Many businesses violate in the securities sector
On January 9, 2025, the State Securities Commission (SSC) issued a decision to fine An Gia Real Estate Investment and Development JSC VND 325 million.
The Company has changed the plan for using capital and the proceeds from the public offering of securities without approval of the General Meeting of Shareholders. Accordingly, on March 29, 2022, the Company changed the plan for using the proceeds from the 2022 public offering of securities without approval of the General Meeting of Shareholders.
Remedial measures: Force approval at the nearest General Meeting of Shareholders on changing the purpose or plan for using the proceeds from the public offering of securities.
Not long ago, in early December 2024, the company was also fined VND 395 million due to a series of violations in information disclosure; violating regulations on transactions with shareholders, business managers and related persons of these subjects.
Previously, on January 6, 2025, the Chief Inspector of the State Securities Commission issued a Decision to impose an administrative penalty on Hoa Thanh Long Limited Liability Company with an amount of VND 92.5 million.
Violations of non-disclosure of information required to be disclosed according to legal regulations include: Failure to send information disclosure (CBTT) content to Hanoi Stock Exchange (HNX); Sending CBTT content to HNX on time with many documents.
Businesses fined for tax violations
In the tax field, on January 8, 2025, Petroleum Machinery and Equipment Joint Stock Company (PVMachino - HNX: PVM) was fined nearly VND 2.1 billion by the Hanoi Tax Department for accounting for business management costs with incomplete records at the time of inspection.
At the same time, PMV must pay an additional 10.4 billion VND in corporate income tax (CIT) increased through inspection, bringing the total amount of fines and arrears to 13.4 billion VND.
On January 6, 2025, Yeah1 Group Corporation (HOSE: YEG), the producer of "Call Me by Fire", was also administratively fined for tax by the District 3 Tax Department (HCMC). The total amount of arrears, taxes and late payment fees is nearly 318 million VND.
From 2022 to 2023, YEG declared incorrectly or incompletely the indicators on the tax declaration and the appendices attached to the tax declaration but not related to determining tax obligations; Incorrect declaration leading to a shortage of VAT payable; Incorrect declaration but not leading to a shortage of CIT payable.
Another enterprise, Vinaprint JSC (VPR), announced last week that it had received an administrative tax penalty decision from the Ho Chi Minh City Tax Department with a fine of more than VND4.7 million.
VPR used illegal invoices, illegally used invoices to declare taxes, increasing the deductible VAT amount and reducing the payable corporate income tax amount.
