The State budget’s domestic revenue in the first eight months of 2019 is estimated at 808.8 trillion VND (34.8 billion USD), according to the Ministry of Finance.
Preferential policies should be applied selectively, targeting FDI businesses with effective operation rather than the scale of investment, Deputy Prime Minister Vuong Dinh Hue said at a working session with the Ministry of Finance in Hanoi on February 28.
NA deputies are to vote on a resolution on socio-economic development plan for 2019 during their sitting on November 8 within the framework of the NA’s ongoing 6thsession.
Total State budget revenue in HCM City reached 347.98 trillion VND (15.32 billion USD) in 2017, slightly more than the year’s target, and up 13.5 percent compared to 2016, according to the city’s State Treasury.
The Ministry of Finance (MoF) expects to keep this year’s State budget deficit at 3.7 percent of the GDP, below the 3.9 percent mandated by the National Assembly.
The Taxation Department of the northeastern coastal province of Quang Ninh has taken measures to deal with tax arrears of businesses in order to fulfil the state budget collection target this year.
State budget revenues falling short of the half-way mark in the first six months of the year is a normal feature of the domestic economy and does not preclude meeting the annual target.
The Vietnamese legal framework and policies regarding transparency in the mining sector is "fairly comprehensive", however, implementation of such policies leaves a lot to be desired, according to a study by the Vietnam Chamber of Commerce and Industry (VCCI).
Prime Minister Nguyen Xuan Phuc asked the Finance Ministry to take prompt measures to collect revenues for the State budget from the beginning of the year at a teleconference in Hanoi on January 6.
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.
Prime Minister Nguyen Xuan Phuc on August 31 emphasised the importance of reforming working methods inside the Government at the Cabinet regular monthly meeting.
Entrepreneurs are hailing a national plan to reduce corporate income tax for small- and medium-sized enterprises from 20 percent to 17 percent starting next year.
The National Financial and Monetary Policy Advisory Council will concentrate on dealing with the reorganisation of credit institutions and State-owned enterprises, and handling bad debts.
As of May, the Government's revenue from dividends remained low at only 13.5 trillion VND (602 million USD), equal to only 25 percent of the estimates for the year.
A workshop assessing the impacts of free trade agreements (FTAs) on
State budget revenues was organised in Hanoi on June 19 by the National
Institute for Finance (NIF) and the US Agency for International
Development (USAID).
The Government, for the first time, has instructed relevant ministries
to create a legal mechanism to allow for part of foreign currency
reserves to be used to fund development projects.
From just five industrial parks (IPs) approved in 2002 with a combined
area of 440 ha, the northern province of Hai Duong has to date had 18
IPs covering a total area of 3,710 ha, according to the Vietnam Business
Forum Magazine (VBF).
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