ThuDuc House wins 365 billion VAT lawsuit, stock price increases sharply

(NLDO)- Thuduc House shares hit the ceiling after the court announced victory in the case related to VAT refund of 365 billion VND and late payment interest.

According to information from Thu Duc House Development Joint Stock Company (ThuDuc House, stock code TDH), the appeal hearing on September 23, 2025 to try the administrative case "Complaint about administrative decisions" between this enterprise and the Ho Chi Minh City Tax Department (now the Tax Department of Region II) and the leadership of this agency has ended.

The panel of judges of the Supreme People's Court in Ho Chi Minh City rejected all appeals of the Tax Department of Region II and the Head of the Tax Department of Region II, and upheld the first instance judgment No. 133/2025/HCST dated April 24, 2025.

According to the ruling, the Court has annulled administrative decisions related to the VAT refund of VND365 billion and the late payment interest of VND74.7 billion, as of December 25, 2020. Derivative decisions from there, including stopping the use of invoices and stopping customs procedures for import and export goods of ThuDuc House, were also annulled.

Thus, both the first instance and appellate judgments affirmed that ThuDuc House's legitimate rights and interests are not related and it is not responsible for the tax refund amount and related late payment interest.

Thuduc House brand

ThuDuc House representative said that this ruling not only protects the legitimate rights of businesses, but also establishes a clear legal basis, contributing to removing administrative barriers that have caused many difficulties in the past.

The company emphasized that with this ruling, ThuDuc House can remove the remaining restrictions and open up opportunities to recover business operations. “The Court’s ruling helps us to resolve long-standing problems, and at the same time creates motivation for ThuDuc House to gradually recover and develop stably in the coming time,” said a company representative.

ThuDuc House's financial report for the second quarter of 2025 recorded a profit after tax of VND 13.2 billion, much better than the loss of VND 26 billion in the same period. This is also the second consecutive quarter that the company reported a profit after comprehensive restructuring. Previously, in the first quarter of 2025, ThuDuc House recorded a profit after tax of VND 5.7 billion.

In the first 6 months of 2025, ThuDuc House achieved consolidated revenue of nearly 26 billion VND and after-tax profit of 19 billion VND. While in the same period last year, it lost 32 billion VND.

This is the reason why TDH shares of Thuduc House increased by the ceiling price of nearly 7% in the session on September 24, to 5,120 VND/share with nearly 1.2 million shares bought at the ceiling price.

Source: https://nld.com.vn/mot-doanh-nghiep-bat-dong-san-thang-kien-co-quan-thue-196250924130717958.htm