The "auctions" of mutant orchids worth tens or hundreds of billion VND have been organized, causing public alarm.

The super-high prices for mutant orchids (VND250 and VND15 billion) listed at an auction in Quang Ninh province.

On the evening of March 21, in Sa Thay town, Sa Thay district, of the Central Highlands province of Kon Tum, an auction for mutant orchids was held, where one was sold for more than VND5 billion (nearly $250,000), equivalent to the price for a 1,000m2 villa in Mang Den ecological resort in Kon Tum. The value of mutant orchids traded at the auction reached around VND10 billion (nearly $500,000).

A person who attended the auction said: "There are groups of orchid collectors and traders. Mutant orchid buyers may fall into a trap at such auctions like this. Such a huge price for a mutant orchid is unbelievable. I just saw they offered such a price and made the deal, not the real transaction in cash."

Earlier, a mutant orchid was auctioned for up to VND250 billion (about $11 million) in Quang Ninh province. However, it is suspected that these transactions were fake.

The tax agency of Quang Ninh is waiting for the investigation conclusion of the local police to have a basis for collecting taxes from the VND250 billion mutant orchid transaction.

The tax body of Son La province has asked organizations and individuals that have transactions and trade in genetically modified orchids to register, declare and pay taxes.

The General Department of Taxation has also instructed local tax agencies to define whether these are real transactions to collect taxes.

Organizations and individuals who do not register, declare and pay taxes for transactions of mutant orchids will be handled under the current tax laws.

Ha Duy

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