Licogi 18 (L18) was fined and had to pay back taxes of 194 million VND.

Recently, the Hanoi Tax Department has issued a decision to impose administrative penalties on tax violations against Investment and Construction Joint Stock Company No. 18 - Licogi 18 (Code L18).

Specifically, L18 was fined VND41.6 million for administrative violations of tax for declaring deductions of value-added invoices of a business not operating at the registered address. Under-declaring revenue eligible for recognition of revenue for value-added tax calculation.

Licogi 18 was fined and had to pay 194.5 million VND in tax arrears (Photo TL)

For its violations, L18 must pay back the outstanding tax amount of 145 million VND. Along with that is a fine of 7 million VND for late tax payment. The total amount of fines and tax arrears that L18 must pay is 194.5 million VND.

Regarding L18's business situation, in the second quarter, the unit recorded net revenue of VND966 billion, an increase of 72.1% over the same period. Of which, cost of goods sold accounted for VND917.5 billion, an increase of 73% over the same period.

Financial revenue in the period increased by nearly 70% to VND2.9 billion. Financial expenses doubled to VND16 billion. Business management expenses increased to VND20.1 billion. L18's profit after corporate income tax in the second quarter reached VND13.6 billion.

L18's accumulated revenue in the first 6 months of the year reached VND 1,286.6 billion, up 38.4% over the same period. However, profit after tax only reached VND 15.1 billion, down 8.4% compared to the first half of 2022.

By the end of the second quarter, L18's total assets reached VND3,879 billion, an increase of VND333 billion compared to the beginning of the year. Of which, liabilities accounted for VND3,319.5 billion, an increase of 13.3% compared to the beginning of the year. Most of which was short-term debt with VND2,377 billion. Long-term debt accounted for VND941.6 billion. The company is borrowing long-term and short-term debt of VND1,826 billion.

Source: https://www.congluan.vn/licogi-18-l18-bi-phat-va-truy-thu-thue-194-trieu-dong-post262618.html