Reduced revenue from cutting taxes on imported goods in accordance with various free trade agreements (FTA) Vietnam had signed was unlikely to affect State revenue, said the finance ministry in a conference held on December 12 in Hanoi.
After 10 years, Dung Quat Oil Refinery Plant operated by Binh Son Refining and Petrochemical (BSR) processed nearly 79 million tonnes of crude oil and sold 64 million tonnes of products.
Minister of Industry and Trade Tran Tuan Anh on November 7 cleared up questions raised by National Assembly deputies regarding the aluminum shipment labeled as made-in-Vietnam product and worth 4.3 billion USD to the US by a Chinese-invested business in the southern province of Ba Ria-Vung Tau.
The Binh Son Refining and Petrochemical Joint Stock Company (BSR) has enjoyed sound business results from the outset of the year, although its profit margin was affected by fluctuations in global oil prices.
Two ringleaders in a fake cancer drug trading case at the Vietnam Pharma JSC (VN Pharma) were sentenced to 17 years and 20 years in prison on October 1 at the first-instance trial at the Ho Chi Minh City People’s Court.
The Government will soon issue a revision to Decree 116/2017 on the conditions for production, assembly, import and business of automobile warranty and maintenance services, removing a number of regulations relevant to auto imports.
The Ministry of Finance plans to eliminate the import tax for auto materials and parts in order to support the development of the country’s automobile industry.
The Ministry of Finance plans to eliminate import taxes on auto materials and parts in order to support the development of the country’s automobile industry.
A draft circular on "Made in Vietnam" products is expected to help genuine businesses avoid accusations of fraud, said a representative of the Ministry of Industry and Trade.
The Ministry of Finance has proposed to increase import tax on complete built-up units (CBUs) of trucks weighing more than 45 tonnes from the current zero to 10 percent.
Tariffs on imported products including fruit and frozen foods from six member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be reduced to zero backdated to January 14 this year to 2022.
Vietnam’s customs sector will help businesses carry out procedures while implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Deputy General Director of the General Department of Vietnam Customs Nguyen Duong Thai.
Vietnam's fiscal deficit will stay high at 5.7 percent (including interest repayment) in 2019 due to delays in the divestment of State-owned enterprises (SOE) and lower import tax revenues, according to Fitch Group’s Fitch Solutions forecast.
The Ministry of Finance has added environmentally-friendly cars to the list of vehicles with spareparts entitled to special preferential import tariffs.
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
The domestic market is expected to see considerable changes in 2019 as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) became effective as from January 14, according to market watchers.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has recently taken effect in Vietnam, which will bring about both opportunities and challenges for many fields, including agriculture.
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