Kido fined and tax arrears of over 3.7 billion VND

Kido Group Joint Stock Company (code: KDC) was recently fined by the Tax Department for over 3.7 billion VND due to administrative violations, including a 528.1 million VND fine for incorrect declarations, over 2.6 billion VND in tax arrears, and 502.3 million VND in late payment fees. They must also reduce business losses by over 5.9 billion VND and VAT deductions by nearly 7.9 million VND for 2024. Additionally, Kido is proceeding to transfer 49% of its shares in Kido Frozen Food Company (KDF) to Nutifood and is canceling brand transfer contracts for trademarks like Merino and Celano to reclaim ownership for KDF. This move is part of Kido’s restructuring plan and aims to facilitate Nutifood’s acquisition, as they already own a 51% stake in KDF.