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Wednesday, May 18, 2022

Two Thu Thiem land auction winners say will make payments

The Saigon Times

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HCMC – Dream Republic Corporation and Sheen Mega JSC, which are among four businesses that won the land auctions in the Thu Thiem New Urban Area in HCMC’s Thu Duc City, have just promised to pay the land use fees even though the payment deadline has passed, according to the HCMC Tax Department.

At a meeting on March 21 between the department and the two firms, representatives of the two companies said they were trying to mobilize funds for the payments, the local media reported.

They must pay a total of over VND8 trillion. The HCMC Tax Department is calculating the fines for their late payment of the registration and land-use fees.

On February 10, the HCMC Tax Department wrote to the two enterprises, reminding them of the payments.

Under the regulations, they must pay the registration fee and half the land-use cost no more than 30 days from the date of the department’s announcement. The remaining land use fee must be made within 90 days of the announcement.

The deadline for the first payment is February 7. However, both Dream Republic Corporation and Sheen Mega JSC have not made any payments since.

Dream Republic Corporation, which won the auction for the 6,400-square-meter land lot coded 3-5, is required to pay a land use fee of VND3.82 trillion and a registration fee of VND500 million for this lot.

Meanwhile, 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.

Viet Star Real Estate Investment Co., Ltd, a subsidiary of Tan Hoang Minh Group, and Binh Minh Trading and Development Investment Co., Ltd., which won the auctions of the land lots coded 3-9 and 3-12, have cancelled their purchase contracts.

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