Want to be in the loop?
subscribe to
our notification
Business News
TAX AND CUSTOMS MONITORING EXPANDED TO 13 PROVINCES AND CITIES IN 2016
Mr Nguyen Thien Nhan, Chairman of the Central Committee of the Vietnam Fatherland Front, said that tax and customs sectors have made progress in administrative reform, but stronger reforms are needed to overcome shortcomings in 2016. In 2016, 13 provinces and cities will assess business satisfaction to draw experience for financial and customs services, thus laying a stepping stone to draw an overview and reward well performing units - a step to bring Vietnam to the group of fours in ASEAN in administrative procedure reform, particularly in the tax and customs fields.
The monitoring programme has promoted active roles of VFF members, empowered companies, and created useful channels to bridge State agencies and businesses. In 2015, VCCI collaborated with its members to conduct a sociological survey into business associations and cooperative allies in order to collect opinions of the business community and cooperatives on the implementation of Resolution 19/NQ-CP, and received feedback from 153 associations, 27 cooperative associations and 59 out of 63 provinces and cities.
Besides, it organised a practical monitoring programme in six provinces and cities, including Hanoi, Lao Cai, Da Nang, Quang Nam, Ho Chi Minh City and An Giang to work with six tax and customs departments, conducted surveys with 14 companies, and organised three online dialogues with over 100 representatives from associations, cooperatives and businesses. From monitoring results, the VFF Standing Committee and VCCI coordinated with their members to make reports on monitoring results and offer recommendations for the business community.
In 2016, the monitoring programme will focus on reflecting administrative reforms in tax and customs by collecting reviews of businesses, cooperatives, business associations and cooperative alliances; and collect recommendations and difficulties that businesses and cooperatives have in complying with State regulations in tax and customs. Accordingly, these agencies continue to supervise administrative reform relating to simplification and facilitation of administrative procedures in order to reduce compliance time and cost for businesses; review and assess legal provisions and administrative procedures concerning tax and customs, like the implementation of electronic tax and customs declaration procedures.
Deputy Finance Minister Vu Thi Mai said that the coordinated monitoring programme in tax and customs fields is an important content for the Ministry of Finance. Monitoring results will be the most accurate and important measure and assessment on reforms that the Ministry of Finance has achieved in recent years, reflecting shortcomings and limitations to be addressed in the near future.
Accordingly, in 2016, the monitoring programme will be deployed in 13 provinces and cities from July to October 2016, including Hanoi, Hai Phong, Ho Chi Minh City, Binh Duong, Ba Ria - Vung Tau, Dong Nai, Vinh Phuc, Quang Ngai, Quang Ninh, Khanh Hoa, Da Nang, Can Tho and Bac Ninh. Central authorities will implement the process in Hanoi, Hai Phong and Ho Chi Minh City, while local authorities will conduct it in 10 other provinces and cities.
Source: VCCI
Related News
SPECIAL INVESTMENT PROCEDURE: A GAME CHANGER FOR HIGH-TECH PROJECTS IN VIET NAM
Viet Nam is poised for a regulatory shift with the upcoming implementation of a special investment procedure starting earlier next year. Starting from January 15, 2025, investors will be able to enroll for investment under special procedures as outlined in the Draft Decree detailing the Investment Law.
PM ORDERS SWIFT RESOLUTION OF CHALLENGES FOR RENEWABLE ENERGY PROJECTS
Prime Minister Phạm Minh Chính has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.
CLEAR LEGAL FRAMEWORK NEEDED TO UNLOCK DIGITAL ASSET POTENTIAL
The past decade has seen remarkable advancements in technology worldwide, particularly in digital assets such as blockchain, cryptocurrencies, asset tokenization and decentralized finance (DeFi). Once unfamiliar, digital assets have now become integral to the global financial system. Leading nations in this field not only to drive innovation but also establish a strategic edge in the global economy.
VIETNAM TO RANK AMONG TOP 15 LARGEST ECONOMIES IN ASIA BY 2025
Based on data from the International Monetary Fund (IMF), Seasia Stats predicts that Vietnam’s economy will reach $506 billion in 2025, earning it a place in the top 15 largest economies in Asia. “Vietnam is rapidly developing thanks to its manufacturing boom and strong foreign investment inflows,” Seasia Stats noted.
HANOI'S ECONOMY CONTINUES TO SUSTAIN GROWTH
Speaking at the opening session of the 20th meeting of Hanoi People’s Council on December 4, Deputy Chairman of Hanoi People’s Committee Ha Minh Hai reported that the capital’s economy has maintained high growth, with regional GDP rising by 6.12 per cent in the first nine months of the year, and expected to exceed 6.5 per cent for the full year.
VIETNAM'S GDP GROWTH WILL LEAD THE REGION IN 2025
A report published by Oxford Economics on December 16 noted that Vietnam's economy has been the region's outperformer in 2024, with full-year growth likely at 6.7 per cent on-year. The country is expected to continue to outperform its peers next year, growing by 6.5 per cent.