Chairman of Asanzo company convicted and sentenced to serve 4.5 years in prison for engaging in illegal smuggling activities and evading taxes.
In a high-profile court case that has captivated public attention since allegations first surfaced in 2019, the chairman of Asanzo Group, Pham Van Tam, has been sentenced to four years and six months in prison and fined VND 2 billion (US$82,000). His younger brother, Pham Xuan Tinh, CEO of Asanzo, was sentenced to two years and six months in prison for tax evasion.
The trial, which marked the conclusion of the case, took place in HCM City on September 17. Both Pham Van Tam and Pham Xuan Tinh admitted to the charges in court and had voluntarily repaid the entire amount of illicit gains before the trial.
According to the court ruling, Asanzo evaded over VND 15.7 billion in taxes between 2017 and mid-2019, including VND 4.1 billion in value-added tax (VAT) and VND 11.5 billion in special consumption tax. The case was transferred to police after the HCM City Tax Department initiated an investigation in October, 2019.
Asanzo was identified as the main perpetrator of tax evasion and smuggling before its conviction. The company, which aimed to provide affordable electronics to lower-income consumers, was reportedly found guilty of smuggling imported goods and failing to issue invoices or declare taxes on assembled products sold domestically.
One of the key incidents that led to the investigation was a shipment worth over VND 414 million, consisting of fully assembled, brand-new products that were denied customs clearance and referred to law enforcement. Pham Van Tam was also convicted for smuggling 1,300 glass ovens from China, falsely declared as spare parts worth VND 212 million.
Asanzo reportedly purchased components from domestic firms, outsourced manufacturing, and assembled air conditioners without issuing tax invoices or recording sales in official accounts. The company had previously repaid the tax debts in full in March 2020, following the initiation of the investigation.
In his final statement, Pham Van Tam expressed remorse and acknowledged the errors in tax compliance. He hoped to return home soon to continue contributing to society. The court ruling on Pham Van Tam and Pham Xuan Tinh did not change their combined prison sentence and fine from the earlier bullet points.
Read also:
- Potential Consequences of Dismantling FEMA Vary Across States
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
- Wind Farm Controversy on the Boundary of Laois and Kilkenny
- Puerto Rico's Climate Lawfare Campaign experiences another setback with the dismissal of its deals.
