Binh Duong Province fines Dai Nam JSC $4.5 million

Thursday, Aug 20, 2015 08:01

The Dai Nam Tourism Park. — Photo zing

BINH DUONG (Biz Hub) — Authorities in the southern province of Binh Duong yesterday slapped the Dai Nam Joint Stock Company, which owns Dai Nam Tourism Park, with back taxes and fines of VND99 billion (US$4.5 million).

Inspections of the company's books from 2009 to 2014 found it had not accurately followed accounting norms and ended up paying VND97.7 billion ($4.45 million) less in taxes than it should have, they said.

Its other violations include deviating from the licence terms in terms of number of floors and size at four construction sites and failing to get licences for 167 completed structures.

The company has used around 25 hectares of land at Dai Nam Tourism Park without getting approval; it sold land plots instead of apartments at Song Than 3 Industrial Park; it completed a trade centre in 2011 but has not put it to use as agreed until now; eight of its projects lack the official report about environment impacts, with some also failing to report environment protection measures and others not having solid waste collection system or waste water treatment system.

"Binh Duong Province appreciates the contribution of Dai Nam Joint Stock Company to the province's development but violations must be penalised," Tran Thanh Liem, deputy chairman of the Province People's Committee, said.

But he admitted that related authorities were partly responsible for many of the violations due to their incompetence.

Dai Nam Joint Stock Company was established in 1996 and operates in real estate, factory lease, industrial park technical infrastructure, urban residential development, and tourism. Dai Nam Tourism Park is a highly popular amusement destination. — VNS.

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