Ho Chi Minh City Tax Department talked about Thuduc House's tax profiteering behavior

(LDO) - The Tax Department of Ho Chi Minh City once determined that the export contracts of Thuduc House were essentially fake, the purchase and sale invoices with foreign countries were incorrect, in fact there were no transactions.
Regarding the fact that the Ministry of Public Security has prosecuted and detained Mr. Nguyen Vu Bao Hoang, General Director of Thu Duc House Development Joint Stock Company (Thuduc House), on the charge of "fraud to appropriate property", a Inspectors of Ho Chi Minh City Tax Department said that this company used to take advantage of value added tax (VAT) in exporting electronic components.

Accordingly, from 2018, Thuduc House has exported electronic components. Thuduc House explains that electronic components the company buys from Thu Duc House Wood Trading Joint Stock Company and then exports them abroad.

The Tax Department of Ho Chi Minh City talks about the tax profiteering behavior of Thuduc House - Photo 1.
Mr. Nguyen Vu Bao Hoang, General Director of Thu Duc Housing Development Joint Stock Company (Thuduc House), has just been arrested for the crime of "fraudulent appropriation of property".

However, the HCM City Tax Department determined that the export contracts of Thuduc House were artificial in nature, in order to conceal the amount received at a certain percentage of the value of exported goods. The sales invoices with each other and with the foreign side are not correct, in fact there is no transaction.

In addition, the input invoices that Thuduc House deducts to receive VAT refund are received from Thu Duc House Wood Trading Joint Stock Company with the content written on the invoice as buying and selling goods in contravention of regulations. This entire invoice is virtual to help Thuduc House benefit on the export contract value.

Determining that Thuduc House has profited from tax of more than 200 billion VND, so the Tax Department of Ho Chi Minh City has issued a decision to recover the VAT refunded for this company is more than 200 billion VND; trace back the tax period 2017 and 2018 and issue a decision to recover the refunded VAT amount in this period of more than 109 billion dong.

After freezing Thuduc House's accounts at many banks, the tax agency collected more than 240 million VND. Recently, the Tax Department of Ho Chi Minh City has issued a decision to forcefully stop using Thuduc House's invoices.

Thy Tho

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