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Wednesday, September 28, 2022

THG fined for tax rule violations

The Saigon Times

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HCMC – The Tien Giang Tax Department has fined Tien Giang Investment and Construction JSC, which trades its shares on the Hochiminh Stock Exchange with the code THG, for its tax-related administrative violations and get the firm to pay hundreds of millions of Vietnam dong in tax arrears.

THG got a total fine of VND147 million for its violations of corporate income tax regulations in 2018, 2019 and 2020; value-added tax regulations in December 2017 and December 2020; and contractor tax regulations in 2018, the local media reported.

The construction firm was also requested to pay VND669 million in tax arrears and VND222 million for its late tax payments.

In the first quarter of 2022, THG posted over VND351 billion in revenue, down 5% year on year, and VND31.5 billion in after-tax profit, down 11.9%.

In 2022, the firm looks to obtain VND1.6 trillion in revenue and VND172 billion in after-tax profit.

Closing the trading session today, June 15, THG lost 5%, extending its falling streak since early June.

Strong selling drove down the VN-Index of the southern bourse by 16.38 points, or 1.33%, from the session earlier, at 1,213.93. There were 93 winners and 373 losers.

Over 688.1 million shares worth VND16.5 trillion changed hands at the close, up 22.7% in volume and 13.4% in value.

In the VN30 basket, 22 stocks fell into negative territory.

The Hanoi Stock Exchange saw the number of decliners outstrip that of advancers by 172 to 37. The HNX-Index dipped by 6.83 points, or 2.35%, against the previous session, at 283.25. Many large-cap stocks were among the main drags of the index.

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