Nam Song Hau Petroleum Investment and Trading Joint Stock Company (NSH Petro - headquarter located in Mai Dam Town, Chau Thanh District, Hau Giang) operates in many fields; in which the highlight is the production, distribution, and logistics of petroleum...
NSH Petro representative (left cover) received an award from the leader of Hau Giang Provincial People's Committee
On January 8, Mr. Mai Van Huy, Chairman of the Board of Directors of NSH Petro, said that from 2015 to 2023, NSH Petro paid taxes to the provinces and cities of Hau Giang, Can Tho, An Giang, Soc Trang, Bac Lieu, Kien Giang, Ca Mau, Dong Thap, Vinh Long, Tien Giang, Ho Chi Minh City, Ba Ria-Vung Tau) of more than 14,307 billion VND; of which the amount paid to the Hau Giang budget was 5,522 billion VND.
Also on January 8, the Hau Giang Provincial Tax Department issued Document No. 31/CTHAG-QLN confirming that NSH Petro paid more than VND 1,112.9 billion in taxes to the Hau Giang provincial state budget in 2021, more than VND 757.9 billion in 2022, and more than VND 595.3 billion in 2023. According to the document, as of January 7, 2024, NSH Petro still has a total amount to pay to the state budget of VND 1,134.9 billion. Of which, environmental protection tax is more than VND 573.3 billion; value added tax is over VND 148.3 billion; special consumption tax is over VND 101.1 billion; corporate income tax is over VND 15.1 billion; personal income tax is over VND 10 billion; late payment fees are over VND 286.7 billion.
Chairman of Hau Giang Provincial People's Committee awarded certificate of merit to NSH Petro
Mr. Mai Van Huy said that in previous years, even during the Covid-19 pandemic, NSH Petro always fulfilled its tax obligations to the state early. Even when the pandemic broke out, many companies let workers take unpaid leave, but workers at the Nam Song Hau Oil Refinery (under NSH Petro) not only took leave according to general policy but also received a salary increase of up to 50% to feel secure that when the blockade was over, workers would return and the factory could operate immediately. Despite facing many difficulties during the 2 years of the pandemic, NSH Petro still tried to fulfill its tax obligations well and was awarded a certificate of merit by the People's Committee of Hau Giang province.
Mr. Mai Van Huy (3rd from left) inspects a petroleum production facility.
According to Mr. Huy, in 2022, world oil prices will fluctuate and increase. Based on the Prime Minister's telegram on ensuring the supply of oil for the domestic market, the Ministry of Industry and Trade has issued many directives related to ensuring the supply of oil in the domestic market. Accordingly, NSH Petro must ensure sufficient supply of oil for the Mekong Delta region (more than 1 million tons) to avoid shortages. In particular, when prices increase, NSH Petro is a private company with limited financial resources, facing many difficulties (the company is not supported with capital like other large corporations) but still maintains operations, does not interrupt the supply, must supply oil at a selling price lower than the purchase price, for the common good to ensure social security.
NSH Petro vessel receives gasoline to supply the market
Since then, NSH Petro's gasoline business in 2022 has suffered heavy losses, amounting to VND 236 billion (this financial report has been audited). "From the above difficulties, in 2023, the company's leaders worked and sent many petitions to authorities at all levels. On September 29, 2023, the People's Committee of Hau Giang province issued a document requesting NSH Petro to contact the Hau Giang Provincial Tax Department for guidance on preparing documents and considering the gradual payment of tax arrears according to the opinion of the General Department of Taxation. The People's Committee of Hau Giang province also assigned the Hau Giang Provincial Tax Department to guide NSH Petro to implement in accordance with regulations. Currently, NSH Petro is implementing many feasible solutions to fulfill its state tax obligations as soon as possible, no later than June 30, 2024," Mr. Mai Van Huy informed.
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