The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce as there are no specific regulations on the sector.
The Ministry of Finance has suggested adding four sectors into the list of industries eligible for extension of tax and land lease payment deadlines with a total sum of VND180 trillion (US$7.82 billion).
The term for tax and land lease payment worth about 30 trillion VND (1.3 billion USD) has been extended in a support package for enterprises and business households hit by COVID-19 outbreak, the Finance Ministry said on March 6.
Plans have been proposed to increase tax on tobacco, ban electronic vapes and tighten online advertising of cigarettes.
The collection of tax from cross-border services, or services provided by foreign firms via internet to users in Vietnam, is included in the amended Tax Management Tax, expected to take effect in early 2020.
Legislators will vote on a resolution ratifying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and relevant documents on November 12, as part of the ongoing sixth session of the 14th National Assembly.
The National Assembly Standing Committee convened a conference of full-time NA deputies on September 6 to discuss the draft revised law on fighting corruption and draft adjustments to the Law on Higher Education.
A Finance Ministry proposal to slap a 10% special consumption tax on sweetened drinks would hurt small and medium businesses, critics say.
VOV.VN - Vietnam is Canada’s fourth largest supplier of wood furniture with a market share of 12.9% of the country’s total wood furniture imports.
HCM City authorities discussed the current shortcomings of tax and customs regulations in Vietnam at a dialogue with enterprises on December 15.
While the Vietnamese government is making great efforts to improve the country’s business and investment climate, unclear tax- and fee-related regulations are tormenting local firms planning to expand.
Following the implementation of a provisional tax on imported fertilisers, more things need to be done to help balance benefits of both local producers’ and farmers’ benefits, industry insiders have agreed.
The latest proposal to tax an individual’s income from the interest accrued from the savings deposited in banks has become a bone of contention between the parties concerned.
The total automobile sales in the first seven months of 2017 went down 6 percent year-on-year to 154,930 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on August 8.
Vietnam’s Ho Chi Minh City and the Lao capital city of Vientiane have agreed to foster and expand their cooperation in the time ahead and approve cooperation orientations for the 2017-2020 period.
The capital city of Hanoi collected over VND93.9 trillion (US$4.1 billion) in taxes during the first half of this year, completing 50.1% of its annual target and 18 percent higher compared with the same period in 2016, the municipal Tax Department reported on July 10.
As many as 13,422 Facebook account holders are conducting trading activities through this social network, the Hanoi Taxation Department announced on June 20.
Vietnam-based internet company VNG Corporation earned more than VND3 trillion in net revenue (US$133 million) and VND543.4 billion (US$23.9million) in after-tax profit last year, according to its 2016 financial report.
A new plan by Ho Chi Minh City tax department looks to name and shame owners of Facebook shops that intentionally evade tax responsibilities.
Various issues bar tax departments from collecting tax from Facebook sellers.