Property developer chairman barred from leaving country due to unpaid tax

Trương Anh Tuấn, chairman of property developer Hoàng Quân, delivers a speech at the company's 2024 shareholders' meeting. — Photo courtesy of Hoàng Quân group

HCM CITY — Trương Anh Tuấn, the chairman of property developer Hoàng Quân, has been banned from leaving the country due to a tax debt of VNĐ6.1 billion (over US$240,000) owed by one of its subsidiaries.

The local tax department has mandated that the taxes must be paid in full before the chairman can resume international travel.

This is the second time this year he has faced such a ban for the same reason. A previous ban was imposed on another subsidiary, which was later lifted in June.

The company has not been available for immediate comment regarding the ban.

Hoàng Quân is known for its development of numerous social housing projects in southern Việt Nam. However, it has encountered financial challenges over the past eight years.

The company has announced it would partner with property developer Novaland to build 3,000 social housing units this year without disclosing any specific details regarding the completion of the social units.

The company has set a target of VNĐ2 trillion in revenue this year, an almost seven-fold jump from last year.

Previously, the chairman of hydroelectricity and renewable energy producer Trung Nam Group was prohibited from leaving the country due to the firm’s tax debt of VNĐ21 billion ($840,000).

Nearly 1,500 people were banned from leaving the country due to tax debts in the first half of this year, resulting in a total payment of VNĐ920 billion, according to a report from tax authorities. — VNS