Suspending VAT refunds will harm cassava industry Business

Suspending VAT refunds will harm cassava industry

The Vietnam Cassava Association has proposed the Government does not implement a recent decision on value-added tax (VAT) refunds for cassava starch products as it will create difficulties for the cassava industry.
VAT reduction: impacts and problems in implementation Business

VAT reduction: impacts and problems in implementation

Vietnam’s Government slashed the value-added tax (VAT) rate from 10 to 8 percent earlier this month – a move that cost the State budget 49.4 trillion VND (2.2 billion USD) but, along with other support, is expected to help boost the pandemic-hit economy.
Rising oil and gas prices would put brake on economy: expert Business

Rising oil and gas prices would put brake on economy: expert

The escalating oil and gas prices would reduce and even neutralise the effect of the 2-percent VAT cut which was intended to stimulate consumption, stir growth and reduce inflation pressure, thus resulting in failure to achieve the growth target, losses to the budget and rising inflation, according to Nguyen Bich Lam, former Director General of the General Statistics Office (GSO).
Indonesia extends VAT cut on new houses World

Indonesia extends VAT cut on new houses

The Indonesian government has decided to extend the maximum value added tax (VAT) discount of 50 percent for housing from January 1 to September 30, 2022.
Foreign websites to pay VAT in Thailand World

Foreign websites to pay VAT in Thailand

Around 20 large overseas online platform operators plan to register as value-added tax (VAT) payers in Thailand, according to Ekniti Nitithanprapas, director-general of the Revenue Department of Thailand.
Amendment to tax law on fertiliser in urgent need Business

Amendment to tax law on fertiliser in urgent need

Tax Law No 71/2014/QH13, which treats fertiliser as a VAT-free item, has become a double-edged sword as after five years of implementation it has not reduced domestic fertiliser prices but instead hindered production and investment in the sector.