Vicostone penalized over 260 million VND for tax violations

Vicostone Joint Stock Company has been penalized and ordered to pay more than 260.9 million VND following a decision by the Hanoi Tax Department. The company was found to have made incorrect tax declarations that led to increased VAT refunds and shortages in corporate income tax payments for 2024.

The total amount includes over 69 million VND in administrative fines, approximately 163.6 million VND in back taxes, and nearly 28.3 million VND in late payment interest. Additionally, the company must reduce its deductible VAT carried forward by approximately 27.1 million VND.

In its reviewed semi-annual financial report for 2026, Vicostone reported net revenue of approximately 1,633.5 billion VND, a 23.5% decrease compared to the same period last year. Net profit after tax was recorded at over 253.6 billion VND, representing a 32.3% decline year-on-year.