Vietnam has seen considerable improvements in budget transparency at national, provincial and ministry levels, heard a project closing workshop in Hanoi on October 8.
The taxation sector has collected over 752.6 trillion VND (32.45 billion USD) for the State budget, equivalent to 60 percent of the yearly estimate and 91.9 percent of the figure of the same period last year, the General Department of Taxation reported.
The General Department of Taxation must hasten reforms to create a favourable environment for enterprises to recover their business from the ravages of the COVID-19 pandemic, which was critical to increase tax revenue, Deputy Minister of Finance Tran Xuan Ha has said.
Technology giant Google in Indonesia has announced that it is ready to charge 10 percent of value added tax (VAT) on customers if required by the host country’s government.
The tax sector’s state budget revenue was estimated at nearly 500 trillion VND (21.73 billion USD) in the first five months of this year, equal to 97.6 percent of the figure of the same period last year.
The State budget revenue in January – April was estimated to total 491.38 trillion VND (21.05 billion USD), representing a drop of 5.9 percent against the same period last year, as the Government offered tax relief to support those affected by the COVID-19 pandemic, according to the Ministry of Finance.
Prime Minister Nguyen Xuan Phuc has commended the tax sector for doing a good job in reshuffling its apparatus, and urged the sector to continue with reform of tax procedures.
Ha Long city in the northern coastal province of Quang Ninh has planned to spend 2.5 trillion VND (nearly 108 million USD) on 57 public works, especially transport infrastructure projects, in 2020.
Minster of Finance Dinh Tien Dung on January 13 asked for greater efforts from the tax sector to well implement the budget collection plan for 2020 assigned by the National Assembly and the Government.
Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.
The northern mountainous province of Lao Cai now has quite favorable infrastructure to become a "bridge" on the Kunming (China)-Lao Cai-Hanoi-Hai Phong-Quang Ninh Economic Corridor.
The signing and implementation of free trade agreements has increased Vietnam's tax collection this year, said Luu Manh Tuong, director of Import-Export Tax Department under Vietnam Customs.
Together with the capital city of Hanoi and the southern economic hub of Ho Chi Minh City, Quang Ninh has become ready to connect with the national public service portal – which will be launched at the end of November 2019.
The capital city of Hanoi recorded impressive socio-economic development results in the first nine months of this year, with a gross domestic product (GDP) growth of 7.35 percent, up from the 6.95 percent expansion recorded in the same period last year.
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.
After lagging behind other provinces and cities nationwide in attracting Japanese investment, the central city of Da Nang has emerged as a popular destination for investors from Japan.
After lagging behind other provinces and cities nationwide in attracting Japanese investment, the central city of Da Nang has emerged as a popular destination for investors from the Land of the Rising Sun.
Thai Finance Minister Uttama Savanayana has disclosed urgent policies which are to be implemented during the first three months of the new government in Thailand with a focus on economic issues, including taxes which need to be restructured promptly.
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