Two businesses that won the Thu Thiem land auction promised to pay 100 billion VND before April 30

Mr. Le Duy Minh – Director of Ho Chi Minh City Tax Department – said that he had received such notice yesterday from Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company. Official documents are still being sent by post.

Previously, the two businesses above proposed to divide the land use fee payment into 6 installments, lasting from April to September this year instead of paying once as prescribed for the reason that it is difficult to arrange finance. Their project development plan is affected by the spread of the new strain of nCoV, the war situation in Ukraine affects the stability of the economy and investor sentiment.

However, the Tax Department of Ho Chi Minh City assessed that the above reason was not in the case of tax payment extension, so Dream Republic and Sheen Mega were still charged late payment interest. As of today, both are 17 days late from the second payment of land use fees.

Dream Republic won land lot number 3-5, area 6,446 m2, had to pay 3,820 billion dong of land use fee and 500 million dong of registration fee for the area of ​​commercial and service functions. And Sheen Mega Joint Stock Company won the auction of land lot number 3-8 with an area of ​​​​more than 8,500 m2, must pay VND 4,000 billion for land use and be exempted from paying registration fees for residential land.

Dream Republic was established on October 4, 2017 with an initial charter capital of 300 billion VND while Sheen Mega has charter capital of 500 billion VND and has an age of “nearly two months” as of the auction date.

Until July 6, the auction winning result will be canceled if both parties do not pay or do not pay enough money. At the same time, the two businesses will not receive a total of 319.2 billion VND in advance (20% of the starting price).

Previously, the two winning businesses along with Dream Republic and Sheen Mega were Viet Star Real Estate Investment Co., Ltd (a member of the Vietnam Star Group). Tan Hoang Minh) and Investment and Trading Company Limited Dawn I also dropped the deposit because I didn’t pay enough money.

Siddhartha