On March 23, information from the People's Committee of Quang Binh province said that it had just issued a document announcing the revocation of 71,373.3 m2 of land of Dong Duong Trung Joint Stock Company, due to failure to fully fulfill financial obligations on land. The reclaimed land belongs to the Indochina Quang Binh Resort project in Quang Phu commune (Dong Hoi city).
The People's Committee of Quang Binh province has issued a notice to reclaim the land area leased to Dong Duong Trung Joint Stock Company on November 4, 2010. This project has been implemented since 2010 with the goal of building a high-end resort tourism area in a prime location along the coast of Quang Binh.
As of December 5, 2024, Dong Duong Central Joint Stock Company still owes more than VND23 billion in land tax.
This violation is determined to be a failure to fulfill financial obligations to the State according to regulations.
The tax authority has taken enforcement measures including withdrawing money from accounts at the State Treasury, credit institutions and temporarily suspending exit.
However, Dong Duong Central Joint Stock Company still did not comply. Therefore, the tax authority has issued an official dispatch requesting handling of land recovery due to violations of financial obligations to the State.
The People's Committee of Quang Binh province requires the Central Indochina Joint Stock Company to complete the handling of assets on the land within 45 days from the date of receipt of the revocation notice. The Department of Finance is assigned to preside over and coordinate with relevant agencies to determine the remaining value of items invested in the land for handling according to regulations.
