Petrolimex Saigon fined nearly VND 1bn for tax violations

Petrolimex Saigon Transportation and Service Joint Stock Company (PSC) has been fined VND 941,353,194 by the Ho Chi Minh City Tax Department for administrative tax violations. The decision, dated November 17, 2025, includes penalties for inaccurate tax declarations, underpaid taxes, and late payment interest.

The total amount comprises an administrative fine of VND 128,450,828 for incorrect declarations leading to underpaid VAT and corporate income tax. Additionally, the company is required to pay VND 642,254,142 in overdue taxes, split between VND 195,193,570 for VAT and VND 447,060,572 for corporate income tax.

Furthermore, Petrolimex Saigon must pay VND 170,648,224 in late payment interest, calculated up to November 10, 2025. The company is responsible for independently calculating and remitting any further late payment interest until the full amount of overdue taxes and fines is paid. The company has 10 days to comply with the decision.