Vietnam's Ministry of Finance is proposing a 100 per cent special consumption tax on beer and high-alcohol beverages by 2030 as part of efforts to curb excessive drinking and raise state revenues.
A recent Ministry of Finance ruling is set to send ripples across Real Estate businesses, especially those with extensive asset portfolios. The International Financial Reporting Standards (IFRS) adoption roadmap commits to improved transparency and brings financial reporting in Vietnam closer to global standards.
Moody's Investors Service has placed the Ba3 local and foreign currency issuer and senior unsecured ratings of the government of Vietnam under review for downgrade, which Vietnam's Ministry of Finance said is not convinced.
The Asian Development Bank and the Ministry of Finance have signed an agreement on funding the improvement of transport connectivity in northern mountainous provinces of Vietnam.
The Ministry of Finance has sent an official dispatch to the Ministry of Planning and Investment on the plan to inspect implementation of financial mechanisms on five large FDI real estate firms in 2018.
The property of an individual should be accumulated and only be imposed in progressive taxation if its value exceeds $220,000 to avoid taxing low-income people, ensuring social equality.
Economic experts are voicing conflicting opinions on the Ministry of Finance’s proposal to tax housing worth over $30,800, which may earn more to the State budget but severely affect chance of having accommodation for moderate incomers.
Ministry of Finance (MoF) is still determined upon its proposal to raise excise taxes on some items such as soft drinks, tobacco despite many objections raised by the ministries.
According to economist Ngo Tri Long, both options on changing the calculation methods of personal income tax proposed by the Ministry of Finance (MoF) are irrational.
Having encountered quite fierce protests from many organizations about the proposal to impose value added tax (VAT) on the transfer of land use rights, the Ministry of Finance (MoF) confirmed that it would not impose the tax.
Deputy Prime Minister Truong Hoa Binh has assigned the Ministry of Public Security, the Ministry of Industry and Trade, the Ministry of Finance and other relevant agencies to strictly handle the commercial infringements caused by Khai Duc Ltd., Co. (Khaisilk) in accordance with the law.
Due to strong opposition against the proposal on raising value added tax (VAT), the Ministry of Finance (MoF) has recently proposed to delay the VAT increase to 11 per cent until from January 01, 2019 and to 12 per cent until January 01, 2020.
The main reason for the delayed progress of Cat Linh-Ha Dong urban railway project this year was due to problems related to the agreement on an additional loan worth US$250 million signed between the Export-Import Bank of China (CEB) and the Ministry of Finance of Vietnam (MoF) on May 11, 2017, according to an official of the Railway Project Management Unit (RPMU).
The Ministry of Finance (MoF) has rejected the Netherlands-based Uber International Holding BV’s complaints about the decision to collect VND67 billion (nearly US$3 million) in tax arrears in a statement sent to the US-ASEAN Business Council.
