TAX RESCHEDULING PROPOSED TO SUPPORT LOCAL AUTOMOBILE INDUSTRY
The Ministry of Finance (MoF) has proposed rescheduling excise tax payments for local automobile manufactures and assemblers. The draft decree recommends that payments over VNĐ4.4 trillion (US$191 million) for October and November be delayed until late December.
2021'S PROFIT OUTLOOK MOSTLY REFLECTED IN STOCK PRICES: FIINGROUP
Statistics from Fiin Trade showed that as of November 7, a total of 897 enterprises and banks, accounting for 94.5 per cent of market capitalisation, officially released or have announced business results for the third quarter.
STOCKS MAKE STRONG GAINS
At the close, the main index jumped by 13.49 points over the day earlier, at 1,452.46, with the number of gainers doubling that of losers by 302 to 151. Trading volume and value on bourse slid 11% and 14% against the previous session, at over one billion shares and VND28.8 trillion, respectively. There were over 37.3 million shares worth VND1.8 trillion traded in block deals.
VIETNAMESE CURRENCY FORECAST TO STRENGTHEN AGAINST US DOLLAR IN 2021
Fitch Solutions have revised its 2021 average forecast for the Vietnamese đồng to VNĐ22,900 per US dollar from VNĐ23,000 per US dollar previously and VNĐ22,800 per US dollar from VNĐ23,200 per US dollar in 2022 as the central bank tolerates a stronger đồng over the short term.
HCM CITY WANTS TAX REDUCTION FOR COVID-AFFECTED BUSINESSES
The HCM City People’s Committee has made several suggestions for a Ministry of Finance decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2 per cent higher than deposit interest rates.
VIETNAM WEIGHTS A TAX RELIEF PACKAGE OF VND21.3 TRILLION
The government proposed a 30-per-cent tax cut on corporate income tax if a company's revenue this year is less than VND200 billion ($8.8 million). It is expected that the state budget revenue will be reduced by about VND2.2 trillion ($97 million) under this plan.
HSBC MAPS OUT TWO SCENARIOS FOR VIETNAMESE ECONOMY UNTIL YEAR-END
According to the first scenario, the country’s gross domestic product (GDP) would grow 5-5.5%, depending on the speed and effectiveness of the vaccination rollout, the re-opening of the economy and the recovery and resumption of major export markets.
BUSINESSES WAIT FOR BANK DEBTS RESCHEDULING
A week after the State Bank of Vietnam issued Circular 14 on debt rescheduling to alleviate the difficulties faced by businesses due to the COVID-19 pandemic, many individual and corporate borrowers said they are still waiting to hear from banks.
