Three tax officers protect 34 'ghost' companies to appropriate state money
Three tax officers in Ho Chi Minh City are found guilty of receiving more than VND10 billion ($427,000) in return for supporting 34 "ghost" companies to buy and sell value added tax (VAT) invoices.
Dao Thi Nga and Nguyen Phuong Nam, former officers of HCMC's District 1 tax department, and Ngo Huynh Luy, former officer of the District 5 tax department, received bribes, according to a conclusion of the Ministry of Public Security's investigative agency.
With the help of the trio, Luu Thi Ngat, 39, director of Khanh Hung Service Investment Company Ltd., sold VAT invoices to the intermediary companies of Trinh Tien Dung, who is now at large and wanted.
Dung's group then issued VAT invoices to Thuduc Housing Development Corporation (Thuduc House), with Nguyen Vu Bao Hoang as general director; Saigon Southwest Trading JSC; and Hoang Nam Anh Trading International Company Limited, helping them appropriate VND538 billion ($22.97 million) from the state.

Setting up "ghost" companies to trade VAT invoices is appropriation of state money. Photo courtesy of Eyewitness News.
According to the investigation, from 2016 to 2020, Dung took advantage of the government policy encouraging enterprises to export electronic components with a tax rate of 0% by directing many people to establish 34 "ghost" companies in Vietnam and abroad.
This group used 17 companies in Vietnam to issue invoices, legalizing inputs for electronic components purchased from the black market, then sold to businesses to create export records and get VAT refunds to appropriate state money.
Ngat told the investigative agency that she had founded 12 "ghost" companies. Knowing tax officers would inspect signs of tax fraud, Ngat and her accomplices bribed tax officials.
In early 2018, Ngat asked Dao Thi Nga to move the business registration addresses of two companies to Cau Ong Lanh ward, District 1, where Nga was assigned the task of tax management. According to their agreement, Ngat would pay Nga 0.2-0.3% of the total revenue associated with VAT invoices issued by the "ghost" companies.
In return, Nga would not propose her superiors inspect Ngat's companies or give advance notice of tax inspections and examinations, or give advance notice regarding any companies of Ngat that may be subject to coercive tax collection.
Similarly, with her companies and accomplices in districts 3 and 5, Ngat met Nguyen Phuong Nam and Ngo Huynh Luy to ask for "help", agreeing to share a percentage on invoice sales.
In July 2019, Nga found that two companies operated by Ngat recorded abnormally high sales, had signs of tax fraud, harbored risks of being inspected, and had been included on the automatic risk warning system, so she informed Ngat of the situation.
Ngat then carried out procedures to transfer the business registration addresses of both companies to Nam and Luy's areas to evade risks.
When the system discovered that six "ghost" companies of Ngat might be inspected, Nam informed Ngat so she could move them to another location.
Also during this time, the General Department of Customs and the Ho Chi Minh City Customs Department discovered the incident and requested the Tax Department of Ho Chi Minh City to provide information about five companies operated by Ngat.
When being prosecuted in the case related to Trinh Tien Dung and Thuduc House's fraudulent appropriation of state money, Ngat declared she had bribed tax officers.
During the investigation, Ngat said she "didn't remember how many times" she gave bribes to the three tax officials. She claimed she only remembered she had given Nga more than VND2.5 billion ($107,000), Luy about VND2 billion and Nam, VND6 billion.
However, Nga only admitted to receiving nearly VND800 million, while Luy claimed to have received nearly VND500 million.
As Ngat had confessed before being discovered, she was exempted from criminal responsibility for paying bribes.
Regarding the case, Thuduc House's general director Nguyen Vu Bao Hoang and 30 others were accused of fraudulent appropriation of state money; manufacturing counterfeit goods; smuggling; and illegally transporting currency across borders.
Trinh Tien Dung remains at large.
- Read More
Indonesia partners with Japan’s SMBC to boost exports
Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.
Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7
Netherlands to invest $300 mln in Indonesia
The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7
Singapore-based Jetstar Asia to cease operations from July 31
Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.
Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7
Indonesia aims to stop corn imports in 2026
Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.
Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7
Nickel extraction threatens archipelago tourism in Indonesia
A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.
Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7
Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam
Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.
Energy - Wed, June 11, 2025 | 5:49 pm GMT+7
Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards
Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.
Companies - Wed, June 11, 2025 | 5:22 pm GMT+7
Tech giant Qualcomm launches AI R&D center in Vietnam
Qualcomm on Tuesday launched an AI research & development (R&D) center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup, a leading Vietnamese conglomerate, earlier this year.
Industries - Wed, June 11, 2025 | 3:16 pm GMT+7
Vietnam seeks big investments in high tech, renewables, logistics: forum
Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.
Economy - Wed, June 11, 2025 | 3:05 pm GMT+7
Making home ownership accessible again: Nam Long ADC chairman
Following the success of delivering over 10,000 affordable homes (EHome) and social housing units (EHomeS) in southern Vietnam, Nam Long ADC – a member of Nam Long Group – is strategically expanding this pioneering model to the northern market. Steven Chu, chairman of Nam Long ADC, provides an insight into this strategic move.
Executive Talk - Wed, June 11, 2025 | 2:00 pm GMT+7
Vietnam, France sign energy, mineral cooperation deals
Vietnamese and French agencies signed two cooperation documents in energy and minerals in Paris on Tuesday (local time).
Economy - Wed, June 11, 2025 | 12:19 pm GMT+7
Spain willing to cooperate with Vietnam in high-speed railway development: Spanish PM
Spain, which boasts the world's second-longest high-speed railway system, is ready to cooperate and share expertise with Vietnam in this field, said Spanish Prime Minister Pedro Sanchez.
Infrastructure - Wed, June 11, 2025 | 11:02 am GMT+7
Vietnam's leading construction materials maker Viglacera projects 21% revenue hike in 2025
Viglacera, Vietnam's leading producer of building materials, targets VND14.44 trillion ($555.12 million) in revenue for 2025, up 21% from last year.
Companies - Wed, June 11, 2025 | 10:38 am GMT+7
Vietnam’s first LNG power plants to begin commercial operation this year
Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, are expected to begin commercial operations this year, according to a new ministerial decision.
Energy - Wed, June 11, 2025 | 10:00 am GMT+7
Europe-Asia Industry Cooperation Forum to take place in Hanoi today
The Vietnam's Association of Foreign Invested Enterprises (VAFIE), in association with F&H International Industry, will organize the Europe-Asia Industry Cooperation Forum in Hanoi today.
Economy - Wed, June 11, 2025 | 7:30 am GMT+7
Thailand's SCG Packaging becomes sole owner of Vietnam's leading plastics firm Duy Tan
SCG Packaging Public Company Limited (SCGP), a subsidiary of Thailand's multi-sector giant SCG, has acquired an additional 30% stake at Duy Tan JSC, becoming the sole owner of the leading producer of rigid plastic packaging products in Vietnam.
Companies - Tue, June 10, 2025 | 10:53 pm GMT+7