Bao Van Joint Stock Company (Vietnam)

Starting as a Limited liability company that was established in 1993, Bavico Jsc now operates in the form of a Joint stock company specializing in the production and supply of PET products (preforms, bottles, caps). According to an employee, the subject's transactions mainly took place in the domestic market. In addition, the subject has exported PET preforms to the US market.According to our sources, on April 26, 2023, the subject received the decision to enforce the administrative decision on tax administration by deducting money from the account/ request to block the account of the subject of enforcement at Viet Nam Joint Stock Commercial Bank For Industry And Trade - Binh Duong Branch to enforce the Notice of Tax Debt No. 7744/TB-CTBDU-KDT dated April 17, 2023 of the Tax Department of Binh Duong Province with the amount owed, fines and late payment interest more than 90 days from the tax payment deadline is VND 2,383,529,966. Then, on May 31, 2023, the company continued to receive a decision to enforce the administrative decision on tax administration by stopping the use of invoices. On June 15, 2023, the Tax Department of Binh Duong Province issued a decision on the termination of the above decision on enforcement of the administrative decision on tax administration by stopping the use of invoices. These events show certain difficulties in paying short-term debts of this company.