Vietnamplus

The National Assembly continued its agenda on November 7 with Chairwoman Nguyen Thi Kim Ngan in the chair.

The National Assembly will spend most time in the third working week of the 6th session (beginning November 5) on law building work.

Vietnam has made encouraging achievements in improving the local business climate and national competitiveness since the issuance of Resolution No.19 in 2014, as heard at a seminar held in Hanoi on November 2.

The processing time for tax credit claims has now been cut down by 75 percent compared to the procedures in 2015.

The State Audit of Vietnam (SAV) has carried out 222 audits out of total 232, equivalent to 95.7 percent of its yearly plan, recovering nearly 8.4 trillion VND (360.5 million USD) for the State budget in the last nine months.

The 14th National Assembly (NA) will conduct a vote of confidence on those holding the positions it elected or approved, during the sixth session scheduled to open next week.

The National Assembly (NA) will elect the State President at the beginning of the sixth session, said NA General Secretary and Chairman of the NA Office Nguyen Hanh Phuc at the NA Standing Committee’s 28th meeting on October 16.

The 27th meeting of the National Assembly Standing Committee concluded on September 20 after nine working days to prepare important contents for the NA’s sixth session slated for October.

Vietnam needs to create a fairer and more transparent tax environment, said Ambassador of the Republic of Korea (RoK) to Vietnam Kim Do-hyun on September 17.

The National Assembly Standing Committee will convent its 27th meeting on September 10, with several important draft laws and reports on the agenda.

Taxpayers will have the right to know the time limit for tax refunds and non-refundable tax amount with legal grounds, according to a draft revision for the Law on Tax Management.

The 14th National Assembly (NA) on June 8 passed a resolution on the programme of building laws and ordinances in 2019 and adjustments to the programme for 2018 during ongoing fifth session in Hanoi.

Minister of Finance Dinh Tien Dung cleared up a number of questions relating to the State budget restructuring and the execution of financial disciplines, which were raised at the May 26 session during the 5th sitting of the 14th National Assembly in Hanoi.

Payments for e-commerce transactions must be made via banks or authorised payment intermediary services, according to the draft of the amended Law on Tax Management.

Hanoi has set a target of earning about 12.7 billion USD from exports in 2018, a rise of about 8 percent over the previous year.

Hanoi aims to collect 218.27 trillion VND (9.6 billion USD) for the State budget in 2018, a rise of 20 percent against the previous year, according to the Hanoi Taxation Department.

Although FDI has played an important role in boosting Vietnam’s economy, recent changes in policies and regulations have exposed many foreign investors to considerable risks and obstacles.

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.

The question and answer session of the 14th National Assembly’s fourth sitting on November 16 was heated up with issues regarding tax, public debt and monetary policy management.

The Government will not raise public debt ceiling in order to ensure debt payment capacity and balance the national financial system, said Deputy Prime Minister Vuong Dinh Hue during the hearing session of the 14th National Assembly’s fourth sitting on November 16.