The decision of penalty was issued after an inspection conducted by the country’s tax authorities for the fiscal years ended 30th June 2019, 30th June 2020 and 30th June 2021.
Donaco operates two border casinos, one in Cambodia – Star Vegas, and one in Vietnam – Aristo International Hotel. The Cambodia casino borders Thailand while the Vietnam casino borders China.
In order to finance the possible payment, Lee Bug Huy, the firm’s CEO, has provided a letter of financial support to Donaco which states that he will ‘continue to finance the operations of the Group’- including the tax payment – if it’s unable to settle the payment ‘when it falls due’. The financial support is for a minimum period of 12 months, until at least 28th February, 2024.
