VietABank Fined and Taxed Nearly 4.2 Billion VND

Vietnam Asia Commercial Joint Stock Bank (VietABank) has recently been fined by the Tax Department for violations of tax law. Specifically, VietABank reported inaccuracies, leading to an underpayment of taxes, and was fined 20% on the amount of taxes due, with a total fine of over 614.4 million VND. Additionally, the bank was fined 35.1 million VND for incorrect declarations that did not lead to tax deficiencies. VietABank is required to pay the outstanding taxes of over 3.07 billion VND, including nearly 396 million VND in value-added tax for 2023 and over 2.67 billion VND in personal income tax for 2022 and 2023. Furthermore, the bank was fined over 475.8 million VND for late payments. The total amount of tax and fines imposed on VietABank amounts to nearly 4.2 billion VND.