Recently, Binh Minh Plastics Joint Stock Company (HoSE: BMP) announced that it had received a decision to impose a fine and collect additional taxes from the General Department of Taxation. The reasons for the fine include: A fine of VND 1.2 billion due to incorrect declaration leading to a shortage of tax payable; a fine of VND 121 million due to incorrect declaration leading to a shortage of VAT payable.
To remedy the situation, the General Department of Taxation will collect from Binh Minh Plastics an amount of unpaid tax of VND 4.2 billion in 2020, VND 663 million in 2021 and VND 1.22 billion in 2022. The total amount of tax collected is VND 4.2 billion. In addition, BMP must also pay a fine of VND 1.3 billion for late tax payment.
Binh Minh Plastics Joint Stock Company (BMP) was fined and had to pay nearly 9 billion VND in taxes, revenue decreased by 4% compared to the first half of 2023 (Photo TL)
The total amount of tax arrears, fines and late payment penalties that Binh Minh Plastics must pay according to the decision of the General Department of Taxation is nearly 9 billion VND.
Regarding business performance, in the first 6 months of 2023, Binh Minh Plastics Joint Stock Company recorded net revenue of VND 2,776.4 billion, down nearly 4% over the same period. Of which, cost of goods sold accounted for VND 1,649.1 billion, gross profit reached VND 1,127.3 billion.
Financial revenue in the period reached 57 billion, more than double compared to the same period. Financial expenses still account for 77.3 billion VND, interest currently accounts for only 19 million VND.
Selling expenses increased sharply from 254.6 billion to 333.6 billion VND. Business management expenses decreased from 61.9 billion to only 54.9 billion VND. After deducting all expenses and taxes, Binh Minh Plastics' after-tax profit was 575.4 billion VND, double that of the same period.
By the end of the second quarter of 2023, Binh Minh Plastics' total assets reached VND 3,526.3 billion. Of which, liabilities accounted for only VND 770.2 billion, while equity accounted for VND 2,756.2 billion. Undistributed profit after tax currently accounts for VND 733.7 billion.
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