Thailand has considered a proposal to increase value-added tax (VAT), while reducing corporate and personal income tax rates to strengthen state revenue, drive national development, enhance competitiveness and address domestic disparities, according to Finance Minister Pichai Chunhavajira.
The 19th Meeting of the Working Group on the ASEAN Forum on Taxation (WG-AFT 19) and the 16th Meeting of the ASEAN Sub-Forum on Excise Taxation are taking place in Luang Prabang province of Laos from October 14-16.
A mixed excise regime with a suitable roadmap is a reasonable way to increase the special consumption tax on tobacco, a conference titled “Special consumption tax – Harmonising the State budget and business development” heard in Hanoi.
Relevant agencies have rolled out various solutions this year to help taxpayers cope with the adverse impact of COVID-19, a forum on tax policy held in Hanoi on December 18 heard.
The International Monetary Fund (IMF) on July 16 said Vietnam’s economic growth is projected to slow to 6.5 percent in 2019 from a 10-year high of 7.1 percent in 2018, reflecting weakening external conditions.
The revenue from taxes that is meant to discourage the production and consumption of products hazardous to the environment is said to have yet to make up for the losses they cause.
Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Finance (MOF) and General Department of Taxation (GDT) to study media reports on transfer pricing of foreign direct investment (FDI) enterprises and tax policy.
The changes in tax policy and investment incentives are the issues of greatest concern for foreign investors in Vietnam, said Bui Ngoc Tuan, Deputy General Director of the Audit and Advisory firm Deloitte Vietnam at a workshop on in Hanoi on July 10.
Ca Mau province has had difficulties meeting its seafood export turnover goal of 1.35 billion USD this year, according to the provincial Association of Seafood Processors and Exporters.
