Accordingly, Asia Group used illegal invoices and documents to declare taxes, reducing the amount of tax payable according to the provisions of Clause 4, Article 143 of the Tax Administration Law No. 38/2019/QH14 dated June 13, 2019.
The aggravating circumstance is that Asia Group violated many invoices and the mitigating circumstance is that the company voluntarily remedied the consequences and compensated for damages for the act of using illegal invoices and documents to declare taxes, reducing the amount of tax payable.
The total fine is more than 35.6 million VND and within 10 days from the date of receiving the tax penalty decision, Asia Group must pay the fine into the account of the District 7 Tax Department - Nha Be district.
Asia Group is a "newbie" on the UPCoM floor. On November 11, this company officially traded on the UPCoM floor with a reference price of VND 63,000/share but continuously decreased.
On the stock market, in the session of December 31, Asia Group's AIG shares were traded around VND46,500/share, down 26% compared to the time of listing. Notably, this stock had almost no liquidity, in the morning session of December 31, it increased 1.5% compared to the reference price but the number of shares traded was only 100 units.
With the sharp drop in stock prices after listing, from November 11 to the end of the morning session on December 31, Asia Group's capitalization decreased from VND 10,747 billion to VND 7,932 billion.
In addition to the stock price plummeting after listing on UPCoM, from November 21 to December 18, Mr. Nguyen Van Minh, brother-in-law of Mr. Nguyen Thien Truc, Chairman of the Board of Directors of Asia Group, sold 55,000 shares to reduce his ownership from 155,000 shares (0.09% of charter capital) to 100,000 shares (0.059% of charter capital).
