Investigators from the Ministry of Public Security on March 16 suggested the country's top prosecutors press charges against three people, including company heads, for faking transactions to gain tax refund.
Among them were Vu Van Thoi, 47, former director of two construction firms in Ho Chi Minh City, Huynh Thi Ngoc Thanh, 45, another former company head from the neighboring Binh Duong Province, and Huynh Bich Hang, a 31-year-old resident from the Mekong Delta province of Ben Tre.
Thoi set up his firms in 2004 but the company didn't do perform the business functions he had registered it for. He sold 433 fake invoices to 186 firms until May 2006 to help the company earn illegal tax refunds, investigators said. The invoices were valued at more than VND121 billion (US$6.47 million), including more than VND8.1 billion ($433,500) worth of VAT tax.
Thoi is accused of making the moves with the support of Thanh, Hang and several others. The fake transactions earned three of them more than VND1.2 billion in total and Thoi alone more than VND821 million ($42,900).