Vietnamplus

The 15th National Assembly (NA) continued its ongoing fifth session with plenums presided over by Chairman Vuong Dinh Hue on June 1.

Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.

The Government has agreed with the Ministry of Finance’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services.

The Government has agreed with the Ministry of Finance (MoF)’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services subject to a 10% VAT.

The Ministry of Finance has recently put forward a proposal to the government to bring down value-added tax (VAT) from 10% to 8% for a number of goods and services to boost the economy.

The head of Indonesian Finance Ministry's fiscal policy agency, Febrio Kacaribu, has announced that the value-added tax incentive provided by the government for the purchase of electric cars and buses will be valid from April to December 2023.

The Philippines is set to launch a value-added tax (VAT) refund programme for foreign tourists in 2024 to attract more visitors, according to the country’s Presidential Communications Office (PCO).

The Revenue Department of Thailand expects to meet its target for revenue collection of 2.2 trillion THB (nearly 63.3 billion USD) in fiscal year 2023.

The Finance Ministry of Indonesia has raised its tax revenue target for 2022 to 9.3 - 9.5 percent of GDP, banking on the implementation of new tax regulations and continued economic recovery.

The reduction of value-added tax (VAT) from 10 percent to 8 percent will help stimulate various sectors in the economy.

The Indonesian government has decided to extend the maximum value added tax (VAT) discount of 50 percent for housing from January 1 to September 30, 2022.

The value added tax (VAT) will be reduced by 2 percentage points to 8 percent starting this February as part of measures helping taxpayers tackle difficulties.

To provide resources to implement fiscal policies supporting the socio-economic recovery and development programme, the National Assembly has approved increasing State budget overspending in 2022-2023 by 1-1.2% of GDP per year on average (to a maximum of 240 trillion VND or 10.35 billion USD).

As the COVID-19 pandemic has seriously impacted the implementation of Vietnam's economic development plans, the National Assembly (NA) and Government have been proactively and urgently deploying stimulus packages to quickly restore the economy and leverage growth.

The Ho Chi Minh City People’s Committee has made several suggestions for the Ministry of Finance’s decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2 percent higher than deposit interest rates.

Indonesia needs at least 266 billion USD to fund the government's efforts to overcome climate change until 2030, according to Finance Minister Sri Mulyani Indrawati.

Online B2C transactions to Europe will be subject to value added tax (VAT) from July 1, the Vietnam Trade Office in Belgium and European Union (EU) has said.

The Vietnam e-Commerce Association (Vecom) said that a number of regulations in Circular 40 were not yet feasible, which could impact activities of hundreds of thousands of individuals doing business on e-commerce floors.

The General Department of Taxation under the Ministry of Finance (MoF) is studying a proposal on increasing the threshold of taxable revenue for individual landlords renting out houses.

Members of the National Assembly (NA) Standing Committee on November 9 sat for the 50th session to consider and give opinions on a number of contents to be submitted to the 14th NA’s 10th session.