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| HCM City Tax Department collected over VND16.1 billion (more than US$766,000) in tax arrears from six shareholders of the Pho 24 Commerce and Service JSC after an investigation carried out in the first quarter of 2014. — Photo vtc.vn |
HCM CITY (Biz Hub) — Shareholders of the Pho 24 Commerce and Service JSC and the Hoan My Medical Corporation will pay more than VND180 billion, or US$8.57 million, in tax arrears.
This was announced recently by the HCM City Tax Department, which investigated capital transfer at the two firms in the first quarter of 2014. The department said that Hoan My established four branches, changed locations thrice and changed its business registration certificate seven times. The firm also increased its charter capital from VND118 billion, or $5.6 million, to VND155 billion, or $7.3 million.
Hoan My enumerated its capital transfer. However, a shareholder of the company had not listed his personal income tax properly in a capital transfer in 2011. Therefore, the tax department collected the tax and fined the shareholder more than VND166.24 billion, or $7.9 million.
At the Pho 24 Commerce and Service JSC, six shareholders transferred capital with a large generated amount between the transfer price and the cost price in September 2008. Therefore, the tax department collected personal income tax arrears of over VND16.1 billion, or more than $766,000. Biz Hub contacted Pho 24 for more information but it was unavailable for any comments.
Besides these two cases, the department investigated nearly 3,000 firms and collected tax arrears and fines amounting to VND1,072 billion, or over $51 million, in the first three months of this year. — VNS