The Italian management unit that earns trillions still owes tens of billions in state taxes, balancing cash flow unreasonably

Amid the noise about the "pet chicken" Y Nhi, the queen's management unit continues to be found to owe the state tens of billions in taxes, the reason may be unreasonable revenue and expenditure, balancing cash flow.

Miss Huynh Tran Y Nhi recently, can be said to be the most called name on social networking forums. The beauty became the focus of harsh criticism and stones from netizen, when she made statements that were commented as "going underground", thoughtless and not in accordance with the standards of a beauty queen. The story goes further and further, as many departments have also begun to step in, even Y Nhi is in danger of being stripped of the crown.

The noise of Y Nhi also has a significant impact on the management unit of the queen, who is also the organizer of the contest that the beauty crowned, which is Miss World Vietnam 2023. Golden Lotus - the name of the management unit Y Nhi is also one of the units with full experience in organizing beauty contests and managing beauties. Therefore, this drama broke out, causing the Golden Lotus to be seriously discredited, many doubts about the criteria for choosing a problematic miss of the organizers were also questioned.

Every year, the Golden Lotus on average will hold 2-3 beauty pageants, besides the winner, the unit also signs a contract with a series of runners-up. After many years of doing business in this field, this unit has gradually risen to the top of the monopoly, dominating that no other unit seems to be able to easily surpass. Business issues, profit figures are also something that the audience is extremely interested in and scrutinized.

Most recently, on the afternoon of August 9, reporting on Industry and Trade newspaper, netizens were stunned, before a series of information about the profits and tax debts of "Aunt Dung" - CEO of Golden Lotus over the past 2 years. Despite having experience and doing business like a "kite meets the wind", netizens were really surprised to know that the "miss tycoon" still owed tens of billions of VND in state taxes.

Specifically, in the past two years, although the Golden Lotus family has been doing business quite stably and profitably, it still has to carry large debts, when total debt accounts for 71% of assets. Specifically, by the end of fiscal year 2022, Lotus Gold's total assets were VND 370 billion, of which liabilities amounted to VND 263 billion, nearly 2.5 times higher than equity of VND 106 billion. In the previous reporting period, the total assets of the Golden Lotus House were VND 290 billion, of which liabilities were VND 211 billion, up to 2.67 times the equity of VND 79 billion.

It is worth noting that although the profit after tax of 2022 is up to VND 20 billion, at the end of fiscal year 2022, this unit recorded a State tax debt of up to VND 15.8 billion, debt to employees of VND 2.2 billion; In the previous period, profit after tax was VND 15.89 billion, tax debt was recorded at VND 10.7 billion, employee debt was VND 1.1 billion.

According to financial reports, in 2021, the revenue of the Golden Lotus House is VND 403 billion, the recorded cash flow is equivalent to more than VND 187 billion. In 2022, although revenue soared to VND 672 billion, the Golden Lotus House has only collected about VND 580 billion / accounts payable is more than VND 594 billion, leading to negative cash flow of VND 14.3 billion. At the end of fiscal year 2022, Lotus Gold's cash and cash equivalents were just over VND 6.6 billion. This figure at the end of 2021 was only VND 3.6 billion. The reason for this may be because the Golden Lotus has unreasonable revenue and expenditure, not balancing cash flow.

The above information surprised the public, but it can still be understood that this is a very normal thing in business. Moreover, the Golden Lotus side is only a debt and still pays enough to the State, without violating or affecting business matters. It can be seen that the "miss tycoon" is still "steering" very well, maintaining its leading position in the field of communication in our country.

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