Mining industry unable to enjoy tax incentives Business

Mining industry unable to enjoy tax incentives

The mining industry faced difficulties in the first eight months of this year due to being unable to enjoy tax and land rental incentives, said Nguyen Huu Quang, deputy head of the National Assembly's Committee on Finance and Budget.
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.
Better legal framework needed for SMEs Business

Better legal framework needed for SMEs

A consistent legal framework related to tax deductions, land allocations and credit programmes is needed to support small- and medium-sized enterprises (SMEs), experts have urged.
Reduction of corporate income tax proposed Business

Reduction of corporate income tax proposed

Almost all Vietnamese businesses are small and medium-sized, contributing greatly to the economy. Therefore, stimulating these businesses has played an important role in economic development.
New rules on processing goods for foreign traders Business

New rules on processing goods for foreign traders

The Vietnamese Government has issued a decree stipulating that Vietnamese traders are allowed to process legal goods for foreign merchants, excluding the commodities banned or temporarily suspended from export and import.
 Experts’ reactions to MoF tax plan mixed Business

Experts’ reactions to MoF tax plan mixed

Experts’ reactions to the Ministry of Finance’s (MoF) tax adjustment draft have been mixed, while the business community struggles to keep up with the variety of proposed tax hikes.
Finance Ministry backs down on VAT Business

Finance Ministry backs down on VAT

Fierce public objections about its proposal to impose value-added tax (VAT) on the transfer of land-use rights have forced the Ministry of Finance to shelve the move.
Finance Ministry proposes tax law changes Business

Finance Ministry proposes tax law changes

The Ministry of Finance has proposed amendments to the Law on Tax Management, aiming to enhance efficiency of tax collection from multinational companies, cross-border transactions and online businesses.
Vietnamese steel firms to pay US tax Business

Vietnamese steel firms to pay US tax

Three Vietnamese steel firms will pay zero tax after answering the anti-dumping questionnaire of the US Commerce Department, but other exporters of steel pipes will pay the maximum tax of 113 percent.