Tan Tien Plastic Packaging Joint Stock Company (UPCoM: TTP) has just been fined more than 1 billion VND due to incorrect declaration leading to the lack of tax payable.
The General Department of Taxation has just issued Decision No. 2060/QD-TCT dated December 30, 2022 on the sanctioning of tax administrative violations against Tan Tien Plastic Packaging Joint Stock Company, headquartered in Tan Tien Industrial Park. Binh, TP. Ho Chi Minh.
Specifically, Tan Tien Plastic Packaging Joint Stock Company has committed an administrative violation that is false declaration leading to a lack of tax payable. Therefore, this company was imposed a penalty of 20% on the arrears tax amount, with the amount of 1,087 billion VND. The remedial measure is to force the payment of the missing tax amount into the state budget (more than 5.4 billion VND).
The company also has to pay a late tax payment of more than 700 million VND. The total amount of tax treatment is over VND 7.2 billion.
Tan Tien Plastics is an enterprise operating in the field of plastic packaging, with a charter capital of 150 billion VND – equivalent to 15 million listed shares. TTP shares traded for the first session on UPCoM on March 15, 2017 with a closing price of 65,800 dong.
In 9 months, TTP recorded a net revenue of VND 1,432.7 billion, up slightly compared to last year; profit after tax reached 30 billion dong, while the same period lost 16.5 billion dong.
Tan Tien Plastic Packaging’s total assets at the end of the third quarter of 2022 decreased slightly by 2% to VND 1,474 billion. In which, short-term assets reached 1,167 billion dong; holding-to-maturity investment increased by 10% to VND 419.3 billion, of which, investment in 12-month bonds at KIS Vietnam Securities Joint Stock Company had an interest rate of 6.3%/year. the rest is deposited in commercial banks with interest rates from 4.3% to 6%.
Inventories decreased by 13.6% to more than 310 billion dong. In terms of capital, TTP’s liabilities decreased from 525 billion VND to 480 billion VND.