The latest proposal to tax an individual’s income from the interest accrued from the savings deposited in banks has become a bone of contention between the parties concerned.
Minister of Finance Dinh Tien Dung paid an official visit to Cuba from August 23-25 with the aim of shoring up financial and trade partnership between Vietnam and Cuba.
State budget revenues falling short of the half-way mark in the first six months of the year is a normal feature of the domestic economy and does not preclude meeting the annual target.
President of the Japan International Cooperation Agency (JICA) Kitaoka Shinichi discussed cooperation plans between JICA and ASEAN countries in a recent interview with reporters from the bloc.
Hanoi collected over 93.9 trillion VND (4.1 billion USD) in taxes during the first half of this year, completing 50.1 percent of its annual target and 18 percent higher compared with the same period in 2016.
A delegation from the World Bank (WB) recently worked with Vietnamese partners to prepare for a project modernising the tax system in Vietnam, according to Deputy Finance Minister Do Hoang Anh Tuan.
The Government recently issued a resolution to ratify an agreement and a protocol on avoiding double taxation and preventing income tax evasion between Vietnam and the United States of America.
Vietnam and Mexico have agreed to speed up negotiations for the signing of an agreement on customs cooperation and another deal on double tax avoidance.
The pressure on the budget deficit will likely increase in the remaining months of this year due to the anticipated rapid rise of investments in capital construction.
A delegation from Myanmar led by Aung Naing Oo, Director General of the Directorate of Investment and Company Administration (DICA) made a working visit to the northern province of Ha Nam on August 9.
The General Department of Taxation under the Ministry of Finance has worked hard to simplify tax-related administrative procedures to facilitate businesses’ tax payments, said the agency.
The draft law on amendments and supplements of laws on business and investment drew attention from Cabinet members at the Government’s regular meeting in Hanoi on August 1.
Scrutiny of business and investment laws is needed to adjust or remove incompatible regulations to serve the long-term development of enterprises, heard a workshop in Hanoi on July 22.
The tax sector will focus on creating a decree to prevent tax losses and transfer pricing in the second half of the year, said Do Hoang Anh Tuan, Deputy Minister of Finance.
As of May, the Government's revenue from dividends remained low at only 13.5 trillion VND (602 million USD), equal to only 25 percent of the estimates for the year.
Business
XIII National Congress of Communist Party of Vietnam
