The Director of the Hanoi Tax Department has just signed a decision to impose administrative penalties on tax violations against FIT Group Joint Stock Company, located on the 5th floor of Times Tower - HACC1 Complex Building, No. 35 Le Van Luong Street, Nhan Chinh Ward, Thanh Xuan District, Hanoi City; the legal representative is General Director Nguyen Van Ban.

FIT Group Joint Stock Company first registered business on March 8, 2007, changed for the 35th time on November 24, 2023.

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FIT Group was fined nearly VND16 billion for tax violations. Photo: FIT

The tax authority determined that FIT Group committed the following administrative violations:

Regarding value added tax (VAT): Deduction declaration for purchase invoices of businesses that leave the business address and invoices that do not serve production and business purposes.

Regarding corporate income tax (CIT): Accounting for expenses during the period for invoices with no business address; Incorrectly accounting for cost of goods sold during the period; Setting up provisions not in accordance with regulations; Accounting for invoices not serving production and business.

Based on current regulations, for the act of false tax declaration, FIT Group was fined more than 2.46 billion VND; of which, 2.44 billion VND for the act of false declaration leading to a shortage of tax payable and 20.8 million VND for the act of false declaration of tax declaration but not leading to a shortage of tax payable, increasing the amount of tax exempted, reduced or not yet refunded in the tax declaration of February, May, August 2022.

Along with that, FIT Group must take two remedial measures.

One is to pay the remaining 12.2 billion VND in VAT and corporate income tax for 2022 and 2023 to the state budget (including 276.3 million VND in VAT and 11.93 billion VND in corporate income tax).

Second, pay 1.23 billion VND in late tax payment to the state budget, including 61.85 million VND in late VAT payment and 1.71 billion VND in late corporate income tax payment. This late tax payment is calculated until January 17, 2025. FIT Group must calculate and pay the late tax payment from January 18, 2025 to the next day of full payment of the late tax payment to the budget.

The total amount of tax arrears, fines and late payment fees is about 15.9 billion VND.

On January 22, FIT Group fully performed its obligations according to the penalty decision of the Hanoi Tax Department.