A series of tax-debt businesses are forced to pay invoices

A series of businesses in Ho Chi Minh City, from real estate to petroleum and telecommunications, have just been forced by the Tax Department of Region II to stop using invoices from April 2025 due to tax debts lasting more than 90 days.

Topping the list is Duc Khai Joint Stock Company with a huge tax debt of 560 billion VND, followed by Bach Khoa Viet Construction Investment Consulting Trading Joint Stock Company with a debt of 221 billion VND.

Among the businesses forced to pay invoices, there is a unit that owes up to 506 billion VND in taxes.

In addition to Duc Khai and Bach Khoa Viet, other businesses that have had their invoices forcibly collected include: Ho Chi Minh City Electrical Machinery Joint Stock Company (telecommunications, electronic components) owing 7.1 billion VND, Saigon Railway Printing Joint Stock Company (printing) owing 4.4 billion VND, GTG Wellness Healthcare Co., Ltd. (health care) owing 641 million VND and Saigon Mechanical and Construction Industry Joint Stock Company (construction) owing 508 million VND.

The decision to enforce invoices, which will be effective for one year, could make it impossible for these businesses to issue invoices, meaning the risk of business disruption.

Duc Khai Joint Stock Company has its company address at 1st floor, block A3, D3 street, Phu My resettlement area, Phu My ward, district 7, Ho Chi Minh City, is a long-standing enterprise operating in the real estate sector. In addition, this company also operates in the fields of trade and logistics.

Bach Khoa Viet Construction Investment Consulting Trading Joint Stock Company, a major petroleum hub in the South, was once forced to stop import and export procedures due to overdue tax debts.

Smaller businesses such as Ho Chi Minh City Electronics Corporation, which specializes in telecommunications equipment, or Saigon Railway Printing Corporation, which operates in the printing industry, also face financial pressure.

According to regulations, if businesses fail to pay their debts in full, stronger measures can be applied, such as seizing assets, auctioning them off, revoking business licenses, or even banning business leaders from leaving the country. According to Decree 49/2025/ND-CP, individuals who owe taxes of VND50 million or more and are overdue for more than 120 days can have their exit temporarily suspended.

Source: https://nld.com.vn/hang-loat-doanh-nghiep-no-thue-bi-cuong-che-hoa-don-co-dai-gia-bat-dong-san-no-560-ti-dong-196250509105855718.htm