05
Sep
09:14
Formosa Vietnam tax refunds exceed fish fine
The Formosa Ha Tinh steelworks project in northern Vietnam has reportedly paid in full the $500 million fine for polluting the sea around the plant and causing a major environmental event. It also emerged, however, that the company has claimed back taxes well in excess of this figure, Kallanish notes.
The company has received around VND 14.6 trillion ($660 million) in tax refunds since beginning the project in 2009. The refunds were fully compliant wit…
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Very good overview of the weekly steel market.
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