Under the new regulation, hotels will receive a 50% tax reduction from late August to September, followed by a 20% reduction from October to December. Restaurants will benefit from a 20% tax cut during the same periods.
In a letter sent to US President Donald Trump, Cambodian Prime Minister Hun Manet requested negotiations after the US imposed a 49% tariff on products from Cambodia, urging Trump to postpone the tariff implementation.
The Government on June 30 issued Decree No. 44/2023/ND-CP on reducing the value added tax (VAT) in line with the National Assembly’s Resolution No. 101/2023/QH15 dated on June 24, 2023.
Businesses applauded the Government’s decree on tax payment deadline extension which helps them to have capital for maintaining production and ensuring workers’ benefits.
Vietnam has successfully maintained fiscal, external and financial stability, Resident Representative of the International Monetary Fund (IMF) for Vietnam Francois Painchaud has said.
The National Assembly on June 19 passed a resolution on reducing corporate income tax in 2020 for enterprises, cooperatives, public non-production agencies and other organisations, with 91.1 percent of votes.
The average tax incentive for each major enterprise is currently tens of times higher than that for other groups of businesses in the economy, an expert has said.
The Ministry of Finance has refused to reduce tax rates for the coal industry, citing the fact that tax reduction is beyond the Government’s authority.
The Vietnam Petroleum Association (VINPA) has proposed to establish commercial barriers to protect local firms once import duties on fuel products are gradually reduced to zero percent.
14th National Assembly deputies scrutinised a report on the draft resolution on revising and supplementing some articles of Resolution No. 55/2010/QH12 on exempting and reducing agricultural land rent
The Government will submit a tax reduction plan to the National Assembly this month, which aims to meet a target of increasing the number of efficient enterprises nationwide to one million by 2020.
Vietnamese exporters should restructure their production to improve profit and enjoy preferential of the Trans-Pacific Partnership agreement (TPP), Tran Tuan Anh, Deputy Minister of Industry and Trade
