VOV.VN - With the EU-Vietnam Free Trade Agreement (EVFTA) set to come into force on August 1, it is considered a great opportunity for the Vietnamese textile and apparel industry, despite concerns that the rules of fabric origin will make it tough for local products to enjoy the benefits of the trade deal.
The Ministry of Finance will consider a value-added tax (VAT) rate of 5% on fertiliser products which are now free of VAT in response to domestic producers’ claim that the zero VAT policy made it harder for them to compete.
The Ministry of Finance has slashed administration fees in numerous sectors to help the economy get back on its feet when the COVID-19 pandemic eases.
Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No 41/2020/ND-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.
Tax incentives for developers of social housing projects for lease should be made clear and consistent to encourage private investment in the segment, according to the HCM City Real Estate Association.
Vietnam Automobile Manufacturers’ Association (VAMA) has proposed the Government reduce value-added tax (VAT) and registration fees for car customers by 50%, reports vietnamnet.vn.
The Ministry of Finance has proposed a tax deferral to support people and businesses affected by the coronavirus disease (COVID-19) fallout.
Vietnam's Tourism Advisory Board (TAB) has proposed to halve value added tax (VAT) for the tourism sector from 10% to 5% to help businesses deal with the acute respiratory disease caused by the novel coronavirus SARS-CoV-2 (COVID-19) outbreak.
The challenges on market access, circulation of products, and tax in the Vietnamese market are expected to be solved ahead of the European Parliament’s crucial vote for the ratification of the EU-Vietnam Free Trade Agreement scheduled for early 2020.
Thanks to the Government’s efforts to simplify tax compliance processes, Vietnam ranked 109th out of 190 countries and territories on ease of paying taxes in the World Bank’s Doing Business 2020 report (DB2020), up 22 places from the previous report.
VOV.VN - Vietnam’s exports of cassava and cassava-based products suffered a remarkable drop during the first five months of the year, according to the Ministry of Agriculture and Rural Development.
While the taxation agency insists on imposing a luxury tax on soft drinks, some experts warn that the move could lead to Vietnam being accused of discriminatory treatment.
New preferential policies have encouraged both local and international firms to invest in renewable energy, according to authorities.
Increasing value-added tax (VAT) does not help boost economic growth, but it can increase the poverty rate, said a report announced by the Vietnam Institute for Economic and Policy Research (VEPR) under the University of Economics and Business - Vietnam National University in Hanoi on June 28.
Fertilizer producers have petitioned lawmakers to add fertilizer to the list of products subject to value added tax (VAT), reports the website of the Ministry of Industry and Trade.
Vietnam is among the countries with the highest selling price of cars in the world.
Experts’ reactions to the Ministry of Finance’s (MoF) tax adjustment draft have been mixed, while the business community struggles to keep up with the variety of proposed tax hikes.
Fierce public objections about its proposal to impose value-added tax (VAT) on the transfer of land-use rights have forced the Ministry of Finance to shelve the move.
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.
Experts have urged simplifying the procedures to receive refunds on value-added tax (VAT) for foreign tourists.