Tax Penalty Of 17 Billion VND: Thien Nam Group's Violations

Thien Nam Group (stock code TNA) has recently been fined and had nearly 17 billion VND in taxes retroactively collected by the Tax Department due to incorrect declarations and late tax payments in 2022 and 2023. Learn more about this case.

Thien Nam Group Faces Penalty And Tax Arrears Collection Of Nearly 17 Billion VND

Recently, the Tax Department issued a decision to impose an administrative tax penalty on Thiên Nam Import-Export Trading Joint Stock Company (stock code TNA) with a total amount of up to 16.79 billion VND. The main reason is the act of incorrect declaration leading to underpaid tax and non-underpaid tax in the two fiscal years 2022 and 2023.

Details Of Thien Nam Group’s Violations And Penalties

According to the decision from the Tax Department, Thien Nam Group committed serious violations during the tax declaration process. Notably, the act of incorrect declaration not leading to underpaid tax was also subject to an aggravating circumstance due to repeated offenses. Specifically, the penalty for these violations is over 2.6 billion VND, the majority of which (2.58 billion VND) is due to the act of incorrect declaration leading to underpaid corporate income tax.

In addition, Thien Nam Group must fully pay the outstanding tax amount of 12.9 billion VND, mainly corporate income tax for 2023 (over 12.8 billion VND). Furthermore, the company must also pay nearly 1.3 billion VND in late payment interest (calculated up to February 21, 2025).

In total, Thien Nam Group is subject to a penalty and tax arrears collection of nearly 16.8 billion VND. This penalty decision took effect from the date of signing.

Previous Financial Issues Of Thien Nam Group

Prior to this penalty, in 2024, Thien Nam Group was also subject to tax enforcement by the District 10 Tax Sub-Department, Ho Chi Minh City, due to overdue taxes exceeding 90 days, totaling over 411 million VND (including tax, penalties, and late payment interest). However, the company quickly rectified the situation and completed the tax payment on October 8, 2024.

Information About Thien Nam Import-Export Trading Joint Stock Company (Thien Nam Group)

Thien Nam Group was formerly known as the Import-Export Service Trading Company (Tenimex), under the People’s Committee of District 10, Ho Chi Minh City, established on December 3, 1994. On May 24, 2000, the company officially transformed into Thien Nam Import-Export Trading Joint Stock Company under Prime Minister’s Decision No. 58/2000/QD-TTg.

The main business activities of Thien Nam Group include:

• Trading in iron, steel, and welding materials
• Real estate business
• Education
• Food technology
• Trading in paper, wood, refrigerators, and electronic computers

Listing Journey And Current Situation Of TNA Stock

In July 2005, Thien Nam Group officially listed 1.3 million shares on the HOSE (Ho Chi Minh Stock Exchange) with the stock code TNA. To date, the company’s number of outstanding shares has increased to over 49 million shares.

However, currently, TNA stock is under suspension from trading according to the decision of the Hanoi Stock Exchange since November 29, 2024