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Vietnam-China trade fair reaps rich benefits

Vietnam-China trade fair reaps rich benefits

(VOV) - The Vietnam-China Border Trade Fair taking place on November 8-12 in Hekou, China has resulted in about 19 business deals worth US$440 million so far, according to the Lao Cai province Department of Industry and Trade.

RoK deemed to be key tourism market of Vietnam

RoK deemed to be key tourism market of Vietnam

(VOV) - A forum opened in Seoul, the Republic of Korea (RoK), on September 17 to introduce Vietnam’s tourism potential and create a forum for travel agents of the two countries to seek partnerships and boost cooperation.

Finance Ministry vows to boost tax reform

Finance Ministry vows to boost tax reform

(VOV) - The Ministry of Finance (MoF) will abolish unnecessary tax and customs procedures in an effort to facilitate business operations, said MoF Minister Dinh Tien Dung.

HCM City refunds US$1.4 million of VAT to foreigners

HCM City refunds US$1.4 million of VAT to foreigners

Ho Chi Minh City has refunded over VND30 billion (US$1.4 million) of value added tax (VAT) to foreigners exiting Vietnam through Tan Son Nhat International Airport border gate since July 1, 2012.

Lower VAT proposed for farm exporters

Lower VAT proposed for farm exporters

(VOV) -A targeted value added tax (VAT) reduction would help businesses upgrade technology and develop high value added products, participants at a February 13 meeting in Hanoi have suggested.

Customs collect US$7.27 billion in 9 months

Customs collect US$7.27 billion in 9 months

Taxes and duties collected in the first nine months of this year by the General Department of Customs rose 13.8 percent year-on-year to nearly VND160 trillion (US$7.27 billion), meeting only 67.6 percent of the annual target.

Budget deficit higher than expected

Budget deficit higher than expected

The State budget deficit was estimated to hit VND92.39 trillion (US$4.35 billion) in the first half of this year, equal to 57 percent of the annual plan set by the National Assembly.

7-percent inflation predicted for 2013

7-percent inflation predicted for 2013

(VOV) - The National Financial Supervision Committee has forecast that Vietnam’s inflation rate in 2013 will be controlled at less than 7 percent.

State budget down 1.9 pct in two months

State budget down 1.9 pct in two months

State budget revenue dropped by 1.9 percent in the first two months of the year to US$5.52 billion, accounting for 14.1 percent of the year’s estimated total.

Deflation likely to continue in second half

Deflation likely to continue in second half

The falling inflation index in the first half of this year is attributed to unanticipated factors and the lack of middle and long-term strategies for stable economic growth.

Vietnam to boost exports with VAT refund scheme

Vietnam to boost exports with VAT refund scheme

Taxation bodies, customs agencies, treasuries, the two chosen commercial banks and enterprises have been making hectic preparations for the implementation of the pilot plan on refunding VAT to foreigners.

VAT cut of 50 pct tipped

The Ministry of Finance will consider slashing the value added tax (VAT) by 50 percent in an effort to support businesses during the economic slowdown, said Finance Minister Vuong Dinh Hue.

Overseas remittances exempt from VAT

Overseas remittances exempt from VAT

The Ministry of Finance has affirmed that the State will not impose the 10-percent value added tax (VAT) on overseas remittances and foreign currencies channelled through banks.