Hoang Anh Gia Lai was fined and had to pay nearly one billion VND in taxes.

Due to false declaration of personal income tax and land rent, Hoang Anh Gia Lai was charged and fined about 974 million VND.

Hoang Anh Gia Lai Joint Stock Company (HAG) has just received a penalty decision from the Gia Lai Provincial Tax Department. The company violated the law by declaring incorrectly, leading to a shortage of value-added tax, land rent, and personal income tax. HAG also declared incorrectly corporate income tax, but did not lead to a shortage of this amount. In addition, they also violated the law by not issuing invoices for goods used as gifts.

Accordingly, the company was charged nearly VND722 million in back taxes and nearly VND93 million in late payments. The company was also fined more than VND159 million for the above violations. The total amount to be remedied is about VND974 million.

Hoang Anh Gia Lai's business situation has recently seen positive changes. In the first 9 months of the year, the company's after-tax profit was over VND851 billion, up 20% over the same period thanks to reductions in cost of goods sold and fixed costs. Mr. Doan Nguyen Duc (Bau Duc) - Chairman of HAG - said that the company has recovered thanks to agriculture and determined a development strategy according to circular agriculture.

In the coming time, the company will also continue to restructure its finances to further reduce its outstanding debt to banks, reduce interest expenses and maintain a stable cash flow for production and business activities. Mr. Duc hopes to gradually reduce and eliminate accumulated losses, overcoming the situation of stocks being put on warning status.

During a recent field trip with shareholders, Mr. Duc said that he had doubled the durian area to 2,000 hectares in two years, stretching from Vietnam to Laos. The company plans to harvest 600 hectares next year. According to Mr. Duc, China needs at least 7-10 more years to be self-sufficient in durian if it leases land abroad. Therefore, this is a golden opportunity for businesses in the next 5 years.

Source: https://baodaknong.vn/hoang-anh-gia-lai-bi-phat-va-truy-thu-thue-gan-mot-ty-dong-238424.html