Business

Big C to pay transfer tax bill in August

Central Group, the owner of the Big C retail chain, has committed to completing the payment of transfer tax this month, the Dien dan Doanh nghiep (Businesses' Forum) newspaper reported.
Big C to pay transfer tax bill in August ảnh 1Illustrative image (Source: http://www.vir.com.vn)

Hanoi (VNA) - Central Group, the owner of the Big C retail chain, has committed to completing the payment of transfer tax this month, the Dien dan Doanh nghiep (Businesses' Forum) newspaper reported.

The Thai retailer group has to date made payments totalling 500 billion VND (22.3 million USD) with the remainder of more than 1.53 trillion VND to be paid no later than August 31, the online newspaper cited a source from the General Department of Customs as saying.

The Big C chain was sold by its previous owner, France's Casino Group, to the Central Group for one billion EUR (1.14 billion USD) in April.

The Casino group has made significant investments for more than 18 years to develop its subsidiary Big C in Vietnam to create a leading food retailer in the country. Big C Vietnam consists of a network of 43 stores and 30 shopping malls and in 2015 achieved an after-tax turnover of 586 million EUR.-VNA

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