US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Two accounting systems results in a lack of transparency and it is also the shortest path leading to the devaluation of firm during future mergers and acquisitions (M&A) or initial public offering (IPO).
Given the current state of tax practices, which poses many risks to the business, Bui Tuan Minh, tax partner of Deloitte Vietnam, VEMBA Alumnus has suggested a model helping firms to achieve sustainable growth at "Financial sustainability for Entrepreneurs" seminar organized by Military Bank (MB) and Vietnam Executive Master of Business Administration program of University of Hawaii.
Minh believes that currently, many businesses are facing with a number of tax problems that could negatively impact to the firm’s future.
Specifically, many companies do not comply with tax regulations such as having two accounting system, one for internal purpose another for tax purpose. This can cause businesses to deal with tax arrears, late payment penalty and false declaration penalty.
Two accounting systems results in a lack of transparency and it is also the shortest path leading to the devaluation of firm during future mergers and acquisitions (M&A) or initial public offering (IPO).
"Everything is uncertain except for tax or debt, you cannot run from either of them," said Bui Tuan Minh.
For the first two years of business operations, the top priority of startup company and SMEs is to survive and stay in business. Thus, tax is not the number one concern of firms at this stage.
During three to five years, businesses should build up an effective accounting and taxation system to improve their business and production, as well as to consider application of incentives to reduce tax expenditures. Firms should prepare themselves to keep up with all the changes.
Since year six forward, this is an ideal period to look for a tax consultant to enhance tax compliance as the firm might be subjected to an inspection by the regulator.
Thus, it is emphasized that firms should consider creating a system to optimize tax benefits rather than creating unlawful invoices to avoid paying tax, which could create big trouble harming the trust of future partners and the sustainability of the firm itself.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.