"Vì thua lỗ nên sau hàng chục năm đầu tư vào VN, Coca Cola VN chỉ nộp thuế giá trị gia tăng (thực chất là do người tiêu dùng nộp), thuế môn bài, còn thuế thu nhập DN đến nay chưa thu được đồng nào. Nhưng nghịch lý ở chỗ dù thua lỗ, công ty này vẫn liên tục mở rộng sản xuất."
- Trích đăng
Dominant market share a drink in the Vietnamese market, sales rose vertically, but from investing in Vietnam to date market Coca Cola never played a corporate income tax by constantly opening hole.
By tricks that a "big" in the drinks sector despite the HCMC Tax Department listed firms (companies) are doubtful value still blatantly open hole?
Raise the price of raw materials
Ho Chi Minh City Tax Department said since its establishment (month 2-1994) far not in any Coca Cola VN open interest despite continuous increase revenue through each year. 2004 revenue of 728 billion, a loss of 110 billion dong. 2006 sales jumped to 1,026 billion, losses of up to 253 billion.
The latest in 2010, sales of Coca Cola Vietnam up to 2529 billion but costs up to 2717 billion, resulting in a loss of 188 billion dong. Until now the company had lost a total of 3768 billion, exceeding the initial investment of 2,950 billion.
Le Duy Minh, head of the tax inspection 1 Ho Chi Minh City Tax Department, said the "secret" to this DN can repeatedly declare hole located in the cost of raw materials, which are mainly perfume imported directly from the parent company at very high prices.
Average cost of raw materials accounts for over 70% of the capital, particularly in 2006-2007 the cost of raw materials up to 80-85% of the capital. As of 2010 the costs of imported raw materials from parent company up to 1,671 billion on sales of 2329 billion. Cost in 2009 was 1.065 billion.
Many times the HCMC Tax Department has worked with this company but also representative of Coca Cola Vietnam has declared answer is in full compliance with the law VN, also causes losses due to revenues not be sufficient to cover expenditures . The company can not sell at a higher price because they want to expand the market. The company also explain the high price of raw materials is long-standing patent, including the cost of the gray matter.
"It's been 6-7 years now Ho Chi Minh City Tax Bureau included Coca Cola Vietnam in the No. 1 position in the list of companies suspected signs of transfer pricing. Financial statements of the company are carefully scrutiny but proving this DN turn complex than many other businesses because there is no basis for comparison, compare the price of raw materials to other companies in the same industry training material for the parent company of Coca Cola VN exclusive offers. Just can not get the raw material costs of Vietnamese enterprises and industries to compare since this is the DN characteristics, "Ming said.
Business with the parent company's capital
According to the HCMC Tax Department representative, other abnormalities are other companies interest rate on private capital is positive but Coca Cola $ this ratio is always negative with a very large number. Through many years of losses so far, Coca Cola Vietnam has "negative" equity to 818 billion.
Because loss after decades of investment in Vietnam, Coca Cola $ just to pay value added tax (actually paid by consumers), excise tax, and corporate income tax so far not obtained any money . But the paradox is that despite losses, the company is continuously expanding production.
Even the end of the month 10-2012, president and chief executive of Coca-Cola, Mr. Muhtar Kent, U.S. and announced that Coca-Cola would pour more than $ 300 million in Vietnam in the next three years. What is the motivation for this company to continue to expand investment in Vietnam when such continuous loss?
Mr. Le Duy Minh City said compared to very small businesses beverage Chuong Duong along lines of $ 2011, although only the two products are soda water bottles and luxury, only 422 billion revenue but profits up to 30 billion
tax paid up to 7.5 billion budget. So can see the hole behind the number of Coca Cola might be huge profits annually flows to the parent company in the form of money to pay for materials. "Taxation HCM City People's Committee has issued a report and the Department of Planning and Investment (DPI) on the continuous losses of Coca Cola Vietnam, clearly stating the view that if an investment in U.S. companies that hole loss of the initial investment has a legal basis to exist in the U.S. or not but I have not received any written reply on this issue, "said Ming.
Due to continuous losses over the years, now Coca Cola VN operations mainly by borrowing capital. In which short-term loans from the parent company was 2,020 billion, the debt is only 343 billion. "So Coca Cola VN debt which is not in fact due mainly capital from the parent company poured into the subsidiary from a portion of the annual interest set of hidden form of payment for flavoring," said Ming said.
According to the HCM City Department of Taxation, the status of foreign-invested enterprises in Ho consecutive losses over the years, even if the losses exceed equity but expansion is unusual signs to evade tax obligations.
This approach of the company not only the loss of tax revenues in the country but also creates unfair competition between companies in the business, even dominated business partners.
But see signs of abnormality in DN is one thing, but the struggle to businesses recognize that transfer pricing is not easy. By making the transfer pricing, companies have to prepare a complete dossier, close documents, legal contracts worth ...
Data by the tax authorities is not the full truth. As in the case of Coca Cola Vietnam, wanted to have a basis for comparison must be evil magic of Coca Cola in Singapore or Thailand ...
Coca Cola VN say?
Talking with Tuoi Tre (via email) about the cause of constant losses of Coca Cola Vietnam, Mr. Nguyen Khoa America, this unit's director of external affairs, said that due to a series of causes.
According to Science, the emergence of competitors that Coca Cola Vietnam lost a significant amount of market share, the company must spend a significant cost for the marketing to promote and protect the brand. Prices of fuel, electricity and sugar prices rose, including the purchase of raw materials from foreign markets rather expensive product has made their prices. The company also increased the salaries of employees at least 11% per year to ... deal with inflation.
On the subjective side, Mr. Science know Coca Cola VN loans, high interest cost burden as well as the exchange rate risk for loans in USD. Investment expenditures on production lines has increased interest expenses, depreciation and cost differences in exchange rates.
> Coca Cola VN losses due to material purchased from foreign parent companies in high cost and public opinion doubt "signs". What do you say about this opinion?
- Coca Cola always adhere to the regulations on tax and finance in Vietnam through the audit results in recent years.
> Despite a persistent hole but why Coca Cola keeps pouring money into the investment to build new factories, expand market share, sir?
- Vietnam is an important growth market in Asia-Pacific in the course of our aims of Vision 2020. New financial investment not only brings significant investment to expand the business of Coca Cola to build leading position in Vietnam, but also a testament to our confidence in the long-term development prospects of VN.
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