-hai-ben-tre-dhc-bi-xu-phat-vi-pham-ve-thue-post274711.html