Vietnam steps up tax reforms Business

Vietnam steps up tax reforms

Vietnam is sparing no efforts to implement tax reform measures along with the application of information technology in tax administration to disclose budget information, according to the Vietnam Annual Economic Report 2020 launched at a conference in Hanoi on June 17.
Indonesia’s budget deficit predicted to widen to 2.8 percent World

Indonesia’s budget deficit predicted to widen to 2.8 percent

Indonesia’s 2020 state budget deficit is likely to further increase to 2.8 percent of the country’s gross domestic product (GDP), much higher than the government’s target, as tax reforms would result in lower revenue collection, according to local economists.
Vietnam, USAID look to strengthen cooperation Politics

Vietnam, USAID look to strengthen cooperation

Minister-Chairman of the Government Office Mai Tien Dung appreciated the US Agency for International Development (USAID) increasing its support for Vietnam over the past years during a working session with the agency’s leaders in Washington DC, the US, on April 10.
Vietnam to cut costs, rules for firms Business

Vietnam to cut costs, rules for firms

The private business sector in Vietnam is vital for the economy, however, obstacles and challenges remain, which can only be overcome through the combined efforts of policymakers and business leaders.
Finance Ministry steps up customs, tax reforms Business

Finance Ministry steps up customs, tax reforms

The deputy minister of finance urged the general departments of customs and taxation to further administrative reform efforts to facilitate businesses, which still have several questions about tax and customs procedures.
Tax sector seeks to reduce losses Business

Tax sector seeks to reduce losses

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.
Business

Enterprises relish low corporate income tax

A recently-released World Bank report showed that Vietnam’s effective corporate income tax rate (CIT) stands at 15.7 percent, proving to be more attractive than Singapore (17 percent), Indonesia (16.7 percent), Thailand (17.9 percent) and Malaysia (21 percent).
HCM City speeds up administrative reforms Society

HCM City speeds up administrative reforms

The Ho Chi Minh City government has urged grassroots authorities to be more active in pursuing administrative reforms, saying people's satisfaction with administrators is not increasing fast enough.