HCM City witnessed a sharp fall in budget collections in the first nine months of this year as a result of COVID-19, which will pose problems in fulfilling the annual target.
Indonesia and Australia have signed a memorandum of understanding (MoU) on tax information exchange, announced the Indonesia’s Taxation Directorate General (TDG) on September 9.
The General Department of Taxation (GDT) reported on August 18 that it has completed the integration of additional 27 administrative procedures into the national public service portal, lifting the total number of online public services provided through the portal to 120.
The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce as there are no specific regulations on the sector.
The General Department of Taxation must hasten reforms to create a favourable environment for enterprises to recover their business from the ravages of the COVID-19 pandemic, which was critical to increase tax revenue, Deputy Minister of Finance Tran Xuan Ha has said.
The tax department in Binh Dinh province has introduced a number of solutions to help enterprises overcome the difficulties caused by the COVID-19 pandemic, including tax reductions and payment extensions.
The State budget revenue in January – April was estimated to total 491.38 trillion VND (21.05 billion USD), representing a drop of 5.9 percent against the same period last year, as the Government offered tax relief to support those affected by the COVID-19 pandemic, according to the Ministry of Finance.
The Ministry of Finance will focus on improving the business climate and creating favourable conditions for businesses to accelerate growth, which is important to ensure State budget revenue amid the COVID-19 pandemic's impacts on socio-economic development.
Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No 41/2020/ND-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.
Residents in Hanoi and Ho Chi Minh City will now be able to pay registration fees for cars and motorbikes through the Government’s national public service portal, banking electronic payment channels and intermediary payment service providers.
More than 3,000 business households were dissolved or suspended their operations in Hanoi in the first two months of this year due to the impact of the COVID-19 outbreak.
Indonesia is set to delay import duties and corporate income tax payments for six months while also expediting the repayment of overpaid taxes in new fiscal measures to shield the economy as the COVID-19 outbreak pressures businesses.
The Ministry of Finance has submitted to the Government solutions to remove difficulties for production and business activities and support the market amidst the complicated developments of the COVID-19 outbreak.
Minster of Finance Dinh Tien Dung on January 13 asked for greater efforts from the tax sector to well implement the budget collection plan for 2020 assigned by the National Assembly and the Government.
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