The two companies that won the Thu Thiem land auction would like to pay 100 billion VND in advance
On April 23, Mr. Le Duy Minh, Director of Ho Chi Minh City Tax Department said that he had received a document from Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company announcing the payment of winning land auction.
Accordingly, these two businesses said that, because the tax authorities did not agree to the installment payment, Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company would make financial arrangements to pay the money within 180 days. In the immediate future, these two companies will pay 100 billion VND before April 30 to “show goodwill” to implement the project.
It is known that Dream Republic Joint Stock Company won the auction of land lot 3-5 in Thu Thiem new urban area, paying 3,820 billion VND. And Sheen Mega Joint Stock Company won the auction of lots 3-8 in Thu Thiem new urban area, had to pay 4,000 billion VND.
The tax sector has also sent notices to remind these two businesses of the amount to be paid in the first installment to the state budget before May 6. After this time limit, the bank account will be enforced according to the provisions of the Law on Tax Administration, because the tax owed more than 90 days from the date of expiration of the prescribed payment time limit.
Currently, the tax authorities are still calculating the late payment interest at 0.03%/day. The calculation of late payment for the first installment has been applied since February 6. From April 7th, enterprises are charged an additional late payment fee for the second phase. Currently, the late payment amount these two businesses have to pay is more than 2.3 billion VND/day.
Previously, on April 7, Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company submitted a written request to extend the time for paying the winning money at the land auction. According to the official dispatch of CP Dream Republic, after winning the auction, the company met with potential partners to develop the project development orientation on plots 3-5, Thu Thiem New Urban Area. Partners fully support the direction of building brand positioning instead of just putting profit first.
However, after winning the auction, there were many domestic and foreign events that greatly affected the economic development situation, especially the information after the two businesses put down deposits, causing a negative impact, affecting the confidence of the people. information of strategic partners, the fact that the company has not fulfilled its financial obligations is beyond the control of the enterprise. Despite the difficulties, the company is making efforts to arrange financial sources to pay into the state budget the winning land auction money as well as related fees and charges.
Similarly, the dispatch of Sheen Mega Joint Stock Company to the People’s Committee of Ho Chi Minh City and related departments also stated objective and subjective difficulties, leading to the delay in payment of the winning bid and related fees.
With the desire to continue implementing the project on the land plots after winning the auction, the two businesses have since proposed to the Ho Chi Minh City authorities a plan to pay late for the payment of the winning bid.
Accordingly, these two businesses would like to extend the time for paying the winning land auction and related fees, including fines for late payment until September 2022. Specifically, 15% in April and 17% in May, June, July and August each month; September 2022 to pay the entire remaining amount.
Exchange with Tien Phongthe Tax Department of Ho Chi Minh City said, this is an unprecedented thing, so the relevant departments must meet to get opinions before advising the People’s Committee of Ho Chi Minh City.
As explained by the Tax Department of Ho Chi Minh City, according to the provisions of the Tax Administration Law, taxpayers are entitled to an extension of tax payment if they fall into one of the following cases such as material damage, which directly affects production, business due to force majeure (physical damage due to natural disasters, disasters, epidemics, fires, unexpected accidents…) or the business has to stop operating due to relocation of production facilities, doing business at the request of the competent authority, affecting production and business results… Therefore, the Tax Department of Ho Chi Minh City will charge a late payment interest as prescribed at 0.03%/day.
According to the provisions of the Law on Tax Administration, taxpayers with tax debts owed more than 90 days after the expiration of the prescribed payment time limit will be subject to enforcement of administrative decisions on tax administration. However, up to this point, the tax authority has not issued a decision on tax enforcement with Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company because this is a land auction, not a tax debt, the business also has a written request. … gradually paid.
As reported, on December 10, 2021, Ho Chi Minh City Property Auction Center held an auction of 4 land lots in functional area 3 of Thu Thiem new urban area project. The towering auction winning results made many people in the business world real estate surprised.
However, after that, Tan Hoang Minh Group and Binh Minh Trading and Investment Development Company Limited asked for a deposit and did not carry out the project. The other two enterprises, Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company, have not yet paid land use levy with the payable amount of VND 3,820 billion and VND 4,000 billion, respectively.
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