On the afternoon of January 4, the Government Inspectorate announced the conclusion of the inspection of the observance of policies and laws in the state management of petroleum.
The conclusion was announced by Deputy Government Inspector General Le Sy Bay signed and said that this agency transferred many case files to the Ministry of Public Security for consideration and handling according to legal regulations for 3 cases.
One In 3 cases, there is a violation of the law in declaring and paying environmental protection tax on gasoline and oil; The use of the Price Stabilization Fund for the wrong purpose of price stabilization at Hai Ha Water Transport Company Limited”.
Trillion billion in environmental protection tax debt, leaders asked to postpone exit
As of December 31, 2022, taxes and payables to the State of Hai Ha Water Transport Company Limited reached 1,375 billion VND, including 1,141 billion VND in taxes Environmental protection and other taxes. Next are payable value added tax (163 billion VND), special consumption tax (37 4 billion VND) and import and export tax (34 billion VND).
In 2023, Hai Ha Petro was continuously named in the list of tax debts provided by the Tax Department of Thai Binh province.
Latest at the end of October 2023, the Tax Department of Thai Binh province announced Declaring information about 107 taxpayers who still owe taxes and other revenues belonging to the State budget with an amount of VND 2,199 billion (as of September 30, 2023). link-id=”6132363afb044100119a1455″ data-content-name=”article-content-autolink” data-content-piece=”article-content-autolink_6132363afb044100119a1455″ data-content-target=”https://dantri.com.vn/ Kinh-doanh/doanh-nghiep.htm” data-track-content=”” href=”https://dantri.com.vn/lanh-doanh/doanh-nghiep.htm”>enterprise has a number largest debt with a total debt of over 1,781 billion VND.
So compared to the end of 2022, Hai Ha Petro’s tax debt not only did not decrease but also increased by 406 billion VND, equivalent to 29.5%.
Notably, Hai Ha Petro was “named” for tax debt not long after the Tax Department of Thai Binh province sent a notice to the Immigration Department – Ministry of Public Security about the proposed postponement. exit for Ms. Tran Tuyet Mai, the legal representative of Hai Ha Petro.
The reason for postponing exit is because this enterprise is in a case of being forced to execute an administrative decision. Regarding tax administration, tax payment obligations have not been fulfilled. The temporary exit period is from August 30, 2023 until Hai Ha Petro completes its tax obligations.
< h4>Constant loss of capital of more than 4,100 billion VND
Hai Ha Water Transport Company Limited was established on September 8, 2003 at house number 132 residential group No. 6 Diem Dien Town, Thai Thuy District, Thai Binh Province with representative Ms. Tran Tuyet Mai.
After many capital increases since September 28, 2022, the company’s charter capital reached more than 454 billion VND. Shareholder structure includes: Mr. To Van Tho (owns 19 3%) Ms. Tran Tuyet Mai (owns 47 8%) Ms. Tran Thi Thu Hang (owns 21 3%) Mr. Tran Van Chin (owns 21 3%) 9 7%) and Mr. Nguyen Manh Linh (owns 1 9%).
Up to June 16, 2023, Hai Ha Petro’s charter capital will be maintained but the shareholder structure will change sharply Tuyet Mai increased her ownership rate to 69%, Ms. Tran Thi Thu Hang and Mr. Tran Van Chin kept their shareholding rates unchanged at 21 3% and 9 7%.
Also from mid-June/ 2023, Ms. Tran Tuyet Mai replaces Mr. To Van Tho to become Chairman of the Board of Members and legal representative of the company.
Hai Ha Petro is one of the “big men” in the petroleum industry. of Thai Binh province. However, the company noted a paradox: the higher the revenue, the heavier the losses.
Specifically, Hai Ha Petro’s 2022 revenue from sales and service provision is up to 31,643 billion VND, an increase 9,388 billion VND, equivalent to 42 2% compared to 2021. Revenue is large but cost of goods sold is larger, so in 2022 Hai Ha Petro recorded a gross loss of 973 billion VND, a sharp increase compared to the figure of 18 4 billion VND of 2021.
Meanwhile, costs increased dramatically. Costs finance increased from 196 billion VND to 523 billion VND. Selling expenses increased from nearly 194 billion VND to 666 billion VND. Corporate management costs increased from 27 2 billion VND to 364 billion VND.
As a result, in 2022 Hai Ha Petro recorded an increase in after-tax loss from 155 billion VND to 2,574 billion VND.
As of December 31, December 2022 Hai Ha Petro saw accumulated losses reaching 4,577 billion VND, an increase of 2,574 billion VND, equivalent to 129% compared to the end of 2021. As a result, the company has negative equity of 4,122 billion VND.
Because of negative equity, Hai Ha Petro fell into a situation where debt was significantly higher than total assets. Specifically, as of December 31, 2022, Hai Ha Petro’s liabilities amounted to 17,142 billion VND, an increase of 3,982 billion VND, equivalent to 30.3% compared to the end of 2021; 1-3 times higher than the company’s total assets.
In liabilities, besides tax debt, some notable debts can be mentioned such as short-term payables to sellers (VND 8,940 billion). Other short-term payments (2,356 billion VND) short-term financial lease loans and debts (2,133 billion VND) short-term advance payments from buyers (1,501 billion VND)… Price Stabilization Fund is 561 billion VND, an increase compared to 362 billion VND of 2021.
Negative capital and tax debt, still investing stock
Hai Ha Petro is one of the petroleum industry enterprises pouring hundreds of billion VND in stocks despite negative capital and tax debt.
Specifically, as of December 31, 2022, long-term financial investment in Hai Ha reached more than 504 billion VND. Among them, the acquisition of Central Pharmaceutical Joint Stock Company I – Pharbaco (stock code: PBC) is the most notable deal.
This deal was carried out in 2020 when Hai Phong Ha Petro had a negative loss on equity (1,470 billion VND) and tax debt (1,463 billion VND).
While core activities suffered losses, Hai Ha Petro’s financial investment activities also seemed to go backwards when PBC shares fell very deeply. Closing the January 4 session, PBC shares stopped at 8,900 VND/share, down 4,600 VND, equivalent to 51.7% compared to the last session of 2022.
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