Hoa Sen Group (HSG) has received a decision from the Ho Chi Minh City tax office imposing an administrative fine for tax violations. During an inspection period from 2021 to 2022, the company was found to have reported incorrect expenses not in accordance with regulations, leading to inflated taxable income. They face a fine of 201.2 million VND and must pay an additional corporate income tax of over 1 billion VND, alongside late payment penalties nearing 306.9 million VND, totaling over 1.5 billion VND. The company is also required to adjust its losses downward by more than 2.1 billion VND. Additionally, Mr. Nguyen Van Luân, an independent board member of Hoa Sen Group, successfully sold 100,000 HSG shares, reducing his ownership from 0.028% to 0.012%, and made an estimated 1.7 billion VND from this transaction.
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