Prosecution of Asanzo Chairman Pham Van Tam

On June 23, Mr. Tam, 44 years old, Chairman of the Board of Directors of Asanzo Group Joint Stock Company; and Pham Xuan Tinh (legal representative, Director of the company) were prosecuted by Ho Chi Minh City Police, released on bail, and investigated for tax evasion..

The investigation agency determined that Mr. Tam directed Tinh to sign contracts in principle with Viet Tai Trading Investment Company Limited, An Thien, and Tran Thoan Import-Export Investment Company Limited, but did not issue invoices and left out the accounting books related to sales revenue.

Next, Asanzo Group Corporation used illegal invoices to account for goods and input materials in activities that generate tax obligations. This behavior was accused of "aiming to evade tax payments" of more than VND 15.7 billion.

Mr. Tam is the founder and General Director of Asanzo Group Corporation - a famous enterprise operating mainly in the field of manufacturing electronic components.

In October 2019, the Ho Chi Minh City Tax Department fined and collected a total of 68 billion VND from Asanzo Company. Of which, the amount of under-declared and evaded taxes was nearly 40.6 billion VND (including VAT, special consumption tax, corporate income tax, personal income tax; late tax payment of 1.6 billion VND). The case file was also transferred to the police to investigate signs of criminal violations.

In addition, Asanzo was also fined with the aggravating circumstance of evading and concealing the violation after the violation, so the main fine is 26.3 billion VND. This includes a fine for false declaration of 4.9 billion VND, a fine of 1.5 times the fine for not issuing invoices of 6.3 billion VND, and a fine of 1.5 times the special consumption tax of nearly 14.7 billion VND.

Responding to reporters at that time, Asanzo Chairman Pham Van Tam said the company was appealing some items in the tax authority's report, as well as considering suing the above decisions.