Real estate giants the focus of specialised audits

September 13, 2023 | 16:01

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The General Department of Taxation (GDT) has unveiled a list of 42 companies marked for specialised audits this year, bringing several high-profile real estate firms under its lens. The move follows the department's recent Decision No.1326, delineating its audit strategy for the forthcoming year.

Real estate giants the focus of specialised audits

The eclectic list covers several industries, with the property sector featuring prominently. Real estate firms such as SonKim, Hai Phat Invest, Van Phuc, Khai Hoan Land, Bitexco, and Phu Dien are among the notable names under scrutiny.

The pharmaceutical and cosmetics sectors are also represented by the likes of Boston Vietnam, Duoc Hoa Linh Ltd., OPC, and Khuong Duy.

The construction industry is not excluded either, as Urban Construction, UNICONS, CIENCO4 Group, Hop Luc, FECON, and several others find themselves on the list as well.

Other prominent companies from different fields have also been flagged for impending audits, including Vinacafe Bien Hoa, Growmax Aquatic Feed, Vietnam Disinfection Company, Duy Tan Plastics, Ho Chi Minh City Lottery Company, Tan Son Nhat Airport Service, VTC Tiles, and Techcom Securities.

The procedure for the audit includes the inspection of documents at the tax office and the headquarters of the company under audit, ensuring a comprehensive assessment of their financial practices.

Real estate grapples with new focus

Real estate insiders are predicting a strong end to 2023 in terms of recovery in various segments, and launches are already underway, but this will occur in tandem with government moves to adjust currently tight regulations on real estate lending.