Thuduc House suffered a heavy loss in 2020 due to tax arrears. Photo Internet.

Specifically, Thuduc House was imposed VAT arrears worth VND20.8 billion. In addition, this company must pay over VND9.5 billion of late payment interest of VAT and be revised down the VAT deduction worth VND67.5 billion.

The HCM City tax authority requested the company pay tax arrears and additional amount of VND97.8 billion.

At the end of 2020, the tax authority issued a decision to collect over VND396 billion of VAT, late payment interest of VAT and revise down the deduction for 2018 and the second half of 2019.

Thuduc House did not agree with all the decision of the HCM City Tax Department and filed a lawsuit against the administrative decision at the People's Court of HCM City. However, the company still has to make a provision for payables related to these tax arrears.