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Friday, July 26, 2024

Real estate companies among top tax debtors in HCMC

The Saigon Times

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HCMC – Nearly 200 businesses in HCMC owe a combined tax debt of over VND8.08 trillion, with real estate companies featuring prominently among the top 20 entities with the highest tax arrears.

The city’s tax department recently unveiled its second batch of tax debtors, with the list finalized on October 31.

Leading the list is Xuyen Viet Oil Travel and Transport Trading Company, owing a substantial VND1.5 trillion in taxes. Golden Hill Investment Corporation, previously known for developing the Alpha City project in District 1, follows closely behind with a debt of VND1.29 trillion.

Housing Development and Trading JSC also makes an appearance, with a tax debt exceeding VND600 billion. Several other major real estate firms, including Dat Xanh Group JSC, Danh Khoi Group JSC, Truong Thinh Phat Investment Construction Real Estate Corporation, and Danh Khoi Holdings Investment JSC, are among the top 20 businesses with the highest tax debts.

As of September, tax arrears in the city had reached an alarming VND50 trillion, up by 10% against January. Land-related payments account for the majority of these defaults, totaling over VND12.6 trillion. Among these, businesses owing substantial amounts in land-related taxes constitute a significant portion, while real estate sector entities have accrued a substantial debt in corporate income taxes, amounting to VND4.2 trillion.

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