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NewsTan Chong Motor Vietnam unit to pay US$16.98m more in duties
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Tan Chong Motor Vietnam unit to pay US$16.98m more in duties
by Cals Thu 17 Oct 2013, 01:22
Published: Wednesday October 16, 2013 MYT 6:02:00 PM
Updated: Wednesday October 16, 2013 MYT 6:05:24 PM
Tan Chong Motor Vietnam unit to pay US$16.98m more in duties
KUALA LUMPUR: Tan Chong Motor Holdings Bhd’s Vietnam subsidiary has been directed to pay US$16.98mil as additional import duties for importing completely knocked-down (CKD) parts and kits from 2010 to 2012.
Tan Chong Motors said on Wednesday that the head of the Ha Noi Processing and Investment Customs branch stated Nissan Vietnam Co. Ltd had to pay the additional duties.
To recap, In its audited financial statement for the year ended Dec 31, 2012 and in its two unaudited quarterly financial statements of 2013, Tan Chong Motors had disclosed the Vietnam Customs viewed Nissan Vietnam was not entitled to preferential import tax rate for the importation of CKD parts and kits.
“Nissan Vietnam Co. Ltd has submitted its appeal against the decisions,” it said.
Updated: Wednesday October 16, 2013 MYT 6:05:24 PM
Tan Chong Motor Vietnam unit to pay US$16.98m more in duties
KUALA LUMPUR: Tan Chong Motor Holdings Bhd’s Vietnam subsidiary has been directed to pay US$16.98mil as additional import duties for importing completely knocked-down (CKD) parts and kits from 2010 to 2012.
Tan Chong Motors said on Wednesday that the head of the Ha Noi Processing and Investment Customs branch stated Nissan Vietnam Co. Ltd had to pay the additional duties.
To recap, In its audited financial statement for the year ended Dec 31, 2012 and in its two unaudited quarterly financial statements of 2013, Tan Chong Motors had disclosed the Vietnam Customs viewed Nissan Vietnam was not entitled to preferential import tax rate for the importation of CKD parts and kits.
“Nissan Vietnam Co. Ltd has submitted its appeal against the decisions,” it said.
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