CORPORATE TAX LAW CHANGES WORRY BUSINESSES
The Ministry of Finance (MoF) has announced changes in the Law on Corporate Income Tax (CIT) to better regulate and monitor the level of equity and taxable income for firms operating in Việt Nam.
FINANCE MINISTRY OPPOSES HIGH INCENTIVES FOR SPECIAL ECONOMIC ZONES
The Ministry of Finance (MoF) has expressed its disagreement with certain incentive mechanisms for businesses and individuals working in special economic zones in three provinces.
VAT HIKE PROPOSAL: FURTHER CONSIDERATION NEEDED
The Ministry of Finance’s recent proposal for a hike of value-added tax (VAT) from 10 per cent to 12 per cent from early 2019 is stirring up public concerns. In the event that people's livelihoods and business performances are still hard, applying a higher tax rate will force them to carry a heavier burden.
RAPID CREDIT GROWTH POSSIBLE, BUT RISKY: EXPERTS
The Government has called for faster than targeted credit growth in pursuit of this year’s GDP goal of 6.7 per cent. However, experts have some concern that this would exert more pressure on the central bank to ensure macroeconomic stability and efficiency of credit growth.
GOVERNMENT OKAYS AMENDMENTS TO TAX LAWS
The Ministry of Finance on Tuesday announced a scheme for amending tax laws, including the laws on value added tax, personal income tax, natural resource tax and special consumption tax.
FINANCE MINISTRY PROPOSES NEW TAX ON PICKUPS
The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 per cent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their cost.
RATE CUT: FROM POLICY TO REALITY
The State Bank of Vietnam (SBV) has decided to cut regulatory interest rates, in stark contrast to concerns about the pickup of interest rates because deposit growth is lower than credit growth in the midst of bad debt anxiety.
AMENDING TAX ADMINISTRATION LAW IN 2018
To collect taxes in arrears, the General Department of Taxation has built and assigned tax debt collection tasks in 2017 to every unit from the beginning of 2017 and directed them to apply measures to coercively collect overdue taxes according to the law. 63 tax departments across the country collected VND22,076 billion of taxes in arrears in the year to May 31, equal to 46.7 per cent of tax debt as of December 31, 2016 and up 13.5 per cent over the same period in 2016.
