Business News

This is a part of the programme on amending the Value-added Tax (VAT) Law that the General Department is consulting with experts, said Tạ Thị Phương Lan, deputy head of the Tax Administration Department of Small, Medium Enterprises, Business Households and Individuals under the General Department of Taxation.

While welcoming the government’s new supporting policy, foreign-invested enterprises in Vietnam are seeking more assistance to survive the COVID-19 storm and spur recovery.

Experts have warned that a firm legal framework and strict punishment measures are needed to manage virtual financial investment platforms, which they say are now out of control.

The State Bank of Vietnam (SBV) has requested local credit institutions and foreign banks’ restrict lending concentration for real estate and construction, Build-Operate-Transfer (BOT) and the consumption sector.

Vietnam’s stock market is expected to continue to grow, helped by strong economic growth and increasing local liquidity. The positive outlook will attract foreign investors back to the market, according to HSBC.

Seven banks are in the list of Top 10 most profitable listed companies in Q1, recording increases in pre-tax profits.
Topping the list are two stated-owned lenders Vietcombank and VietinBank. The former recorded VND8.6 trillion ($373.9 million) in pre-tax profits, up 65 percent year-on-year, while the latter posted VND8 trillion, up 171 percent.

Liquidity of the southern stock market in April stood at the highest level from the outset of the year, with more than 14.51 billion stocks traded at a value of over 366.94 trillion VND, according to the Ho Chi Minh Stock Exchange (HOSE).

The Government has issued Decree No. 52/2021/ND-CP proving extension of time limits for payment of value-added tax, corporate income tax, personal income tax, and land rent fees to support businesses and people suffering from the COVID-19 pandemic.