Orient Oil, a company with a history of tax debt issues, owes more than 760 billion VND in tax debt. The Can Tho Tax Department reported that the company leads the tax debt list in Can Tho City, accounting for nearly 36% of the total tax debt. Established in 2010, Orient Oil is involved in producing and operating transit warehouses, store systems, and trading petroleum products, solvents, and chemicals.
Formerly headed by Mr. Nguyen Thanh Tung as Chairman of the Board of Directors, the company has faced challenges in repaying bank debt and has had to deal with legal issues related to its involvement in the Van Thinh Phat case. In previous years, Orient Oil accumulated debts due to failure to fulfill tax obligations and other financial difficulties.
The Can Tho Tax Department also announced that there are 162 other companies with outstanding tax obligations amounting to hundreds of billions. These financial struggles highlight the challenges faced by businesses in meeting their tax and debt obligations. Further actions may be necessary to address these issues and ensure compliance with financial regulations.
