On January 21, information from the People's Committee of Lao Cai province, the Provincial Tax Chief just decided to sanction administrative violations against Nhat Minh Trading and Import-Export Co., Ltd. for violating tax regulations.
According to the decision, Nhat Minh Trading and Import-Export Co., Ltd. (address at No. 002C, Le Khoi Street, Lao Cai Ward, Lao Cai Province), directed by Mr. Nguyen Dinh Chien as director, legal representative, had acts of false declaration leading to a shortage of corporate income tax and value-added tax payable in 2022-2023.
Although economic nghiep vu have been accounted for in accounting books, with legal invoices and documents, the incorrect declaration still violates the provisions of point a, clause 1 and point a, clause 2, Article 16 of Decree No. 125/2020/ND-CP of the Government on sanctioning administrative violations related to taxes and invoices.
For the above act, Nhat Minh Trading and Import-Export Co., Ltd. was fined at a rate of 20% calculated on the tax arrears, corresponding to more than 33 million VND.
In addition, businesses are forced to remedy the consequences by supplementing the amount of tax owed through inspection with a total amount of more than 165 million VND. In which, corporate income tax is more than 114 million VND, value-added tax is more than 51 million VND.
Not only that, the company also has to pay tax arrears with an amount of nearly 53 million VND, as of January 16, 2026. The arrears arising after this time, the enterprise is responsible for calculating and fully paying into the state budget according to regulations.
The total amount of money Nhat Minh Trading and Import-Export Co., Ltd. must pay after inspection, including arrears, administrative fines and late payment fees, is more than 251 million VND.
In case of non-voluntary compliance, businesses will be subject to enforcement according to the provisions of law and must bear an additional late payment penalty of 0.05% per day on the total amount not yet paid.
