Cars will enjoy a 50% cut in registration fees from July 1 after Deputy Prime Minister Le Minh Khai on Ju ne 28 signed a decree on registration fee reduction for domestically manufactured and assembled automobiles.
More than 3.22 trillion VND (136.65 million USD) of public investment capital from foreign sources was disbursed in the first six months of this year, completing 27.2% of the target set for the whole year, according to Truong Hung Long, Director of the Department of Debt Management and External Finance under the Ministry of Finance (MoF).
The retail prices of petrol remained unchanged while oil prices have been increased since 3 pm on June 12 in the latest price adjustment made by the Minister of Industry and Trade and the Ministry of Finance.
Petrol prices continued to be revised down from 3pm on May 11, following the latest adjustment of the Ministry of Industry and Trade, and the Ministry of Finance.
More than 110.6 trillion VND (4.7 billion USD) of public investment was disbursed in the first four months of this year, equivalent to 14.6% of the yearly target and lower than the 18.48% in the same period last year, according to the Ministry of Finance.
The Ministry of Finance (MoF) has sent a document to ministries, ministerial-level agencies and Government agencies asking for their coordination in the drafting of a circular on reducing fees and charges to ease difficulties for people and businesses.
The Ministry of Industry and Trade (MoIT) said that it is necessary to devise a 50% cut on auto registration fees and extend the payment of the excise tax on locally-assembled and manufactured cars to stimulate consumer demand and ease the burden on businesses.
The Government has agreed with the Ministry of Finance’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services.
Deputy Prime Minister Le Minh Khai has emphasised the need to clear all roadblocks and clarify the responsibilities of the persons concerned to accelerate public investment disbursement.
The Vietnam Chamber of Commerce and Industry (VCCI) has made a renewed call for the Ministry of Finance (MoF) to eliminate the special consumption tax (excise tax) on gasoline.
In an effort to address the ongoing challenges faced by the domestic real estate market, an approach encompassing legal, administrative, and financial solutions is urgently required, particularly in the realm of credit.
The Government has agreed with the Ministry of Finance (MoF)’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services subject to a 10% VAT.
Insurance companies must tighten the supervision and inspection of insurance agencies, quality of consultation, and sales, said the Insurance Supervisory Authority, the country's insurance industry regulator under the Ministry of Finance.
The Ministry of Finance has proposed corporate income tax rate on small and micro-sized enterprises be lowered than the common rate in an effort to support them to overcome the difficult time and promote their development.
A delegation of the State Bank of Vietnam (SBV), led by its Deputy Governor Pham Tien Dung, attended the ASEAN Central Bank Governors’ Meeting, the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, and related events in Bali, Indonesia, from March 28 - 31.
The General Department of Taxation under the Ministry of Finance has said it will keep a close watch on the implementation of the global minimum tax in other countries, listen to opinions of firms impacted by the tax and study guidelines of the Organisation for Economic Cooperation and Development (OECD) to propose its application in Vietnam.
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