Vietnam’s Dương Đông Group Faces Findings of Fuel Accounting Irregularities and Tax Issues
Vietnam’s Government Inspectorate released findings on October 28 concerning Dương Đông Group’s fuel business. Its accounts showed a negative inventory of about 123 million liters as of March 31, 2026. The findings also cited suspected illegal fuel transactions, environmental protection tax declarations involving about VND 720 billion, and inventory and reserve violations.
Vietnam’s Government Inspectorate issued its inspection findings on the fuel business of Dương Đông Group JSC on October 28, 2026. The findings said the company was suspected of buying and selling fuel whose origin could not be substantiated by invoices or other documents, and showed signs of accounting violations. Checks of 16 fuel depots and the company’s inventory software showed that its head office recorded a negative fuel inventory of about 123 million liters as of March 31, 2026.
The volumes of fuel purchases and sales recorded in the company’s financial statements exceeded those shown in the invoice lists and customs declarations used for tax filings by about 21 million liters and 102 million liters, respectively. The amount involved was about VND 2.078 trillion. The inspection findings also said that, from 2022 to March 2026, the company declared fuel transactions with businesses suspected of using unlawful invoices and documents.
Image provided by Dương Đông Group JSC.（VietVance）
On taxes, the company, its subsidiaries and its branches incorrectly declared who was liable for environmental protection tax from 2022 to March 2026, involving about VND 720 billion. Of that amount, about VND 140 billion was considered unlikely to be paid into the state budget. The findings also concluded that related-party transactions led the company to underdeclare financial income by about VND 243.058 billion, corresponding to a corporate income tax shortfall of about VND 48.612 billion.
Inventory records showed that, in March 2026, 15 of the 19 entities examined had daily gasoline stocks exceeding 150% of their average inventory over the preceding three consecutive months; some exceeded 500%. The findings also said that, in each of the 51 months from 2022 through March 2026, the company’s RON 95-III gasoline and diesel reserves fell below the required minimum on at least one day. Founded in 2006, the company’s main business is importing, distributing and retailing fuel.
Source: VietVance
