Sunday, July 22, 2018 12:31:07 AM - Markets open
VN-INDEX 933.39 -10.58/-1.12%
HNX-INDEX 107.62 +2.03/+1.93%
UPCOM-INDEX 50.55 -0.03/-0.07%
BHN: Habeco requested to pay 1.85 trillion VND in tax liabilities
Thanhnien.vn - 5/14/2018 9:28:40 AM
 (0 ratings. You must sign in to rate.)
The State Audit of Vietnam (SAV) has proposed the Hanoi Beer Alcohol and Beverage JSC (Habeco) pay the State budget 1.85 trillion VND (81 million USD) in tax liabilities.
 
The move came after the SAV examined financial statements and activities related to the management and use of capital and assets in 2016 at Habeco and its affiliates.
 
The SAV pointed out a series of errors, violations of the administration and use of State capital of Habeco in 2016.
 
The total 1.85 trillion VND tax arrears that Habeco has to pay includes 4.5 billion VND in value added tax, more than 441 billion VND in excise tax, over 9 billion VND in corporate income tax, 381 million VND in personal income tax and nearly 1.3 trillion VND in other liabilities.
 
The company was also told to reduce the state budget receivables to nearly 5.8 billion VND.
 
According to the SAV, Habeco parent company’s expenditure on programmes and events in 2016 had exceeded the initial plan by 4.7 billion VND.
 
It added that in 2016, the parent company held 30 overseas business trips. However, 24 trips had unclear programmes and 19 had incomplete legal procedures and unclear results.
 
Regarding the parent company’s beer purchase price policy for subsidiaries, the SAV pointed out there was no relation between the purchase prices and the producers’ profits. The determination of the beer purchase prices were all calculated by the prices of the previous year adjusted following the tax-related factors or the output prices.
 
SAV also stated that the interests Habeco’s shareholders were negatively affected due to the parent company’s misusing and mismanaging the state capital.
 
It said the parent company had a large bank deposit but it had yet made an overall reasoned assessment on the credit institutions to select those with competitive interest rates.
 
Habeco completed eight licensing agreements with eight companies under its system in 2016, with contracted production of 68.5 million litres of beer. These agreements required that the eight companies had to sell beer at higher prices than Habeco.
 
However, Habeco had not examined those companies’ selling activities, leading to big differences between the selling prices they reported and the actual selling prices. And no violations were detected and handled in accordance with the contracts.
 
According to Sabeco’s audited financial report, Habeco’s parent company’s revenue in 2016 reached nearly 7.7 trillion VND, up 12.3 percent against 2015. Of this, revenue from the sale of beer was 6.6 trillion VND and revenue from the sale of raw materials was more than 1 trillion VND. Habeco’s equity as of December 31, 2016 was 4.3 trillion VND.-VNA
 
Read original article here
Newer News
19/07 Japan steel firm Kyoei to up stake in VIS
19/07 HAGL asks for shareholders’ approval
18/07 HVN: Vietnam Airlines aims to become five-star airline in 2020
17/07 ACV plans to expand Tuy Hoa airport in Phu Yen province
17/07 NLG: Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project
11/07 FLC: Vietnamese Government approves establishment of Bamboo Airways
11/07 TPB: IFC arranges $100m loan for TPBank to promote digital financial services to MSMEs
10/07 BSR changes to joint stock model
06/07 VNM: Vinamilk’s products present in 43 countries
03/07 Masan Consumer inks strategic partnership with South Korean meat producer
Older News
11/05 HVN: Vietnam Airlines aims to serve 24.3 million passengers in 2018
09/05 HPG: Three people died in Hoa Phat steel factory fire
09/05 GMD: Nam Dinh Vu deep-water port put into use in Hai Phong
09/05 HSG: Hoa Sen group ships largest batch of sheet metal to Europe
05/05 ACV targets over 5.6 trillion VND in 2018 profit
02/05 PV Gas forecasts lower earnings for 2018
26/04 MSN: Masan Group shareholders approve ambitious sales targets
24/04 SAB: ThaiBev officially involves in Saigon Beer management
24/04 SHB to raise capital again this year
23/04 BID: BIDV plans to raise chartered capital by 28% this year
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:10:36 PM
VN-INDEX 933.39 -10.58/-1.12%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.