In their latest draft of a proposal to establish a new Law on Personal Income, to replace the current one, the MoF has proposed the Government impose taxes on income from real estate transactions based on the period of ownership – or holding period – which is the time between when an investor buys and sells a land or property.
A total of 120 foreign suppliers have registered, declared, and paid taxes worth more than 8.68 trillion VND (341 million USD) through the General Department of Taxation (GDT)’s e-portal this year, up by 26% year-on-year and 74% compared to the annual target.
The Malaysian Government has implemented several initiatives to encourage local companies to increase their efforts to manufacture electric vehicles (EVs) to support the development direction of the local automotive industry.
The Ministry of Finance (MoF) said on June 5 that in the first five months of 2024, domestic market prices were basically stable, with market developments in line with the price management scenario set by the Prime Minister’s Steering Committee for Price Management.
Millions of packages of small, low-value items that are crossing the border into Vietnam daily should be subjected to VAT, special consumption and environmental taxes, according to industry experts and domestic e-commerce sellers.
An estimated 399.4 trillion VND (nearly 16.18 billion USD) was collected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, the Ministry of Finance reported on March 6.
The Ministry of Finance has proposed and issued a multitude of unprecedented measures regarding taxes, fees and charges to support local residents and enterprises, including those from the Republic of Korea (RoK), to overcome global economic headwinds, Deputy Minister Cao Anh Tuan said on February 29.
The tax sector collected more than 1,048 trillion VND (nearly 43 billion USD) for the State budget in the first nine months of 2023, equivalent to 76.3% of the estimate for the whole year and 94.9% compared to the figure in the same period last year, the General Department of Taxation reported on October 4.
The taxation sector’s total state budget revenue in the first seven months of 2023 was estimated at 868.6 trillion VND (36.6 billion USD), equal to 63.3% of the estimate, and 94.5% compared with that of the same period last year, the General Department of Taxation released on August 4.
Foreign suppliers, such as Google, Apple, Meta (Facebook), Microsoft, Netflix and TikTok, paid 3.94 trillion VND (169 million USD) in taxes in the first half of 2023, according to the General Department of Taxation (GDT).
The total State budget revenue in the first four months of this year reached 645.4 trillion VND (over 27.52 billion USD), accounting for 39.8% of the estimate and 95% of the same period last year, the Ministry of Finance announced on May 5.
Vietnam needs to fully and comprehensively assess the impacts of the global minimum tax on the country, said Minister of Finance Ho Duc Phoc on April 18.
Ho Chi Minh City has collected taxes and fines worth a total of 169 billion VND (7.26 million USD) from 38 individuals who earned incomes through Google in the first half of the year.
Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund if petrol prices keep rising, said a leader from the Ministry of Industry and Trade (MoIT).
The southern province of Binh Duong pledges to ensure an open and transparent business environment and provide optimal conditions for investors, said Chairman of the provincial People’s Committee Tran Thanh Liem.
Owners of websites with the Vietnamese domain name “.vn” can now transfer domain names directly following a circular that was promulgated last year finally coming into effect, said the Vietnam Internet Network Information Centre (VNNIC).
In 2017, the south central coastal province of Ninh Thuan is focusing on luring capable and strategic businesses and investors in the two key sectors of renewable energy and marine economy.
Tax authorities anticipate collecting at least 680 billion VND (30.4 billion USD) in the remaining ten months of 2016, a 19 percent increase over the same period last year.
