Vietnamplus

Imported cars are expected to become more expensive by around 5 percent if the finance ministry's draft plan to adjust the calculation of special consumption tax on imported automobiles is approved.

The Military Bank Joint Stock Company (MB) was recently honoured as one of the top 50 fastest growing enterprises in Vietnam during 2009-2014.

The General Department of Taxation will cut the tax payment time in Vietnam to the ASEAN average of 171 hours by the end of this year as ordered by the Government.

The Vietnam Report Joint Stock Company announced a list of the largest 1,000 corporate income tax payers in 2013 in Hanoi on December 2.

Amending the current tax laws is likely to create the best possible conditions for taxpayers to fulfill their duties while accelerating sectoral reforms in line with Vietnam’s international commitments, Finance Minister Dinh Tien Dung said.

The Hanoi Department of Taxation has focussed on tax administrative reforms following the Prime Minister’s direction to improve the tax system.

Prime Minister Nguyen Tan Dung has asked the taxation sector to focus on reducing troublesome procedures in tax payment and impose strict punishments on officers who harass the people and businesses.

Enforcing the Advance Pricing Agreement (APA) mechanism is considered an effective solution for combating transfer pricing which has been reportedly increasing among multinational corporations (MNCs) in Vietnam.

Tax solutions played an important role in supporting and facilitating enterprises to overcome difficulties, become stabilised and improve businesses in 2013.

Myanmar government is preparing to submit its state budget bill for the 2014-15 fiscal year (April-March) and taxation bill for 2014 to the parliament during its ninth session on January 13.

Hanoi collected over 162 trillion VND (7.7 billion USD) in taxes this year, 0.3 percent higher than its annual target, the municipal Tax Department has reported.