The General Department of Taxation of Vietnam and the Federal Taxation Service of the Russian Federation signed a Memorandum of Understanding (MoU) on bilateral cooperation in Hanoi on June 20.
A delegation from the Ministry of Finance (MoF), led by Minister Ho Duc Phoc, is paying a working trip to Australia from July 31 to August 3, aiming at further deepening and concretising the Vietnam - Australia comprehensive strategic partnership.
The tax sector’s total state budget revenue in the first quarter of 2024 was estimated at 490.2 trillion VND (19.64 billion USD), equal to 33% of the estimate for the year, and 10.9% higher than the figure of the same period last year, the General Department of Taxation announced on April 9.
Facing adverse impacts of the COVID-19 pandemic and the world’s economic and political issues, the Ministry of Finance (MoF) has suggested authorities promulgate and issued many unprecedented solutions in terms of taxes, fees, and charges to assist people and businesses, including those from the Republic of Korea (RoK), an official has said.
The General Department of Taxation has reported a surge in the number of electronic invoices directly generated from cash registers, reaching a remarkable 104.8 million last year which represented a 47.6-fold increase compared to the initial implementation period.
The General Department of Taxation has said that, it will reduce and simplify at least 20% of regulations and cut at least 20% of compliance costs related to business activities as well as eliminate unnecessary regulations by 2025.
Vietnam needs to devise appropriate policies, especially those related to customs, to develop e-commerce across the border sustainably, heard a seminar held by Customs Magazine in Ho Chi Minh City on August 11.
The Organisation for Economic Cooperation and Development (OECD) and Vietnam on March 22 signed the world’s most wide-reaching international treaty for multilateral tax cooperation, the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), bringing the total number of jurisdictions that participate in the convention to 147.
IT application, especially the implementation of electronic invoices, really matters for the taxation sector since it promotes a more streamlined administrative process and creates favourable conditions for tax payers.
There are still non-resident traders and service providers who are yet to register, file and pay taxes for doing business on digital platforms in Vietnam, according to the General Department of Taxation (GDT)’s Large Taxpayers Department.
The report on Provincial Competitiveness Index (PCI) in 2020 acknowledged efforts in administrative reform of all 63 provinces and centrally-run cities, but the business circle still wants local administrations at all levels to further improve their transparency and accountability.
Representatives of ministries, agencies, localities, business associations and enterprises gathered at a dialogue in Hanoi on November 24 to review the latest administrative and regulatory changes in taxation and customs.
The Government of Vietnam will continue creating optimal conditions for US businesses, including Hanesbrands clothing company, to operate effectively in the Southeast Asian country, Deputy Prime Minister Trinh Dinh Dung affirmed on June 12.
The Japanese Chamber of Commerce and Industry in Ho Chi Minh City (JCCH) will actively collaborate with businesses in Vietnam’s southern economic hub for mutual long-term benefits and development.
The 11th Investment-Trade and Tourism Promotion Forum of the Cambodia-Laos-Vietnam (CLV) Development Triangle took place in the southern province of Binh Phuoc on December 18.
The Government has issued Resolution 104/NQ-CP on streamlining administrative procedures and citizens’ documents related to resident management in the jurisdiction of the Finance Ministry.
Hanoi collected over 93.9 trillion VND (4.1 billion USD) in taxes during the first half of this year, completing 50.1 percent of its annual target and 18 percent higher compared with the same period in 2016.
A workshop on pollution control and corporate social responsibility of Vietnam’s small- and medium-sized enterprises (SMEs) took place in Hanoi on April 28.
