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.
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 Export-Import Bank of China (China Eximbank) has recently approved an additional US$250-million loan for the Cat Linh - Ha Dong Railway project in Ha Noi.
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).
Customer deposits in the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) increased by 16.6 per cent in the first nine months of 2017.
The amount of interest and fees that Vietnamese businesses have to pay in this year is about US$1.56 billion.
The auto market in Viet Nam is becoming more competitive when car firms drop prices to promote consumption in the context of ASEAN’s new tariff cut and the government’s tax policy changes.
The official operation of derivative market has marked a milestone in the development of Vietnam's stock market, meeting the expectations of the Government, the business community and the investors.
The environmental protection tax on plastic bags are expected to increase from VND30,000-50,000 to VND40,000-200,000 per kilo. The new tax rates would help change consumption habits and offer opportunities to biodegradable bag manufacturers.
The recall of over 500 cars with number plates of 80A, 80B issued to businesses must be completed before 30 June.
If the Ministry of Finance (MoF)’s draft law, which amends and supplements five tax laws is adopted, it will have serious impacts on beverage producers.
Head of the Finance Ministry's Tax Policy Department Pham Dinh Thi affirmed that the Ministry of Finance has not announced any taxes on the second home.
The VAT increase proposed by the Ministry of Finance prompt me to the question: For whom? In a country where the State affirms that it is "of the people, by the people, for the people", raising VAT is eventually for whom?
According to Associate Professor, Dr Ngo Tri Long, former head of Price and Market Research Institute under the Ministry of Finance, reasons put forward by the Ministry to increase value added tax (VAT) are inappropriate and unconvincible.
