Social housing "boss" NHS Group was fined and had to pay over 13 billion VND in taxes

(Dan Tri) - Hanoi Tax Department (now Region I Tax Department) requested NHS Construction Investment Joint Stock Company to pay back taxes, administrative fines and late payment of 13.16 billion VND.

Hanoi Tax Department (now Tax Department Region I) has just concluded a tax inspection at NHS Construction Investment Joint Stock Company (NHS Group).

In the inspection conclusion, regarding accounting books, invoices, and vouchers, the company has implemented the accounting books, accounting accounts, invoices, and vouchers regime in accordance with regulations, but incorrectly determined the value added tax on sales invoices; deductible purchase invoices; incorrectly determined revenue and expenses for calculating corporate income tax; temporarily underpaid corporate income tax on money collected according to the progress of the housing project for sale; and failed to issue invoices at the right time.

Specifically, regarding value added tax, NHS Group has committed a number of violations such as declaring revenue and value added tax at the wrong time; incorrectly declaring tax-free revenue and non-taxable revenue; under-declaring revenue and value added tax (tax rate of 10%); NHS transferring real estate inconsistently with market prices...

NHS Trung Van social housing project (Photo: Tran Khang).

Regarding corporate income tax, NHS Group transferred real estate not in accordance with market prices, recorded the cost price for the basement area exceeding the transferred area; recorded the cost price of real estate before handover, did not fully record revenue and expenses for the enterprise's revenue and expenses, and deducted revenue not in accordance with regulations...

Regarding the aggravating circumstances of NHS Group, the tax authority determined that the enterprise had declared incorrectly or incompletely the indicators related to determining tax obligations in the tax records but did not lead to a shortage of tax payable in 9 value-added tax declaration periods in February, March, April, May, August, September, October, November, and December of 2023; issued 426 invoices at the wrong time but did not lead to a delay in fulfilling tax obligations.

Regarding administrative sanctions, NHS Group was fined more than VND3.53 billion. As a remedial measure, the tax authority collected additional corporate income tax through inspections of more than VND8.02 billion. Of which, corporate income tax on real estate transfer activities was more than VND6.67 billion; corporate income tax on production and business activities was more than VND1.16 billion.

In addition, the company was fined VND1.61 billion for false declaration, with a penalty of 0.03%/day calculated on the amount of late tax payment, up to February 20. In addition, the deductible value-added tax reduction was transferred to the next period by more than VND1.98 billion. Thus, the total amount of fines and arrears that NHS Group was fined and collected by the tax authority was VND13.16 billion.

Source: https://dantri.com.vn/bat-dong-san/trum-nha-o-xa-hoi-nhs-group-bi-phat-va-truy-thu-hon-13-ty-dong-tien-thue-20250314121508767.htm