- Samsung Ho Chi Minh City has not received VAT refunds of $22.9 million, affecting business operations.
- SEHC was established in 2016 in the Saigon Hi-Tech Park with 5,200 employees.
- The company manufactures household electronics and had a revenue of $4.9 billion in 2024.
- SEHC aims for $5.6 billion in revenue in 2024, with 95 percent from exports.
- SEHC became an export processing enterprise in May 2021 but has not received VAT refunds from June 2021 to September 2024.
- Discussions with tax authorities have not resolved the issue after three years.
- Other businesses also face delays in VAT refunds, affecting price competition.
- The Ministry of Finance issued Decision 422 to address VAT refund issues.
- Tax authorities are reviewing businesses to prevent exploitation of VAT refund policies.
- Samsung Vietnam operates multiple facilities with significant revenue and export contributions.
Source: tuoitrenews.vn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
