TIẾNG VIỆT Heineken Vietnam fulfills $39.7 million tax obligations
Heineken makes full payment of the back tax. Photo: Adweek/Courtesy
Heineken Vietnam Brewery has fully paid $39.7 million taxes and fines following the request of the General Department of Taxation related to the 2018 capital transfer deal of Heineken Hanoi, which have been reported in the media.
Heineken Asia Pacific had struck a deal valued of over $207.7 million with the Heineken Vietnam Brewery. Under the deal, the firm transferred its entire stake in its Vietnamese subsidiary to the latter.
Despite making full payment in line with the tax assessment, Singapore-based Heineken Asia Pacific rejects the basis on which this assessment was issued, citing terms of the Vietnam - Singapore Double Taxation Treaty.
Earlier, General Department of Taxation asked the company to proceed the tax obligation for deal since the value of real estate on the total transferred deal is higher than 50%, which is under the provisions of the Agreement on the avoidance of double taxation between Vietnam – Singapore.
Therefore, Heineken is obligated to pay the above tax amount in Vietnam.
In the statement, the beer maker is committed to conduct business with integrity and with respect for the laws and regulations of Vietnam where it operates.
