FLC forced to pay $3.3M overdue taxes

By Tat Dat October 16, 2023 | 02:00 am PT

FLC Grand Hotel Quy Nhon in Binh Dinh Province. Photo courtesy of FLC

The Hanoi Tax Department will reach into 19 bank accounts of property developer FLC to collect overdue taxes worth VND81.6 billion ($3.34 million.)

The taxes, which comprise mostly of corporate income tax, personal income tax and fines for delayed payment, have been overdue for more than 90 days.

In August last year FLC was also forced to pay VND83.5 million in overdue taxes and fines.

FLC, a developer of resorts and golf courses, has fallen into difficulties ever since its then-chairman Trinh Van Quyet was arrested in March last year for stock manipulation.

The company has not released its financial reports since the last quarter of 2022 and has recently been fined VND92.5 million for the delay.

FLC said that it has yet to come to an agreement with the auditor on the reports.

Its shares have been delisted on the Ho Chi Minh Stock Exchange.