Imexpharm Pharmaceutical Joint Stock Company (IMEXPHARM) has disclosed conclusion of tax inspections in 04 years (2005-2008) as follows:
* Payables of corporative tax income in 04 years increase VND7,679,613,298. However, IMEXPHARM adjusted accounting books and financial statements on audit figures of 2005 and 2006: VND2,456,944,348. Therefore, increasing tax in comparison with books just is VND5,222,668,950 in 2005-2008.
* The tax increased VND5,222,668,950 because there was not underlying tax rate in commercial activities (28%) and IMEXPHARM had to redefine promotion expenses, meeting expenses which were controlled 10% on reasonable expenses to define corporate tax.
* Applying the Law and regulations on business activities can be understood in the other ways. Therefore, the tax figures were changed on the last decision of the tax office. Beside, in the report of profit distribution to the annual shareholders’ meeting in from 2005 to 2007, shareholders approved if there is a tax difference, IMEXPHARM will use investment and development fund to compensate the difference.
* The company confirms the increasing tax will not affect the 2009 business activities.