Wednesday, October 21, 2020

Japanese firm probed for paying bribes to avoid paying taxes

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Vietnamese authorities are investigating Tenma Vietnam, a subsidiary of Japan’s plastic product maker Tenma Corporation, for alleged bribing some 232,000 U.S. dollars to avoid tax arrears, Vietnam News Agency reported on Tuesday.

Vietnamese Minister of Finance Dinh Tien Dung has requested an urgent investigation into the allegations, the news agency reported. “This was an important issue related to the business investment environment as well as prevention of corruption,” Dung told the press on the sidelines of the National Assembly meeting on Monday afternoon.

In a same move, the police of northern Bac Ninh province where the company based have requested the provincial taxation and customs departments to provide all documents for the investigation, daily newspaper Tien Phong (Pioneer) reported.

The case of Tenma Vietnam came into the spotlight when Japanese media reported that the Vietnamese subsidiary gave a bribe of 25 million yen (about 232,000 U.S. dollars) to Vietnamese customs officials to avoid some 418 billion Vietnamese dong (18.1 million U.S. dollars) in tax duties between June 2017 and August 2019.

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In a related development, Ngo Xuan Tong, Director of Bac Ninh Tax Department, told Tuoi Tre (Youth) newspaper that the allegation that tax officials received money from Tenma Vietnam was a unilateral report from Japanese media.

Further investigation is underway.

Tenma Vietnam was established in 2007 in northern Bac Ninh province with charter capital of 35 million U.S. dollars, fully contributed by the Japanese parent corporation, according to Vietnam News Agency. The company specializes in manufacturing and trading of plastic moulding components and plastic molds. Enditem

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