Business News

Rushing to replace paper bills with e-invoices is expected to pose a challenge to many businesses. The Ministry of Finance is drafting a circular on invoices, noting that paper bills will be replaced by e-invoices from the start of 2018. However, businesses have complained that they are not prepared for the change.

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.

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.

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.

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.

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.

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.

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.