Hanoi Reinsurance faces significant VND1.3bn tax penalty

Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) announced on August 25, 2025, that it received a decision from the Large Enterprise Tax Department concerning an administrative tax penalty. The company was fined VND 200,565,699 for inaccurately declaring tax bases, which led to a shortfall in payable tax. This fine includes VND 20,770,688 for Value Added Tax (VAT) and VND 179,795,011 for Corporate Income Tax (CIT).

In addition to the fine, Hanoi Re is obligated to pay VND 954,171,834 in underpaid taxes to the State Budget, comprising VND 55,196,780 in VAT and VND 898,975,054 in CIT. The company must also remit VND 151,747,828 for late payment interest on taxes, with VND 21,216,650 attributed to VAT and VND 130,531,178 to CIT.

The total amount Hanoi Re must pay, including the penalty, underpaid taxes, and late payment interest, sums to VND 1,306,485,361. The general director, Trinh Anh Tuan, is responsible for executing this decision. The company has 10 days from receipt to comply and has the right to appeal the decision.