Kosy was fined and had to pay back more than 6.8 billion VND

(Dan Tri) - Kosy Joint Stock Company was fined for administrative violations of value added tax and corporate income tax; forced to pay all outstanding taxes. The total amount of arrears, fines, and late payment fees is more than 6.8 billion VND.

Kosy Joint Stock Company (stock code: KOS) has just announced information about receiving a decision to sanction administrative violations of tax from the Hanoi Tax Department. Specifically, the Hanoi Tax Department has sanctioned Kosy Joint Stock Company for administrative violations of value added tax (VAT) and corporate income tax (CIT).

Accordingly, this company declared that it had not allocated VAT to non-taxable revenue, declared incorrect indicators on the VAT declaration, under-declared revenue subject to VAT, and sold goods below cost price without basis.

Decision to punish Kosy Joint Stock Company (Screenshot).

This company recorded business management expenses for goods purchase and customer service expenses not in accordance with regulations, did not have sufficient documents at the time of inspection as prescribed, sold goods below cost price without basis, and recorded loan interest expenses not in accordance with regulations.

Perspective of a project of Kosy Joint Stock Company (Photo: DT).

The Hanoi Tax Department decided to impose a fine of nearly VND911.7 million for the act of declaring leading to a shortage of tax payable; a fine of nearly VND28 million for the act of falsely declaring or incompletely declaring indicators related to determining tax obligations in tax records that do not lead to a shortage of tax payable or do not lead to an increase in exempted, reduced, or refunded tax; a fine of VND4 million for the act of issuing invoices at the wrong time but not leading to a delay in tax payment; and a fine of nearly VND1.4 billion for late payment of tax.

In addition, this real estate company must also remedy the consequences by paying the full amount of corporate income tax owed to the State Budget of nearly 4.6 billion VND.

The total amount of tax arrears, fines and late payment fees according to the penalty decision is more than 6.8 billion VND.

The Hanoi Tax Department stated that within 10 days from the date of receiving the decision, Kosy Joint Stock Company must strictly comply with the penalty decision. If the company fails to comply within the above-mentioned time limit, it will be forced to enforce the administrative decision according to the provisions of law.

Kosy Joint Stock Company was established in 2008 and became a public company in 2017. This enterprise operates in the fields of real estate, construction, and renewable energy. In which, real estate is the main business segment.

The company is the investor of a number of projects in Lao Cai, Thai Nguyen and Bac Giang . For example, the Kosy Song Cong urban area project (Thai Nguyen) has a scale of 38.78 hectares; the Kosy Eden urban area (Bac Giang) has a scale of 23.3 hectares; the Kosy Mountain View project has a scale of 38 hectares; the Kosy Gia Sang urban area (Thai Nguyen), the Kosy Bac Giang urban area and the new residential area of ​​Cau Go town (Bac Giang).

In 2019, Lao Cai Provincial People's Committee directed the authorities to include the Kosy Mountain View project in the 2020 comprehensive inspection plan after receiving information from the press and direction from Permanent Deputy Prime Minister Truong Hoa Binh .

According to the financial report for the fourth quarter of 2024, Kosy Joint Stock Company's revenue in 2024 reached nearly VND 1,439 billion, a slight increase compared to VND 1,316 billion in 2023. Profit after tax was more than VND 26 billion, an increase of 24.6% compared to 2023. KOS stock price is currently at VND 39,400/unit.

Source: https://dantri.com.vn/bat-dong-san/kosy-bi-phat-va-truy-thu-hon-68-ty-dong-20250310101727384.htm