ONLINE TAX REFUND SOON IN 13 CITIES, PROVINCES
[28-11-2016] The online tax refund pilot project would be implemented in 13 municipal taxation departments this year and expanded next year. The project is aimed at reducing negative phenomena in the refund of value added tax (VAT). Nguyễn Đại Trí, deputy head of the General Department of Taxation under the Finance Ministry, released the information at a press briefing to introduce some e-tax services in Hà Nội last Friday.
VIETNAMESE BANKS URGED TO GO DIGITAL
[21-11-2016] Digital banking has assumed crucial importance in the development of Viet Nam’s banking system, Dao Minh Tu, deputy governor of the State Bank of Viet Nam (SBV) stressed at a recent conference. The conference themed “Digital bank - the future of banking?” was held in Ha Noi last week.
MONETARY POLICY SUPPORTS ECONOMIC GROWTH
[14-11-2016] A flexible monetary policy supported stability in Viet Nam’s financial market and fostered economic growth this year, a National Financial Supervisory Commission (NFSC) official said in Ha Noi last week.
BANKS CUT BACK LENDING FOR PROPERTY SECTOR
[15-11-2016] The interest rates on medium- and long-term loans to the property sector have recently increased by 1-1.5 percentage points. The banks’ move is in response to the State Bank of Việt Nam (SBV)’s warning that they should exercise caution, particularly while lending to the high-end property segment, to head off a possible bubble.
4,959 TARIFF LINES ON IMPORTS FROM EAEU BROUGHT TO ZERO
[21-10-2016] The Government’s Decree No. 137/2016/ND-CP on Vietnam’s preferential import tariff nomenclature has been issued to implement the Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) and member countries for 2016-2018.
NEW TAX CUT PLAN AIMS TO BOOST ENTREPRENEURSHIP
[20-10-2016] Pham Dinh Thi, director of Ministry of Finance's Tax Policy Department, said the tax reduction plan was part of a Government draft resolution on clearing obstacles to boost the development of enterprises, which would be tabled during the NA's second session that starts on October 20.
BANKS REPORT STRONG GROWTH IN LENDING AND BORROWING
[18-10-2016] Banks in HCMC reported high growth in lending and borrowing in the first nine months of the year, according to the HCMC branch of the State Bank of Vietnam (SBV). Deposits at banks amounted to more than VND1,740,000 billion, up 11.37% against the same period last year, whilst outstanding loans reached VND1,390,000 billion, a year-on-year increase of 13.26%. These are the highest January-September growth rates in recent years.
