Tax violations, Ninh Binh Thermal Power was fined and had to pay back nearly 4.7 billion VND

Specifically, regarding value added tax, the unit incorrectly declared the arising period of a number of input and output invoices when determining the amount of tax payable on the value added tax declaration dossier for 2022 and 2023.

Regarding invoice management and use, the enterprise issued 11 invoices at the wrong time but did not lead to late tax payment; issued 1 invoice at the wrong time but led to late tax payment in 2022.

Ninh Binh Thermal Power Joint Stock Company was fined and had to pay a total of nearly VND4.7 billion by the Ninh Binh Provincial Tax Department. Photo: ST

According to this decision, Ninh Binh Thermal Power Plant was fined nearly VND810 million. Of which, a fine of 20% on the under-declared value-added tax amount in 2022 amounting to more than VND660.6 million, a fine of nearly VND99.5 million for the act of declaring incorrect indicators on the value-added tax declaration, and a fine of VND49.6 million for the act of issuing invoices at the wrong time.

At the same time, the enterprise must also pay nearly 3.2 billion VND in outstanding tax to remedy the consequences and more than 648 million VND in late tax payment fines.

The total amount of tax that Ninh Binh Thermal Power Plant was subject to is nearly 4.7 billion VND.

In addition, Ninh Binh Thermal Power Joint Stock Company was also subject to aggravating circumstances for repeated violations of the act of issuing invoices at the wrong time but not leading to late fulfillment of tax obligations, and the act of declaring incorrect indicators on the value-added tax declaration related to determining tax obligations but not leading to a shortage of value-added tax payable.

Ninh Binh Thermal Power Joint Stock Company is located at No. 1A, Hoang Dieu Street (Thanh Binh Ward, Ninh Binh City, Ninh Binh Province).

Ninh Binh Thermal Power Plant is a large power producer and supplier for the North with an output of about 700 million kWh/year. The predecessor is Ninh Binh Power Plant under the Northern Power Company and was established on January 17, 1974, currently a member unit of Power Generation Corporation 3.

The company's NBP shares were officially traded on the Hanoi Stock Exchange (HNX) from August 6, 2009.

Regarding business situation, according to the audited financial report for the first 6 months of 2024, Ninh Binh Thermal Power recorded net revenue of nearly 780.7 billion VND, nearly 2 times higher than the same period last year.

However, due to high cost of goods sold and expenses, pre-tax profit decreased by 92.7% to more than 1.5 billion VND.

After deducting taxes and fees, Ninh Binh Thermal Power's net profit was nearly VND1.2 billion, while in the same period last year, its after-tax profit was nearly VND16.2 billion.

As of June 30, 2024, the total capital of the enterprise was nearly 721.3 billion VND; of which, the total debt payable by Ninh Binh Thermal Power at the end of the second quarter of 2024 was nearly 472.7 billion VND, most of which were short-term debts. The company's equity was more than 248.6 billion VND, a slight decrease compared to the beginning of the period.

Source: https://www.congluan.vn/vi-pham-ve-thue-nhiet-dien-ninh-binh-bi-xu-phat-truy-thu-gan-47-ty-dong-post313621.html