Pharmedic fined for tax violations, owes VND 70m

Pharmedic Pharmaceutical Medicinal JSC (HNX:PMC) has been fined VND 9,162,105 for inaccuracies in its 2021 and 2022 tax declarations, resulting in underreported Value Added Tax (VAT) and Corporate Income Tax (CIT). The fine includes VND 2,185,683 for incorrect VAT declarations and VND 6,976,422 for incorrect CIT declarations.

In addition to the fine, Pharmedic is required to pay VND 45,810,525 in underpaid taxes to the state budget, comprising VND 10,928,417 for VAT and VND 34,882,108 for CIT. Furthermore, an interest charge of VND 15,081,678 on late tax payments has been levied, with VND 3,730,160 for VAT and VND 11,351,518 for CIT.

The total financial obligation, encompassing fines, underpaid taxes, and late payment interest, amounts to VND 70,054,308. Pharmedic is mandated to remit these amounts to Account No. 7111.1056137 at State Treasury Area II, located at 37 Nguyen Hue, Sai Gon Ward, Ho Chi Minh City, within 10 days of receiving the decision.