Unprofitable State projects show signs of recovery Business

Unprofitable State projects show signs of recovery

The Ministry of Industry and Trade (MoIT) has reported some positive signs in the handling of 12 major State-owned projects that have long reported losses, as some have managed to resume operations after suspensions or even record profits.
Wealth inequality drags growth: experts Society

Wealth inequality drags growth: experts

As the world faces a crisis in wealth distribution, some experts doubt if the accumulation of capital will encourage innovation and investment, but instead, lead to multiple tax burdens and increase the gap between rich and poor.
Uber sues HCM City Tax Department Business

Uber sues HCM City Tax Department

The Netherlands-based ride-hailing firm Uber International Services Holding B.V has filed a lawsuit against the Ho Chi Minh City Tax Department after it decided to forcibly collect tax, Nguoi Lao Dong (Labourer) newspaper reported.
Vietnam to make customs reform Business

Vietnam to make customs reform

The Global Alliance for Trade Facilitation (GATF) will help Vietnam to establish a customs bond system – part of the country’s efforts to modernise and reform administrative procedures relating to import and export.
Tax mismanagement cost the State budget Business

Tax mismanagement cost the State budget

The Government Inspectorate of Vietnam has revealed that mismanagement in tax collection between 2012 and 2014 caused mounting arrears and losses of trillions of dong to the State exchequer.
Authorities mitigate impact of falling oil price to State budget Business

Authorities mitigate impact of falling oil price to State budget

The Government will implement comprehensive measures to meet next year's annual State budget collection target of 911.1 trillion VND (42.774 billion USD), notwithstanding the insignificant effect of the global oil price decline.

Some experts are concerned about the reduction of the State's budget next year as the export value of crude oil, which has fallen by 30 percent to a four-year low of roughly 60 USD per barrel, contributes significantly to the nation's coffer.