HCMC – The HCMC Tax Department has rejected a proposal from two winners of the land auctions in the Thu Thiem New Urban Area in HCMC’s Thu Duc City–Dream Republic Corporation and Sheen Mega JSC—to pay land use fees in monthly instalments.
Nguyen Thi Bich Hanh, deputy head of the department, said on April 7 that the department had received a proposal from the two enterprises to pay 15% of the land use and other relevant fees, including fines for their late payment, this month, and 17% per month from May to August.
The remainder will be paid in September. They also stated their financial difficulties.
However, they are not eligible for the tax payment extension in line with prevailing regulations.
The HCMC Tax Department will continue calculating fines for their late payment and issue decisions to coerce them to pay the fees in line with the Tax Administration Law, Hanh added.
On December 10 last year, Dream Republic Corporation won the auction for the 6,400-square-meter land lot coded 3-5. It must pay a land-use fee of VND3.82 trillion and a registration fee of VND500 million for the lot.
Sheen Mega JSC, which won the auction for the 8,600-square-meter land lot coded 3-8, is subject to a land-use fee of VND4 trillion, but exempt from the registration fee.
Meanwhile, Viet Star Real Estate Investment Co., Ltd, a subsidiary of the Tan Hoang Minh Group, and Binh Minh Trading and Development Investment Co., Ltd., which won the auction of the land lots coded 3-9 and 3-12, have cancelled their purchase contracts and lost deposits of over VND588 billion and VND145 billion, respectively.
