Posted on 05 Sep 2016
Hai said at Wednesday's conference of the General Department of Taxation that the tax refund for Hung Nghiep Formosa Ha Tinh Steel Company was compliant with the Law on Value Added Tax.
Since the company started investing in Ha Tinh Province in 2009, Formosa has received a total of VND14.6 trillion in tax refunds, more than VND10.6 trillion of which were refunded for taxes Formosa had already paid for its imported equipment and materials.
The remainder of the refund was for value added taxes that Formosa's local contractors had paid.
The Taiwan-invested steel project, worth nearly $10 billion in investment, has already paid $500 million in compensation for causing sea pollution off four central provinces of Viet Nam that caused mass fish deaths in April, said Minister of Natural Resources and Environment Tran Hong Ha, on August 30.
