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VAT drop can have “dual effect” to stimulate Vietnam’s economic growth and curb inflation

According to several economic experts, this tax reduction is anticipated to help reduce service costs, thereby stimulating consumption, promoting production and business, whilst also creating additional jobs for workers. To control the CPI growth rate at approximately 4% in 2022 according to the target set by the National Assembly the price management should continue to […]

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Thailand: Tourism fee postponement likely

The collection of a tourism fee from foreign visitors will be delayed by at least two months from the scheduled date of April 1 as payment methods have not yet been concluded. Tourism operators had bemoaned the collection of the 300-baht fee as untimely, given the industry’s weak recovery from the pandemic. Tourism and Sports […]

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Cambodia: Government, experts discuss RCEP benefits

The benefits of the Regional Comprehensive Economic Partnership (RCEP) was discussed threadbare during ‘Unpacking the RCEP Agreement’ an online meeting yesterday. Sim Sokheng, Secretary of State of the Ministry of Commerce, opened the online event organised by ERIA, Economic Research Institute for ASEAN and East Asia, to discuss the Rules Of Origin (ROO) that determines […]

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Vietnam: Firms failing to reduce VAT to face sanctions

Enterprises which deliberately delay the reduction of the value added tax (VAT) from 10% to 8% will face heavy sanctions, according to the General Department of Taxation. The general department has sent a dispatch to localities urging the application of the VAT reduction as required by the National Assembly and the Government. At present, many […]

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