Penalty for tax violations
The Ho Chi Minh City Tax Department has just issued a decision to administratively sanction SBS Securities Corporation (UPCoM: SBS) for many tax violations in the period from 2021 to 2023.
Violations include incorrect declaration of input value added tax, leading to a shortage of taxes payable, incorrect declaration of corporate income tax in 2021; incorrect declaration of taxable income in 2022 and 2023; incorrect declaration of personal income tax, leading to a shortage of taxes payable, and the use of illegal invoices, violating the provisions of the Law on Tax Administration.
For the above violations, SBS was fined a total of VND 353.0 million. Of which, the tax evasion was fined 1.5 times, equivalent to 176.5 million VND; fined 7.1 million VND for violating tax procedures; 66.4 million VND for incorrect declaration of value added tax and corporate income tax; 102.8 million VND for incorrect declaration of personal income tax.
In addition to the fines, the company must also pay an additional VND 964.4 million in tax receivables. Including: VND 200.2 million value-added tax, VND 249.9 million corporate income tax and VND 514.2 million personal income tax from wages.
The company was also charged VND 206.9 million in late tax payment, including VND 41.6 million in late value added tax payment, VND 41.5 million in corporate income tax and VND 123.8 million in personal income tax.
Thus, the total amount of tax collection, late payment and administrative fines for SBS Securities is more than 1.5 billion VND.
Also violating taxes, FPT Securities Joint Stock Company (FPTS) recently received a decision to sanction tax administrative violations from the Hanoi Tax Department.
The penalty is related to the tax inspection period from 2022 - 2023, with a total amount payable of 99.5 million VND. Of which, FPTS must pay an additional VND39,200 in value added tax and VND72.4 million in corporate income tax. The company was fined VND 14.5 million for false declaration and had to pay an additional VND 12.6 million for late tax payment.
According to information from the enterprise, FPTS has paid to the State budget the full amount of additional taxes payable, fines for incorrect declaration, and late payment fines in accordance with the above decision.
Violations in the securities sector
In the securities sector, the State Securities Commission (SSC) has just issued a decision to administratively sanction a Securities Joint Stock Company with a trading address in Hanoi City.
This company was fined for allowing customers to place orders to buy securities without enough money in the trading account and not managing the customer's assets separately from the company's assets during the process of making money transfers between the dedicated account and the payment account. Violations allow customers to conduct deposit transactions beyond the existing purchasing power on the deposit transaction account.
In addition, the above Securities Company also violated regulations on lending restrictions when implementing contracts that did not comply with signed terms.
The SBV discovered that it had provided securities services or other services that had not been reported or approved by this agency.
Currently, the State Securities Commission has required the company to ensure full compliance with regulations on asset management, information disclosure and brokerage activities to protect the transparency and fairness of the stock market.
