Viet Nhat Medical Investment and Development Joint Stock Company - a 'giant' specializing in trading and supplying medical equipment to many large hospitals - has just been heavily fined for tax violations.
Medical equipment distributed by Viet Nhat Medical Investment and Development Joint Stock Company is used in many large hospitals - Photo: JVC
Vietnam - Japan Medical Investment and Development Joint Stock Company (stock code JVC) is considered a prominent face in the medical equipment and supplies industry.
This enterprise has experience working with many large units such as: Bach Mai Hospital, Agricultural General Hospital, Ha Giang Provincial General Hospital, Thai Binh Provincial General Hospital, Quang Ninh Provincial Department of Health, Tan Trieu K Hospital, Japan International Cooperation Agency (JICA)...
False declaration, including costs from the unit abandoning the business address
Recently, Viet Nhat Medical has sent a dispatch to the Ho Chi Minh City Stock Exchange (HoSE), regarding the fine imposed by the Hanoi Tax Department. The information was announced by HoSE today, March 3.
Specifically, based on the decision from the Hanoi Tax Department, the "big guy" in the field of providing medical equipment has committed many violations. Wrongly declaring many items related to: input value added tax (VAT) of invoices for purchasing goods and services of units that have abandoned their business addresses, revenue and output VAT, and adjustment targets according to regulations of the Ministry of Finance.
In addition, the enterprise also committed the error of under-allocating non-deductible input VAT for non-VAT taxable revenue according to regulations. Late declaration of some non-taxable revenue, VAT taxable revenue... In addition, it also declared the cost of purchasing goods and services of units that abandoned their business addresses.
Not to mention, this company has recorded the expenses in advance for the payables to employees, but in reality, it did not spend all of them according to regulations. The accounting for the payment to shareholders (including principal and interest) into the operating expenses of the association during the period is incorrect. The accounting for the estimated revenue from the association is lower than the actual receipt, which is not in accordance with the circular of the Ministry of Finance.
With a series of violations, Viet Nhat Health was fined a total of more than 12.8 billion VND by the Hanoi Tax Department, including additional taxes, fines and late payment fees.
Stocks under warning
Regarding business results, the consolidated financial report shows that the company achieved revenue of VND612 billion in 2024, down more than 6% compared to the same period last year. After deducting cost of goods sold and expenses, net profit was nearly VND52 billion, a slight decrease.
As of the end of last year, assets increased by more than 20% compared to the beginning of the year, reaching nearly 830 billion VND. Liabilities increased relatively to 275 billion VND. Owner's equity was over 551 billion VND.
On the stock market, JVC code is currently anchored at 4,600 VND/share, falling into the warning category, due to the continuously negative undistributed profit after tax (by the end of last year, it was negative more than 995 billion VND).
In recent years, Viet Nhat Medical has been quite strong in distributing medical equipment and supplies such as: X-ray systems, magnetic resonance imaging (MRI) systems, film printers, diagnostic ultrasound, anesthesia and ventilation machines, patient monitors, neurosurgical positioning devices...
In addition to selling equipment, the company also provides a series of accompanying services, including: consulting, technical support, machine repair, warranty and maintenance...
Source: https://tuoitre.vn/dai-gia-chuyen-ban-thiet-bi-y-te-cho-nhieu-benh-vien-lon-bi-truy-thu-thue-va-phat-gan-13-ti-dong-20250303190011821.htm
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